HOUSTON, May 12, 2026 – Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, represented Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) (“Par Pacific”) in a private placement (the “offering”) by Par Petroleum, LLC, a wholly owned subsidiary of Par Pacific (“Par Petroleum”), of $500 million in aggregate principal amount of 7.375% senior unsecured notes due 2034. The notes mature on June 1, 2034, and will be issued at par.

The notes will be fully and unconditionally guaranteed on a senior unsecured basis by Par Pacific and each of Par Petroleum’s subsidiaries that guarantees Par Pacific’s senior secured asset-based revolving credit facility (the “ABL Credit Facility”) at the closing of the offering. The offering priced on May 11, 2026 and is expected to close on May 14, 2026, subject to customary closing conditions.

Par Pacific intends to use a portion of the net proceeds from the offering, together with cash on hand or borrowings under the ABL Credit Facility, to repay all of the aggregate principal balance under and terminate Par Petroleum’s term loan due 2030.

Par Pacific, headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. The company’s news release on the pricing of the offering can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Clint Rancher (Partner, Houston); Eileen Boyce (Partner, Houston); Lakshmi Ramanathan (Special Counsel, Houston); Amy Rees (Senior Associate, London); Tala Esmaili (Senior Associate, Dallas); Jack Hennessy (Associate, Houston)

Finance: Clint Culpepper (Partner, Austin); Delaram Peimani (Senior Associate, Austin); Madeline McCune (Associate, Houston); Adrienne Murr (Associate, Houston); Tessa Driver (Associate, Houston)

Tax: Jon Lobb (Partner, Houston); Andrew Maughan (Associate, Houston)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

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