On April 8, 2024, Par Pacific Holdings, Inc., Par Petroleum, LLC, Par Petroleum Finance Corp., and the guarantors party thereto entered into that certain Amendment No. 1 to Term Loan Credit Agreement, dated as of April 8, 2024 with Wells Fargo Bank, National Association, as administrative agent and the lenders party thereto. The Amendment amends that certain Term Loan Credit Agreement, dated as of February 28, 2023 among the Company, Par LLC, Finance Corp., the Term Loan Agent and the lenders party thereto.

The Amendment provided for, among other things, a reduction in the Applicable Margin under the Term Loan Agreement by 50 basis points, such that base rate loans and SOFR loans will bear interest at the applicable base rate plus 2.75% and 3.75%, respectively and the elimination of the Term SOFR Adjustment of 10 basis points with respect to loans under the Term Loan Agreement.