Forward-Looking Statements / Disclaimers The information contained in this presentation has been prepared to assist you in making your own evaluation of the company and does not purport to contain all of the information you may consider…
Company Highlights Owner & operator of essential energy infrastructure in PADD IV and V markets 208,000 bpd petroleum refining capacity Multimodal integrated logistics network with 9 MMbbls of storage, and marine, rail and pipeline…
Demonstrated Operating Improvements and Growth HAWAII WYOMING WASHINGTON Operating Strategy Improved crude selection and Increased annual throughput Optimizes product flows between mechanical reliability Developed rail transport…
Financial Metrics Full Year Full Year Full Year LTM Q3 As of Sep 30, 2020 2017 2018 2019 1 2020 1 Adjusted EBITDA ( millions) Share Price 2 6.68 Refining 114 92 167 (50) Logistics 40 40 76 69 Enterprise Value 2 968 Retail 31 46…
Par Pacific Cost Initiatives 2020 On-track to achieve cost savings in response to COVID-19 by the end of 2020 2020 savings include 50 million in refining and logistics operating expense1 based on Q2/Q3 annualized run-rate 2021…
Integrated Downstream Network Seattle WA REFINERY Well-positioned in WA Spokane 33 growing markets MT Portland ND Advantaged access to HI REFINERIES Billings OR inland crudes Boise ID WY REFINERY 91 Hawaii SD Dedicated…
Strong Contribution from Retail and Logistics Segments Trending Retail & Logistics Adj. EBITDA (MM) Logistics Retail Totals may not foot due to rounding. 7
Refining Overview Refining Segment Highlights Refinery Crude Capacity Mbpd Par Hawaii East 94 Focus on process safety, environmental compliance and operational reliability Par Hawaii West 1 54 208,000 bpd petroleum refining…
Hawaii Refining Business Update Market Profile and Outlook Response to COVID-19 Demand Downturn Par East configuration well-positioned to supply Idled Par West location and eliminated jet imports to state needs balance production with…
Crude Sourcing Q3-20 YTD Inland vs. Waterborne Crude Exposure WCS and Bakken (Clearbrook) Diffs /bbl 8% Powder River Basin 39% Other Waterborne 27% Bakken 15% ANS 11% Cold Lake Inland exposure Waterborne exposure…
Turnaround Schedule Q3-19 Q4-20 Par West Wyoming Turnaround Turnaround 10 MM 15 MM 6-7 year cycle 4-5 year cycle No anticipated major turnarounds 2019 2020 2021 2022 2023 2024 2025 Q3-20 Q1-21 Q1-22 Par East Washington…
Leading Retail Position in Attractive Markets Kauai Hawaii Retail Retail Segment Growth Oahu 91 locations across four islands 11 Maui including 76 and Hele branded 61 locations Hawaii 7 High real estate costs, scarcity of land,…
Multimodal Logistics System Western Canada 11 Kauai Seattle Oahu WA REFINERY Molokai WA Spokane 33 HI REFINERIES Bakken Maui Portland MT ND 61 Global Crude 7 Sourcing Billings OR Boise Hawaii ID PRB SD Rapid City 12 WY…
Hawaii Market Fundamentals Pre-COVID 19 Post-COVID 19 Demand Recovery 1 Petroleum Use 2 Mbpd 32% Air Transportation 70 60 - 65 3% Commercial 60 50 - 55 9% Industrial 50 43 39 40 Total Production 25% Electric 30 Total Demand…
Capital Expenditure and Turnaround Summary MAINTENANCE / REGULATORY GROWTH TURNAROUND Expected annual recurring base Washington NextGen renewable fuels 35 MM Par East turnaround completed maintenance capital expenditures of logistics…
Corporate Structure 49 MM 5% Convertible Notes due 6/15/2021 Par Pacific Holdings Inc. 43 MM L + 1.5% Term NYSE: PARR Loan due 4/1/2024 1 ABL Revolver due 12/21/2022 2 300 MM 7.75% Senior Secured Notes due 12/15/2025 228 MM L +…
Non-GAAP PV10 and PV20 Disclosures Non-GAAP PV10 and PV20 Disclosure PV10 and PV20 are considered non-GAAP financial measures under SEC regulations because they do not include the effects of future income taxes, as is required in…
Laramie Energy Reserves Year End 2019 Reserves and PV10 Summary 100% of Laramie Energy NSAI RESERVE REPORT SEC Price Deck and Parameters Assumed Strip Pricing (3) (3) Gas Oil NGL Total PV10 PV20 Gas Price (/MMBTU) Condensate…
Laramie Energy Adjusted EBITDAX Laramie Energy Net Income (Loss) Reconciliation to Adjusted EBITDAX (1) ( in thousands) Twelve Months Ended December 31, Nine Months Ended September 30, 2017 2018 2019 2019 2020 Net income (loss) 30,837…
Non-GAAP Financial Measures Twelve Months Ended Consolidated Adjusted EBITDA and Adjusted Net Income Reconciliation (1) ( in thousands) 2015 2016 2017 2018 2019 Q3 2020 Net income (loss) (39,911) (45,835) 72,621 39,427 40,809…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended September 30, 2020 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) (167,453)…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended December 31, 2019 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) 93,781 59,075…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended December 31, 2018 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) 73,269 33,389…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended December 31, 2017 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) 86,016 33,993…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended December 31, 2016 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) (10,934)…
Non-GAAP Financial Measures Consolidated Adjusted EBITDA by Segment Reconciliation (1) For the twelve months ended December 31, 2015 ( in thousands) Corporate and Refining Logistics Retail Other Operating income (loss) 66,756 25,170…
Non-GAAP Financial Measures Diluted Adjusted Net Income per Share for the Twelve Months Ended (in thousands, except per share amounts) 2017 2018 2019 Q3 2020 Adjusted Net Income (Loss) 63,266 49,339 90,218 (119,985) Undistributed…
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