Calumet Announces $120 million Extension with Stonebriar

Company Intends to Use Proceeds to Partially Redeem its Senior Notes due 2026

INDIANAPOLIS, July 28, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet" or the "Company") announced today that it has extended its Shreveport terminal asset financing arrangement with Stonebriar Commercial Finance LLC ("Stonebriar"). This transaction increases the assigned value of these terminal assets to $120 million and will provide $80 million of proceeds to Calumet, the difference between the new value of the assets and the remaining $40 million balance on the prior schedule. The previous sale leaseback agreement originally valued these assets at $70 million, which were scheduled to be repurchased in February 2027. This transaction carries a cost of capital of 10.75%, and net proceeds will be used to reduce Calumet's outstanding 11.00% Senior Notes due 2026 ("2026 Notes"). Further, Calumet has delivered a notice for a partial redemption of $80 million aggregate principal amount of its outstanding 2026 Notes at a redemption price of par, plus accrued and unpaid interest to, but not including, the redemption date of August 12, 2025.      

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