• Calumet entered a long-term asset lease supporting Montana Renewables' MaxSAF expansion, providing approximately $30 million in annual lease income, subject to adjustments.
• The revised expansion requires $137 million in remaining capital spending, versus the $1.2 billion project originally contemplated.
• Production targets remain approximately 200 million gallons of sustainable aviation fuel annually and 17,000 barrels daily in total product sales by year-end 2028.
• Warburg Pincus will exchange its 13.17% ownership for warrants covering up to 8% of Montana Renewables Holdings' common equity above $750 million.
• Its preferred return rate will rise to 11.5% from 8% under the amended agreement.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Calumet Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: DE89739) on November 05, 2026, and is solely responsible for the information contained therein.