Renewable Diesel Market Value Proposition

IV M OVERVIEW OF MRL A uniquely advantaged Renewable Diesel conversion project in Western Montana Right location Geographically advantaged for both feedstock and product placement Right platform for conversion 。 Extremely low capital intensity RD conversion project Existing assets and infrastructure accelerates timeline Speed to market 。 Key permits received, construction started ahead of schedule and long-lead equipment procured 4Q2022 commissioning expected, nameplate capacity of 15,000 bpd 。 2024 expansion project planned, increases capacity to 18,000 bpd • Flexibility Initial yield of renewable jet can be increased operationally as that market continues to develop 18

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