Transaction Details

Footnotes

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2024. The closing price of one common unit of Calumet Specialty Products Partners, L.P., (the "Partnership") as reported on the Nasdaq Global Select Market, on the date the Rule 10b5-1 trading plan was adopted by the reporting person was $14.25 per unit. On July 10, 2024, Calumet, Inc. became the successor issuer to, and parent holding company of, the Partnership pursuant to a conversion transaction in which all of the Partnership's outstanding common units representing limited partner interests were automatically exchanged into an equal number of shares of Calumet, Inc. common stock. | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.35 per share to $14.06 per share. The reporting person undertakes to provide to Calumet, Inc., any security holder of Calumet, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4. | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.06 per share to $12.91 per share. The reporting person undertakes to provide to Calumet, Inc., any security holder of Calumet, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4. | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.40 per share to $10.90 per share. The reporting person undertakes to provide to Calumet, Inc., any security holder of Calumet, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4. | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.07 per share to $13.86 per share. The reporting person undertakes to provide to Calumet, Inc., any security holder of Calumet, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (5) to this Form 4. | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.53 per share to $16.02 per share. The reporting person undertakes to provide to Calumet, Inc., any security holder of Calumet, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (6) to this Form 4.