The Australian oil company's brand debuted on the #9 E63 AMG at Bathurst in what was initially a one-off naming rights deal.
“It's fantastic to have Penrite's continued support for the rest of the year,'' said team owner Betty Klimenko.
“We had such great feedback on the new Penrite partnership and livery both before, during and after Bathurst. It was also great to see a sponsor so active in engaging with the fans throughout the event.
“The team and category will benefit from the way they reach the fans.
“It's exciting to have a proud Australian owned company that wants to grow with us for the remainder of the year.''
Bathurst also saw Erebus kick-off its partnership with Wendys, which will sponsor the team's #4 entry for all remaining events outside of Pukekohe.
The Penrite and Wendys deals marked the first time that Erebus had run its cars in full sponsor-dedicated liveries since the end of the 2013 season.