Iridium Communications (IRDM) recently announced that the 3rd Generation Partnership Project (3GPP) has approved its request to broaden the capability of Narrowband Internet of Things (NB-IoT) for Non-Terrestrial Networks (NTN) into the official Work Plan for 3GPP Release 19 (set to conclude in the fourth quarter of 2025). This will result in Iridium's satellite service being accessed through the industry standard chipsets. The initiative augments Iridium's footprint in global connectivity through its lates ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1811 Aksarben Drive, Omaha, NE 68106 (402) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission File Number 001-37469 GREEN PLAINS PARTNERS LP (Exact name of registrant as specified in ...

Financial Performance - For Q1 2023, total revenues increased by 8.8% to $20.775 million compared to $19.100 million in Q1 2022[119] - Adjusted EBITDA for Q1 2023 was $12.505 million, slightly down from $12.629 million in Q1 2022[116] - Distributable cash flow decreased by $0.5 million to $10.752 million in Q1 2023 compared to $11.220 million in Q1 2022[123] - The coverage ratio for distributions declared was 1.00x in Q1 2023, compared to 1.06x in Q1 2022[116] - The partnership distributed $10.8 million to unitholders for the quarter ended March 31, 2023, with a quarterly cash distribution of $0.455 per unit[147] Revenue Sources - Railcar transportation services revenue rose by 35.6% to $6.309 million, primarily due to increased transportation service fees and higher railcar volumetric capacity[121] - U.S. domestic ethanol production averaged 1.01 million barrels per day in Q1 2023, a 1.0% decrease from the same period last year[124] - Domestic ethanol exports were approximately 222 million gallons through February 2023, down from 267 million gallons in the same period of 2022[125] Operational Metrics - Average utilization rate for the parent company was approximately 87.5% in Q1 2023, with ethanol throughput at 208.1 million gallons, below the contracted minimum volume commitment[109] - Operations and maintenance expenses increased by 30.3% to $7.253 million, largely due to higher railcar lease expenses[122] Cash and Debt Management - As of March 31, 2023, the company had $18.1 million in cash and cash equivalents, with net cash provided by operating activities of $8.9 million for the three months ended March 31, 2023[138][139] - The term loan has an outstanding balance of $59.0 million with an interest rate of 13.14%, and no principal payments were made during the three months ended March 31, 2023[142] - The company incurred capital expenditures of $0.1 million for maintenance and upgrades for the three months ended March 31, 2023, with an expectation of approximately $0.5 million for the remainder of 2023[140] Regulatory and Market Environment - The Inflation Reduction Act of 2022 includes a Clean Fuel Production Credit of $1.00 per gallon from 2025 to 2027, which may impact fuel ethanol depending on GHG reduction levels[128] - The EPA has proposed Renewable Volume Obligations (RVOs) of 15.25 billion gallons for conventional ethanol for 2023, 2024, and 2025, including 250 million gallons of supplemental volume for 2023[129] - The Inflation Reduction Act allocated $500 million for biofuel blending infrastructure, which could enhance the availability of higher-level ethanol blended fuel[128] - The company is subject to environmental regulations that may increase overall costs, including capital costs for compliance with existing and anticipated laws[134] Risk Management - A 10% change in interest rates would affect the company's interest expense by approximately $0.8 million per year, based on the outstanding term loan[155] - The company does not have any direct exposure to fluctuating commodity prices as it does not own the ethanol and other fuels stored or transported[157] - The company does not have direct exposure to risks associated with fluctuating commodity prices[157] Credits and Deficiencies - The cumulative balance of minimum volume deficiency credits available to Green Plains Trade is $0.5 million, set to expire on March 31, 2024[110]

Operations and Capacity - Green Plains Partners operates 27 ethanol storage tanks with a combined capacity of 25.1 million gallons, supporting an annual production capacity of 958 million gallons of ethanol [22][23]. - For the year ended December 31, 2022, the average utilization rate of the parent company's ethanol production facilities was approximately 91% [23]. - The company owns and operates two fuel terminals with a total storage capacity of approximately 6.7 million gallons and an aggregate throughput of approximately 198.8 million gallons for the year ended December 31, 2022 [24]. - The leased railcar fleet consists of approximately 2,500 railcars with an aggregate capacity of 75.0 million gallons, with a remaining term of 6.5 years for the rail transportation services agreement [24][37]. - The average daily railcar capacity billed was 73.1 million gallons in 2022, an increase from 69.8 million gallons in 2021 [210]. Financial Performance - Total revenues for the year ended December 31, 2022, were $79.767 million, an increase of $1.3 million compared to $78.452 million in 2021 [211]. - Adjusted EBITDA for 2022 was $51.168 million, down from $52.147 million in 2021 [199]. - Distributable cash flow decreased by $0.8 million in 2022, associated with an increase in net income offset by changes in interest expense compared to the prior period [214]. - The coverage ratio for distributions declared was 1.04x in 2022, down from 1.72x in 2021 [199]. - Operations and maintenance expenses increased by $2.1 million in 2022, primarily due to an increase in railcar lease expense [212]. Customer and Revenue Dependency - Revenues from Green Plains Trade accounted for approximately $75.8 million, or 95.0% of total revenues in 2022, highlighting the company's dependency on this major customer [57]. - The company benefits from stable and predictable cash flows due to long-term, fee-based commercial agreements with Green Plains Trade, which include minimum volume commitments [41]. Regulatory and Compliance Risks - The company is subject to risks related to the operational and financial performance of Green Plains Trade, which could adversely affect cash distributions to unitholders [70]. - Compliance with environmental regulations may require substantial capital expenditures, and any violations could lead to penalties that negatively impact financial performance [85]. - The company faces potential material adverse effects on its financial condition due to federally-mandated tank car requalification, which requires inspections and upgrades every ten years, potentially leading to increased out-of-service railcars [80]. Market and Economic Factors - Future demand for ethanol is uncertain, influenced by federal mandates, public perception, and global events, which could adversely affect the company's revenue generation [86][87]. - Changes in international trade agreements and tariffs could materially affect the company's business and financial results, particularly in ethanol exports to countries like Canada, South Korea, and Mexico [82]. - The recent strengthening of the U.S. Dollar could adversely impact U.S. ethanol competitiveness in the global market [173]. Strategic Initiatives and Growth - Green Plains Partners intends to pursue organic growth and strategic acquisitions to enhance its asset base and operational capabilities [46][47]. - The company is positioned to compete effectively in a growing market due to its expertise in managing third-party terminal services and logistics [55]. Partnership and Governance - The partnership agreement requires distribution of all available cash, limiting the ability to fund growth and acquisitions externally [117]. - The general partner can reset target distribution levels without unitholder approval, potentially leading to lower distributions for common unit holders [123]. - Unitholders may face liability to repay distributions that were wrongfully distributed under Delaware law [135]. Tax and Financial Structure - Tax treatment as a partnership is crucial; if treated as a corporation, distributable cash flow would be significantly reduced [138]. - The company has not requested a ruling from the IRS regarding its partnership treatment, which poses a risk of adverse market impacts if the IRS contests its tax positions [142]. - Unitholders are liable for taxes on their share of taxable income, even without cash distributions, which may not align with actual cash received [143]. Industry Trends - In 2022, U.S. domestic ethanol production averaged 1.0 million barrels per day, a 1% increase from 2021 [172]. - Domestic ethanol exports through November 30, 2022, were approximately 1,277 million gallons, up 13% from 1,126 million gallons in the same period of 2021 [173]. - The EPA has proposed Renewable Volume Obligations (RVOs) for 2023, 2024, and 2025, setting the implied conventional ethanol levels at 15.25 billion gallons for each year [178].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2022 For the transition period from ______ to ______ Commission File Number 001-37469 GREEN PLAINS PARTNERS LP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

Table of Contents Commission File Number 001-37469 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 GREEN PLAINS PARTNERS LP _______________________ (Exact name of registrant as specified in its charter) FORM 10-Q (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 1811 Aksarben Drive, Omaha, NE 68106 (402) 884-8700 For the Quarterly Period Ended Sept ...