Credit Suisse Renewables and Utilities Conference May 13-14, 2021 Forward-Looking Statements This presentation includes forward-looking statements that reflect management's current views of company performance, industry conditions and future economic environment. These statements are based on assumptions and various factors that are subject to risks and uncertainties. Green Plains has provided additional information about such risks and uncertainties that could cause actual results to differ materially from ...

Production and Operations - In Q1 2021, the company maintained an average utilization rate of approximately 71.1%, resulting in ethanol production of 178.0 million gallons, down from 240.5 million gallons or 85.9% of capacity in the same quarter last year [198]. - Domestic ethanol production averaged 0.91 million barrels per day in Q1 2021, a 12% decrease from 1.03 million barrels per day in the same quarter last year [199]. - Ethanol sold decreased by 26.0% to 178,000 thousand gallons for the three months ended March 31, 2021, compared to 240,466 thousand gallons in the same period of 2020 [246]. - The company upgraded its York facility to include USP grade alcohol capabilities, with plans for further upgrades to serve high-value markets [184]. - The company anticipates producing feed ingredients with protein concentration of 50% or greater through its Ultra-High Protein initiative, enhancing margins per gallon [183]. Financial Performance - Ethanol production segment revenues decreased by 10.9% to $423.7 million for the three months ended March 31, 2021, compared to $475.7 million in the same period of 2020 [235]. - Agribusiness and energy services segment revenues decreased by 17.9% to $133.9 million for the three months ended March 31, 2021, compared to $163.2 million in the same period of 2020 [235]. - Total consolidated revenues decreased by $79.2 million, primarily due to lower production volumes of ethanol, distillers grains, and corn oil [242]. - Operating income increased by $85.7 million for the three months ended March 31, 2021, primarily due to a $36.9 million gain on the sale of assets [243]. - Adjusted EBITDA increased by $12.7 million due to improved margins on ethanol production [243]. Investments and Acquisitions - The company completed the purchase of a majority interest in Fluid Quip Technologies, LLC, to expand the production of Ultra-High Protein across its facilities [186]. - The company issued $230.0 million of 2.25% convertible senior notes due in 2027, using approximately $156.5 million of the net proceeds to repurchase $135.7 million of its 4.125% notes due 2022 [193]. - The public offering of 8,751,500 shares of common stock at $23.00 per share resulted in net proceeds of approximately $191.1 million for general corporate purposes [196]. Market and Regulatory Environment - The Renewable Fuel Standard (RFS II) mandated a volume of 15.0 billion gallons of conventional ethanol to be blended with gasoline by 2015, but the EPA has not yet released a draft rule for 2021 volumes [207]. - In 2019, the total Renewable Volume Obligation (RVO) was more than 20% below statutory levels for the second consecutive year, prompting expectations for a reset rulemaking by the EPA [208]. - The EPA granted 790 million gallons of waivers for small refineries in 2016, 1.82 billion gallons in 2017, and 1.43 billion gallons in 2018, significantly reducing mandated volumes [210]. - The One-Pound Waiver allows E15 to be sold year-round in approximately 30 states, although it is currently being challenged in court [211]. - U.S. ethanol exports to Brazil faced a 20% tariff in 2020, with exports totaling 200 million gallons [222]. - The USMCA maintains duty-free access for U.S. agricultural commodities, including ethanol, into Canada and Mexico, with exports of 326 million gallons to Canada and 64 million gallons to Mexico in 2020 [225]. Cash Flow and Debt - As of March 31, 2021, the company had $446.8 million in cash and equivalents, excluding restricted cash, and $207.6 million in restricted cash [257]. - Net cash used in operating activities was $37.0 million for the three months ended March 31, 2021, compared to net cash provided of $17.8 million for the same period in 2020 [258]. - Capital expenditures for the three months ended March 31, 2021, were approximately $31.5 million, with expected capital spending for the remainder of 2021 between $170.0 million and $194.0 million [260]. - The partnership has $773.4 million in total debt, with $235.2 million bearing variable interest rates, exposing it to interest rate risk [289]. - A 10% increase in interest rates would increase interest costs by approximately $0.8 million per year [289]. Risk Management - The partnership uses forward fixed-price contracts and derivatives to manage commodity price risks associated with ethanol, corn, and natural gas [292]. - The estimated net income effect from a hypothetical 10% change in ethanol prices for the next 12 months is $116,059,000 [295]. - The estimated net income effect from a hypothetical 10% change in corn prices for the next 12 months is $129,767,000 [295]. - During the three months ended March 31, 2021, revenues included net losses of $56.0 million from derivative instruments, while cost of goods sold included net gains of $18.5 million [292]. Other Considerations - The COVID-19 pandemic has created significant volatility and uncertainty in the energy industry, although there has been no material adverse effect on the company's operations to date [227][228]. - The company has undergone significant changes, including the sale of its 50% interest in GPCC and the acquisition of a majority interest in FQT, impacting comparability of financial results [229]. - Income tax expense was $1.9 million for the three months ended March 31, 2021, compared to an income tax benefit of $44.3 million for the same period in 2020 [254]. - Income from equity method investees decreased by $7.8 million for the three months ended March 31, 2021, compared to the same period last year, primarily due to the disposition of the GPCC joint venture [255]. - The partnership believes it is probable to source appropriate funding prior to August 2021 due to consistent fee-based cash flows and ongoing profitability [282].

Green Plains Inc. (NASDAQ:GPRE) Q1 2021 Earnings Conference Call May 3, 2021 11:00 AM ET Company Participants Phil Boggs - Senior Vice President, Investor Relations Todd Becker - President and Chief Executive Officer Patrich Simpkins - Chief Financial Officer Conference Call Participants Ken Zaslow - Bank of Montreal Laurence Alexander - Jefferies Adam Samuelson - Goldman Sachs Craig Irwin - ROTH Capital Jordan Levy - Truist Securities Ben Bienvenu - Stephens Manav Gupta - Credit Suisse Selman Akyol - Stife ...

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Ethanol Production and Market Overview - As of December 31, 2020, the top five ethanol producers operated 69 plants, accounting for approximately 40% of the domestic production capacity, with capacities ranging from 800 mmgy to 1,800 mmgy[88]. - Approximately half of the 209 ethanol plants in the United States are standalone facilities, which account for about 38% of domestic production capacity[88]. - The Renewable Fuels Association reported 107 operational ethanol plants in states where the company has production facilities, with the largest concentration in Iowa, Nebraska, and Illinois, representing 51% of operational production capacity[89]. - The average utilization rate for 2020 was approximately 71%, down from 76% in the previous year, primarily due to poor margins and reduced motor fuel demand caused by the COVID-19 pandemic[320]. - Ethanol sold decreased to 793,743 thousand gallons in 2020 from 856,623 thousand gallons in 2019, a decline of approximately 7.3%[377]. - Revenues in the ethanol production segment decreased by $198.1 million in 2020, primarily due to lower production volumes[377]. Financial Performance - Total revenues reported for 2020 were $1,923,719, a decrease of 20.5% compared to $2,417,238 in 2019 and 35.5% from $2,983,932 in 2018[366]. - Ethanol production segment revenues for 2020 were $1,502,481, down 11.5% from $1,700,615 in 2019 and 29.1% from $2,120,475 in 2018[366]. - Agribusiness and energy services segment revenues decreased to $443,871 in 2020, a decline of 39.7% from $735,500 in 2019 and 42.4% from $768,956 in 2018[366]. - Consolidated revenues decreased by $493.5 million in 2020 compared to 2019, primarily due to lower production volumes of ethanol and distillers grains[374]. - Operating loss for the ethanol production segment in 2020 was $129,618, which included a goodwill impairment charge of $24.1 million and a $3.9 million pretax loss on the sale of the Hereford plant[366][367]. - Corporate activities incurred an operating loss of $57,888 in 2020, which included a goodwill impairment charge and losses from asset sales[367]. Strategic Partnerships and Acquisitions - The company acquired a majority interest in Fluid Quip Technologies, LLC in 2020 to expand Ultra-High Protein technology across its facilities[109]. - An exclusive partnership was formed with Hayashikane Sangyo of Japan in 2020 to deliver innovative solutions for global aquaculture markets[110]. - The company completed the sale of the Hereford ethanol plant in Q4 2020, resulting in a loss of $3.9 million recorded at the ethanol production level[356]. - The company acquired a majority interest in Fluid Quip Technologies, LLC in December 2020, indicating a strategic move towards market expansion[361]. Risk Management and Financial Instruments - The company uses various financial instruments to manage exposure to commodity price fluctuations, particularly for corn, ethanol, and natural gas[319]. - The partnership uses forward fixed-price physical contracts and derivative financial instruments to manage commodity price risk[437]. - The company actively monitors and manages credit and market risk associated with derivative financial instruments used for hedging commodity price changes[341]. Employee and Operational Measures - The company employs 839 full-time, part-time, temporary, and seasonal employees as of December 31, 2020, including 122 at its corporate office[115]. - The company has implemented enhanced safety measures during the COVID-19 pandemic to protect employee health and ensure reliable product supply[117]. Tax and Cash Flow - Income tax benefit increased to $50.4 million in 2020 from $21.3 million in 2019, primarily due to the carry back of a tax NOL generated in 2019[386]. - Net cash provided by operating activities of continuing operations was $98.9 million in 2020, compared to a net cash used of $27.0 million in 2019[404]. Debt and Obligations - As of December 31, 2020, total contractual obligations amounted to $1,041,985,000, with $560,848,000 due within one year[429]. - The partnership's long-term and short-term debt obligations total $571,744,000, with $241,121,000 due within one year[429]. - A 10% increase in interest rates would affect the partnership's interest cost by approximately $0.9 million per year, with $237.4 million of its $526.2 million debt having variable interest rates[434].

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------------|-------------------------------------------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fourth Quarter & Full Year 2020 Business Update | | | | | | | | | | February 10, 2021 | | | | | | | | | Forward Looking Statements 2 This presentation includes forward-looking statements that reflect management's current views of company perf ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Address of principal executive offices, including zip code) (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, par value $0.001 per share | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2020 Commission File Number 001-32924 1811 Aksarben Drive, Omaha, NE 68106 (402) 884-8700 GREEN PLAINS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Securities registered ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Exact name of registrant as specified in its charter) Iowa 84-1652107 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1811 Aksarben Drive, Omaha, NE 68106 (402) 884-8700 (Address of principal executive offices, including zip code) (Registrant's telephone number, including area code) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...