Core Insights - The energy sector has several oversold stocks that present potential buying opportunities for undervalued companies [1] Group 1: Oversold Stocks - Nextdecade Corp (NEXT) has an RSI of 27.1, with a recent stock price of $6.97 after a 30% decline over five days and a 52-week low of $4.59 [9] - XCF Global Inc (SAFX) has an RSI of 20.8, closing at $1.28 after a 7% drop over five days and a 52-week low of $1.16 [9] - Cross Timbers Royalty Trust (CRT) has an RSI of 18.6, with shares closing at $7.70 after a 12% decline over the past month and a 52-week low of $7.67 [9] - REX American Resources Corp (REX) has an RSI of 26, with shares closing at $30.46 after a 21% drop over the past month and a 52-week low of $30.32 [9]

Market Overview - The market has experienced significant shifts, with several companies facing notable price declines due to sector-specific challenges and broader economic conditions [1] REX American Resources Corporation - REX American Resources Corporation's stock price has dropped over 50% to $30.54, facing potential operational challenges and broader market conditions affecting the Basic Materials sector [2] - The company's recent announcement regarding the conversion of REX-Osprey™ SOL + Staking ETF to a Regulated Investment Company structure may be a strategic move to enhance investor returns, but it may not have an immediate impact on REX's stock performance [2] Charles & Colvard, Ltd. - Charles & Colvard, Ltd. has seen a 42.65% decrease in its stock price to $0.43, facing challenges in the Luxury Goods and Consumer Cyclical sector [3] - The company's delisting from Nasdaq marks a significant change in its trading status, potentially contributing to the stock's decline [3] Bionano Genomics, Inc. - Bionano Genomics, Inc. experienced a 38.81% decline in its stock price to $1.69, specializing in genome analysis solutions [4] - Despite showcasing the utility of optical genome mapping in cancer biomarker analysis, market sentiment towards biotech investments and specific operational news may have contributed to the price drop [4] Osisko Development Corp. Warrant - Osisko Development Corp. Warrant saw a 32.43% decline to $0.25, with price movements influenced by fluctuations in gold prices and investor sentiment towards the Basic Materials sector [5] BT Brands, Inc. - BT Brands, Inc. experienced a 31.36% decline in its stock price to $0.31, operating in the quick-service restaurant industry [6] - The company faces challenges in the Consumer Cyclical sector, with market competition and broader economic factors affecting consumer spending potentially contributing to the stock's decline [6] Conclusion - The movements in these companies underscore the volatility and diverse factors influencing the market, with investors and analysts likely to monitor these developments for insights into the underlying causes of price changes and their potential long-term implications [7]

Core Insights - Spin Master Corp. has launched the Primal Hatch Jurassic World T. REX toy, which is now available at major US retailers, tapping into the popularity of the Jurassic World franchise [1][2] - The toy allows children to hatch and interact with a baby T. REX, enhancing the play experience through training and personality development [2][3] - The suggested retail price for the Primal Hatch T. REX is $65.99 USD, and it has already gained significant attention online, including over 4 million views on TikTok [3][4] Product Details - The Primal Hatch toy features an egg that children can tap to initiate the hatching process, resulting in a lifelike experience as the T. REX emerges [2][3] - Once hatched, the T. REX can be trained and interacted with, allowing it to evolve into either a fierce predator or a friendly companion based on the child's actions [2][3] - The toy has been recognized as a 1 Best Seller on Amazon in the Kids' Play Dinosaur category and has received several international awards [3] Company Background - Spin Master Corp. is a leading global children's entertainment company known for creating exceptional play experiences across toys, entertainment, and digital games [5] - The company has a diverse portfolio of award-winning brands and engages 60 million active users monthly through its digital games [5] - Spin Master operates 29 offices in nearly 20 countries and employs over 2,500 team members globally [5] Franchise Context - The Jurassic World franchise, created by Universal Pictures and Amblin Entertainment, is a $6 billion film series that captivates audiences with its themes of coexistence between dinosaurs and humans [4] - The franchise extends beyond films, offering a larger-than-life experience that includes various products and attractions [4]

[Report Information](index=1&type=section&id=Report%20Information) This section provides administrative details of the Form 10-Q filing, including registrant information and securities status [Form 10-Q Details](index=1&type=section&id=Form%2010-Q%20Details) This section outlines the administrative specifics of the Form 10-Q filing, including reporting period and registrant status - The report is a Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the period ended **July 31, 2025**[2](index=2&type=chunk) - REX American Resources Corporation is a Delaware corporation with Commission File Number **001-09097**[2](index=2&type=chunk) - The registrant is a **Large accelerated filer** and is not a shell company[5](index=5&type=chunk) - As of August 29, 2025, there were **16,528,787 shares of Common Stock outstanding**[5](index=5&type=chunk) [Index](index=2&type=section&id=INDEX) The index outlines the 10-Q report's structure, detailing financial and other information with corresponding page numbers - The report is divided into two main parts: Part I - Financial Information and Part II - Other Information[7](index=7&type=chunk) - Part I includes Financial Statements, Management's Discussion and Analysis, Quantitative and Qualitative Disclosures About Market Risk, and Controls and Procedures[7](index=7&type=chunk) - Part II covers Legal Proceedings, Risk Factors, Unregistered Sales of Equity Securities, Defaults upon Senior Securities, Mine Safety Disclosures, Other Information, and Exhibits[7](index=7&type=chunk) [Commonly Used Defined Terms](index=3&type=section&id=Commonly%20Used%20Defined%20Terms) This section defines key corporate entities, industry terms, and accounting/general business terms for report clarity - Key corporate entities include REX/the Company, NuGen (**99.7% REX ownership**), One Earth (**76.1% REX ownership**), and Big River (**10.3% REX ownership**)[10](index=10&type=chunk) - Industry terms defined include CI (Carbon Intensity), CO2 (Carbon dioxide), EPA (United States Environmental Protection Agency), IRA (Inflation Reduction Act), RFS II (Renewable Fuel Standard II), RIN(s) (Renewable Identification Number(s)), SAF (Sustainable Aviation Fuel), and various IRC sections (41, 45, 45Q, 45Z)[11](index=11&type=chunk) - Accounting and general business terms include ASC (Accounting Standards Codification), ASU (Accounting Standards Update), FASB (Financial Accounting Standards Board), and SG&A (Selling, general, and administrative)[12](index=12&type=chunk) [PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This part presents the unaudited consolidated financial statements and management's discussion and analysis for the reporting period [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements, encompassing balance sheets, statements of operations, equity, cash flows, and detailed notes [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) This section presents the consolidated balance sheets, detailing assets, liabilities, and equity at July 31, 2025, and January 31, 2025 Consolidated Balance Sheet Highlights (In Thousands) | Metric | July 31, 2025 | January 31, 2025 | Change (Jul 25 vs Jan 25) | | :-------------------------------- | :-------------- | :--------------- | :------------------------ | | Total Assets | $700,596 | $720,008 | -$19,412 | | Total Current Assets | $390,516 | $435,819 | -$45,303 | | Cash and cash equivalents | $240,962 | $196,255 | +$44,707 | | Short-term investments | $69,490 | $162,820 | -$93,330 | | Total Liabilities | $69,606 | $76,406 | -$6,800 | | Total Current Liabilities | $37,085 | $50,443 | -$13,358 | | Total Equity | $630,990 | $643,602 | -$12,612 | - Total assets decreased by **$19.4 million** from January 31, 2025, to July 31, 2025, primarily due to a significant decrease in short-term investments, partially offset by an increase in cash and cash equivalents[14](index=14&type=chunk) - Total current liabilities decreased by **$13.4 million**, driven by reductions in accounts payable and accrued expenses[14](index=14&type=chunk) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) This section presents the consolidated statements of operations, outlining net sales, costs, and net income for the three and six months ended July 31, 2025 and 2024 Consolidated Statements of Operations Highlights (In Thousands, Except Per Share Amounts) | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :--------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales and revenue | $158,563 | $148,155 | $316,903 | $309,386 | | Cost of sales | $144,244 | $128,382 | $288,242 | $275,162 | | Gross profit | $14,319 | $19,773 | $28,661 | $34,224 | | Income before income taxes | $12,097 | $19,496 | $25,723 | $35,459 | | Net income attributable to REX common shareholders | $7,111 | $12,378 | $15,789 | $22,569 | | Basic net income per share | $0.43 | $0.71 | $0.95 | $1.29 | | Diluted net income per share | $0.43 | $0.70 | $0.95 | $1.28 | - Net sales and revenue increased by **7%** for the three months ended July 31, 2025, compared to the prior year, and by **2%** for the six months ended July 31, 2025[15](index=15&type=chunk) - Gross profit decreased significantly by **27.6%** for the three months and **16.3%** for the six months ended July 31, 2025, primarily due to a higher increase in cost of sales relative to revenue growth[15](index=15&type=chunk) - Net income attributable to REX common shareholders decreased by **42.6%** for the three months and **30.0%** for the six months ended July 31, 2025, reflecting the decline in gross profit and income before taxes[15](index=15&type=chunk) [Consolidated Statements of Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Equity) This section details changes in REX shareholders' equity and noncontrolling interests for the six months ended July 31, 2025 REX Shareholders' Equity Changes (In Thousands) | Metric | Balance at Jan 31, 2025 | Balance at July 31, 2025 | Change | | :-------------------------- | :---------------------- | :--------------------- | :----- | | Total REX shareholders' equity | $560,337 | $545,766 | -$14,571 | | Retained earnings | $759,928 | $775,717 | +$15,789 | | Treasury stock | $(206,360) | $(238,287) | -$31,927 | | Noncontrolling interests | $83,265 | $85,224 | +$1,959 | - REX shareholders' equity decreased by **$14.6 million** from January 31, 2025, to July 31, 2025, primarily due to significant treasury stock acquisitions (**$32.7 million** and **$0.1 million**) partially offset by net income[17](index=17&type=chunk) - Retained earnings increased by **$15.8 million**, reflecting net income attributable to REX common shareholders for the six-month period[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section presents consolidated cash flows, categorizing movements from operating, investing, and financing activities Consolidated Statements of Cash Flows Highlights (Six Months Ended July 31, In Thousands) | Cash Flow Activity | 2025 | 2024 | Change (2025 vs 2024) | | :-------------------------------- | :------- | :------- | :-------------------- | | Net cash provided by operating activities | $12,808 | $5,708 | +$7,100 | | Net cash provided by investing activities | $67,533 | $33,772 | +$33,761 | | Net cash used in financing activities | $(35,634) | $(1,837) | -$33,797 | | Net increase in cash and cash equivalents | $44,707 | $37,643 | +$7,064 | | Cash and cash equivalents, end of period | $240,962 | $261,040 | -$20,078 | - Operating cash flow significantly increased to **$12.8 million** in 2025 from **

Financial Data and Key Metrics Changes - Ethanol sales volumes increased to 70.6 million gallons in Q2 2025 from 65.1 million gallons in Q2 2024, while the average selling price decreased to $1.75 per gallon from $1.79 [12] - Gross profit for Q2 2025 was $14.3 million, down from $19.8 million in Q2 2024, primarily due to lower sales prices for dry distiller grains [13] - Net income attributable to REX shareholders was $7.1 million or $0.43 per diluted share, compared to $12.4 million or $0.70 per diluted share in Q2 2024 [14] Business Line Data and Key Metrics Changes - Dry distiller grain sales volumes were approximately 148,000 tons with an average selling price of $143.63 per ton, down from 133,000 tons at $164.45 per ton in the prior year [12] - Modified distillers grain volumes totaled approximately 19,000 tons at an average selling price of $64.41 per ton [12] - Foreign oil sales volumes increased by approximately 14% year-over-year, with a 26% increase in prices leading to a 46% increase in sales dollars [13] Market Data and Key Metrics Changes - The U.S. corn crop is on track for a potential record harvest, which is expected to benefit REX [18] - Ethanol exports are running about 10% ahead of 2024 levels through June, with expectations for 2025 to set a new export record [17] Company Strategy and Development Direction - REX's strategy is guided by profit, position, and policy, focusing on sustainable long-term organic growth through ethanol expansion and carbon capture initiatives [15] - The company is positioned to maximize benefits from the 45Q and 45Z tax credits, which have been extended through 2029 [10][15] Management's Comments on Operating Environment and Future Outlook - Management anticipates better performance in the second half of 2025 compared to the first half, supported by favorable corn supply trends and steady demand [17] - The company remains confident in its core business outlook and is committed to executing its growth strategy while delivering long-term value to shareholders [18] Other Important Information - REX has invested approximately $126.7 million in carbon capture and ethanol expansion projects, remaining within a combined budget range of $220 million to $230 million [11] - The Board of Directors has authorized a two-for-one stock split, effective for shareholders of record as of September 8, 2025 [5] Q&A Session Summary Question: Can you discuss the event held at the One Earth Energy facility and its implications for local support? - The event was well attended by local officials and shareholders, enhancing community relations and support for growth projects [21][22] Question: Was the issue with the interconnection from the local utility resolved? - Yes, the issue has been resolved, and the company can now obtain utility directly from Amarin [23] Question: What is the outlook for co-products and ethanol margins in the second half? - The third quarter is expected to outperform the second quarter, with favorable feedstock availability and increasing ethanol exports [26][27] Question: What is the status of the CI score and potential credits without a carbon pipeline? - The company has not publicly disclosed its CI score due to unclear guidelines but is optimistic about potential tax credits [32][34] Question: Will the company be able to build the carbon pipeline soon after the expiration of the Illinois moratorium? - The goal is to proceed with construction after receiving necessary approvals, which could allow operations in 2026 [35][36] Question: What is the expected build time for the pipeline once approvals are received? - The pipeline is approximately 6.5 miles long, and construction would take a couple of months once permissions are granted [37][38]

Financial Data and Key Metrics Changes - Ethanol sales volumes increased to 70.6 million gallons in Q2 2025 from 65.1 million gallons in Q2 2024, while the average selling price decreased to $1.75 per gallon from $1.79 [12] - Gross profit for Q2 2025 was $14.3 million, down from $19.8 million in Q2 2024, primarily due to lower sales prices for dry distiller grains and higher shipping costs [13] - Net income attributable to REX shareholders was $7.1 million or $0.43 per diluted share, compared to $12.4 million or $0.70 per diluted share in Q2 2024 [14] Business Line Data and Key Metrics Changes - Dry distiller grain sales volumes were approximately 148,000 tons with an average selling price of $143.63 per ton, down from 133,000 tons at $164.45 per ton in the prior year [12] - Modified distillers grain volumes totaled approximately 19,000 tons at an average selling price of $64.41 per ton [12] - Foreign oil sales volumes increased by approximately 14% with a 26% increase in prices, leading to a 46% increase in sales dollars [13] Market Data and Key Metrics Changes - The U.S. corn crop is on track for a potential record harvest, which is expected to benefit REX [17] - Ethanol exports are running about 10% ahead of 2024 levels, with expectations for 2025 to set a new export record [16][17] Company Strategy and Development Direction - REX's strategy is guided by profit, position, and policy, focusing on sustainable long-term organic growth through ethanol expansion and carbon capture initiatives [15] - The company is positioned to maximize benefits from the 45Q and 45Z tax credits, enhancing the economics of operations and future earning potential [15][16] Management's Comments on Operating Environment and Future Outlook - Management anticipates better performance in Q3 2025 compared to Q2 2025, supported by favorable corn supply trends and steady demand, particularly from rising ethanol exports [16][17] - The company remains confident in its core business outlook and is committed to executing its growth strategy while delivering long-term value to shareholders [17] Other Important Information - REX announced a two-for-one stock split to reward shareholders and increase liquidity, effective for shareholders of record as of September 8, 2025 [5][6] - The company has invested approximately $126.7 million in carbon capture and ethanol expansion projects, remaining within a combined budget range of $220 million to $230 million [11] Q&A Session Summary Question: Can you discuss the event held at the One Earth facility and its implications for local support? - The event was well attended by local officials and shareholders, enhancing community relations and support for growth projects [20][21] Question: Was the issue with the interconnection from the local utility resolved? - Yes, the issue has been resolved, allowing for direct utility access [22] Question: What is the outlook for co-products and ethanol margins? - The third quarter is expected to be better than the second quarter, with strong corn oil production but weaker DDG prices relative to corn [24][27] Question: What is the status of the CI score and potential credits without a carbon pipeline? - The CI score has not been publicly discussed due to unclear guidelines, but the removal of Smart Farming from calculations may help improve the score [31][32] Question: If the Class six well is approved, will construction begin soon after the Illinois moratorium expires? - The goal is to begin construction soon after receiving all necessary permits [33][34] Question: What is the expected build time for the pipeline once approvals are received? - The pipeline construction is expected to take a couple of months once permissions are granted [35]

[Company Overview and Fiscal Second Quarter 2025 Highlights](index=1&type=section&id=Company_Overview_Q2_Highlights) REX American Resources, a leading ethanol producer, reported $0.43 diluted EPS for Q2 '25, announced a 2-for-1 stock split, and advanced its One Earth Energy expansion [Company Profile](index=1&type=section&id=Company_Profile) REX American Resources Corporation is a leading ethanol producer with interests in six facilities, two consolidated and four equity, effectively owning 300 million gallons annually - REX American Resources Corporation is a leading ethanol production company with interests in six ethanol production facilities, totaling approximately **730 million gallons per year** capacity[2](index=2&type=chunk)[3](index=3&type=chunk)[16](index=16&type=chunk) - REX's effective ownership is about **300 million gallons annually**[2](index=2&type=chunk)[3](index=3&type=chunk)[16](index=16&type=chunk) - Two facilities (One Earth, NuGen) are consolidated, while four others are equity investments[2](index=2&type=chunk)[3](index=3&type=chunk)[16](index=16&type=chunk) [Fiscal Second Quarter 2025 Highlights](index=1&type=section&id=Q2_2025_Highlights) REX reported $0.43 diluted net income per share for Q2 '25, announced a 2-for-1 stock split, achieved $158.6 million in net sales, and advanced the One Earth Energy expansion Fiscal Q2 2025 Key Financial Highlights | Metric | Q2 '25 Value | | :----- | :----------- | | Net Income Per Share Attributable to REX Common Shareholders | $0.43 | | Gross Profit | $14.3 million | | Net Sales and Revenue | $158.6 million | | Consolidated Ethanol Sales Volumes | 70.6 million gallons | - Company announced a **2-for-1 stock split** for shareholders of record as of **September 8, 2025**[1](index=1&type=chunk)[2](index=2&type=chunk) - Ethanol expansion project at One Earth Energy is moving forward with completion still expected in **2026**[8](index=8&type=chunk) [Financial Performance](index=1&type=section&id=Financial_Performance) REX's Q2 '25 saw net sales rise to $158.6 million due to higher volumes, but gross profit and net income attributable to shareholders decreased year-over-year [Second Quarter 2025 Results Summary](index=1&type=section&id=Q2_2025_Results_Summary) REX's Q2 '25 net sales increased to $158.6 million due to higher volumes, but gross profit and net income attributable to shareholders declined compared to Q2 '24 Q2 2025 vs. Q2 2024 Financial Summary | Metric | Q2 '25 (Millions) | Q2 '24 (Millions) | Change (YoY) | | :----- | :---------------- | :---------------- | :----------- | | Net Sales and Revenue | $158.6 | $148.2 | +$10.4 (+7.0%) | | Gross Profit | $14.3 | $19.8 | -$5.5 (-27.8%) | | Interest and Other Income | $3.1 | $4.4 | -$1.3 (-29.5%) | | Income Before Income Taxes and Noncontrolling Interests | $12.1 | $19.5 | -$7.4 (-37.9%) | | Net Income Attributable to REX Shareholders | $7.1 | $12.4 | -$5.3 (-42.7%) | | Diluted Net Income Per Share | $0.43 | $0.70 | -$0.27 (-38.6%) | - Net sales and revenue increase primarily reflects higher volumes, despite lower ethanol and dried distiller grain pricing[4](index=4&type=chunk) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated_Statements_of_Operations) For the three months ended July 31, 2025, net sales and revenue increased to $158.563 million, while gross profit decreased to $14.319 million, resulting in diluted EPS of $0.43 Consolidated Statements of Operations (Three Months Ended July 31, in thousands) | Metric | July 31, 2025 | July 31, 2024 | YoY Change | | :-------------------- | :------------ | :------------ | :--------- | | Net sales and revenue | $158,563 | $148,155 | +$10,408 | | Cost of sales | $144,244 | $128,382 | +$15,862 | | Gross profit | $14,319 | $19,773 | -$5,454 | | Income before income taxes and noncontrolling interests | $12,097 | $19,496 | -$7,399 | | Net income attributable to REX common shareholders | $7,111 | $12,378 | -$5,267 | | Diluted net income per share attributable to REX common shareholders | $0.43 | $0.70 | -$0.27 | Consolidated Statements of Operations (Six Months Ended July 31, in thousands) | Metric | July 31, 2025 | July 31, 2024 | YoY Change | | :-------------------- | :------------ | :------------ | :--------- | | Net sales and revenue | $316,903 | $309,386 | +$7,517 | | Cost of sales | $288,242 | $275,162 | +$13,080 | | Gross profit | $28,661 | $34,224 | -$5,563 | | Income before income taxes and noncontrolling interests | $25,723 | $35,459 | -$9,736 | | Net income attributable to REX common shareholders | $15,789 | $22,569 | -$6,780 | | Diluted net income per share attributable to REX common shareholders | $0.95 | $1.28 | -$0.33 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated_Balance_Sheets) As of July 31, 2025, total assets decreased to $700.596 million, cash increased to $240.962 million, short-term investments declined, and the company reported no bank debt Consolidated Balance Sheet Highlights (in thousands) | Metric | July 31, 2025 | January 31, 2025 | Change | | :----- | :------------ | :--------------- | :----- | | Cash and cash equivalents | $240,962 | $196,255 | +$44,707 | | Short-term investments | $69,490 | $162,820 | -$93,330 | | Total current assets | $390,516 | $435,819 | -$45,303 | | Total assets | $700,596 | $720,008 | -$19,412 | | Total current liabilities | $37,085 | $50,443 | -$13,358 | | Total REX shareholders' equity | $545,766 | $560,337 | -$14,571 | - REX had no bank debt as of **July 31, 2025**[13](index=13&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated_Statements_of_Cash_Flows) For the six months ended July 31, 2025, net cash from operations increased to $12.808 million, investing activities rose, and financing activities used $35.634 million, mainly for treasury stock Consolidated Statements of Cash Flows (Six Months Ended July 31, in thousands) | Cash Flow Activity | July 31, 2025 | July 31, 2024 | YoY Change | | :----------------- | :------------ | :------------ | :--------- | | Net cash provided by operating activities | $12,808 | $5,708 | +$7,100 | | Net cash provided by investing activities | $67,533 | $33,772 | +$33,761 | | Net cash used in financing activities | -$35,634 | -$1,837 | -$33,797 | | Net increase in cash and cash equivalents | $44,707 | $37,643 | +$7,064 | - Treasury stock acquired was a significant factor in net cash used in financing activities for the six months ended July 31, 2025, totaling **$33.382 million**[22](index=22&type=chunk) Non-Cash Investing and Financing Activities (Six Months Ended July 31, in thousands) | Non-Cash Activity | July 31, 2025 | July 31, 2024 | | :---------------- | :------------ | :------------ | | Accrued capital expenditures | $694 | $4,573 | | Finance right-of-use assets acquired and liabilities incurred upon lease commencement | $3,381 | $- | [Operational Developments](index=1&type=section&id=Operational_Developments) REX is progressing with its One Earth Energy ethanol expansion, with energy efficiency completed and project completion expected in 2026, while carbon capture permitting anticipates a March 2026 decision [One Earth Energy Ethanol Production Expansion](index=1&type=section&id=One_Earth_Energy_Ethanol_Production_Expansion) REX is progressing with the One Earth ethanol expansion, completing energy efficiency, anticipating project completion in 2026, and incurring $126.7 million in capital expenditures - Expansion of ethanol production at the One Earth facility is progressing, with the energy efficiency initiative completed[6](index=6&type=chunk) - Project completion for ethanol expansion is still anticipated in **2026**[6](index=6&type=chunk) One Earth Project Capital Expenditures | Metric | Value | | :----- | :---- | | Capital expenditures related to One Earth carbon capture and ethanol expansion (end of Q2) | $126.7 million | | Combined budget for project completion | $220-$230 million | [Carbon Capture and Sequestration Project](index=1&type=section&id=Carbon_Capture_and_Sequestration_Project) The One Earth carbon capture project's capture and compression were substantially completed in FY2024, with EPA Class VI permitting ongoing and a final sequestration decision expected in March 2026 - Capture and compression portions of the One Earth carbon capture and sequestration project were substantially completed in **Fiscal Year 2024**[7](index=7&type=chunk) - EPA Class VI injection well permitting process is ongoing for the sequestration project[7](index=7&type=chunk) - Final permitting decision for the sequestration portion is now expected in **March 2026**, moved forward from April 2026[7](index=7&type=chunk) [Corporate Actions & Strategy](index=2&type=section&id=Corporate_Actions_Strategy) REX's Board declared a 2-for-1 stock split, doubling outstanding shares, reflecting management's confidence in the core ethanol business, strategic projects, and future shareholder value [Stock Split Announcement](index=2&type=section&id=Stock_Split_Announcement) REX's Board declared a 2-for-1 stock split as a 100% Common Stock dividend, doubling outstanding shares to 33,057,574, payable September 15, 2025 - Board of Directors declared a **2-for-1 split** of its Common Stock, effected as a **100% Common Stock dividend**[10](index=10&type=chunk) - Dividend payable **September 15, 2025**, to shareholders of record as of **September 8, 2025**[11](index=11&type=chunk) Impact of Stock Split | Metric | Before Split | After Split | | :----- | :----------- | :---------- | | Outstanding Shares of Common Stock | 16,528,787 | 33,057,574 | | Authorized Shares for Repurchase | (Original amount) | Doubled | [Management Commentary](index=2&type=section&id=Management_Commentary) CEO Zafar Rizvi highlighted 20 consecutive quarters of positive earnings, expressed confidence in the core ethanol business and strategic projects, and stated the stock split reflects future shareholder value creation - Q2 '25 marked the **20th consecutive quarter** of positive earnings for REX[14](index=14&type=chunk) - Management is confident in market forces supporting the core ethanol business and committed to expanding value proposition for investors[14](index=14&type=chunk) - Extension of **45Z and 45Q tax credits** in the One Big Beautiful Bill Act is expected to have a potential positive impact on the business[14](index=14&type=chunk)[15](index=15&type=chunk) - The stock split reflects confidence in REX's go-forward business position and its ability to create shareholder value over the near and long-term[15](index=15&type=chunk) [Supplementary Information](index=2&type=section&id=Supplementary_Information) This section outlines forward-looking statements subject to risks and uncertainties, which the company will not publicly update unless legally required, and provides investor contact and conference call details [Forward-Looking Statements](index=3&type=section&id=Forward_Looking_Statements) Forward-looking statements are subject to risks including legislative changes, commodity price volatility, operational efficiency, and carbon sequestration permitting success, with no public updates intended unless legally required - Forward-looking statements are subject to risks and uncertainties, including legislative/regulatory changes, commodity price volatility (corn, ethanol, natural gas), operational efficiency, and success in permitting carbon sequestration facilities[17](index=17&type=chunk) - The Company does not intend to update publicly any forward-looking statements except as required by law[17](index=17&type=chunk) [Investor Information](index=2&type=section&id=Investor_Information) REX hosted a conference call on August 27, 2025, to discuss Q2 results, providing live access and replay details, and lists Douglas Bruggeman and Caldwell Bailey as investor contacts - REX hosted a conference call on **August 27, 2025**, at **11:00 a.m. ET** to discuss fiscal second quarter results, with replay information available[15](index=15&type=chunk) - Investor contacts include Douglas Bruggeman (CFO) and Caldwell Bailey (ICR, Inc.)[18](index=18&type=chunk)

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Core Viewpoint - Purcell & Lefkowitz LLP is investigating REX American Resources Corporation to determine if its directors breached fiduciary duties related to recent corporate actions [1] Group 1 - The investigation is on behalf of shareholders of REX American Resources Corporation [1] - The law firm specializes in representing shareholders affected by securities fraud and breaches of fiduciary duty [3] - Shareholders seeking more information can contact the firm directly for assistance [2]

Company Overview - REX American is a publicly traded company on the NYSE since 1984, focusing on profitable execution and growth in the low carbon future[6,8] - The company has a strong balance sheet with $365.1 million in cash, cash equivalents & short-term investments and $392.5 million in working capital, with no bank debt as of October 31, 2024[9,10] - REX has interest in ethanol production from six facilities across four states, with a total production capacity of approximately 730 million gallons per year, and REX's total ownership is approximately 300 million gallons per year[12,13] Financial Performance - Net sales and revenue for Q3 2024 were $174.9 million, with a gross profit of $39.7 million[9] - Net income attributable to shareholders for Q3 2024 was $1.38 per diluted share[9] - Ethanol sales totaled 75.5 million gallons for Q3 2024, with an average selling price of $1.831 per gallon[21] - Ethanol accounted for approximately 79% of Q3 2024 product revenue, totaling $138.1 million[33] - Sales of Dry Distillers Grain (DDG) accounted for approximately 14% of Q3 2024 product revenue, totaling $25.0 million[33] Carbon Capture and Sequestration (CCS) - The company is developing carbon capture and sequestration capabilities at its One Earth Energy facility, which will produce approximately 560,000 tons of carbon per year[8,16] - The project has three underground injection wells with a capacity to sequester 90 million tons of carbon[16] - The company anticipates potential tax credit benefits of approximately $36 million annually under the 45Q program and approximately $150 million annually under the 45Z program[51] - One Earth submitted applications for 3 Class VI injection well permits with total sequestration capacity of 90 million tons of carbon in October 2022[45]