REX American Resources (REX) investor relations material

Executive summary

• Achieved record first quarter net income per share of $0.56, marking the 23rd consecutive profitable quarter and the most profitable Q1 in company history.

• Advanced major growth projects, including ethanol production expansion at One Earth Energy and carbon capture and sequestration initiatives.

• Ethanol production capacity at One Earth Energy is being expanded from 150 to 200 million gallons per year.

• Maintained a strong financial position with no bank debt and significant cash reserves.

• Publicly traded since 1984, with a focus on ethanol production and Midwest expansion.

Financial highlights

• Net income attributable to shareholders was $18.5 million ($0.56 per diluted share), up from $8.7 million ($0.26 per share) in Q1 2025.

• Net sales and revenue were $156.5 million, with gross profit of $29.1 million, and gross profit margin doubled to 19% from 9% year-over-year.

• Ethanol sales volumes were 71.1 million gallons, with an average selling price of $1.66/gallon (down from $1.76).

• Recorded $7.5 million in 45Z production tax credits for the quarter.

• Ended the quarter with $364.3 million in cash equivalents and short-term investments.

Outlook and guidance

• Ethanol facility expansion at Gibson City/One Earth remains on track, with testing and commissioning expected soon and full operations during fiscal 2026.

• CCS project at One Earth aims to sequester 560,000 tons of carbon annually, pending regulatory approvals.

• Awaiting final rules from the US Treasury on 45Z tax credits, which could provide up to $150 million annually during 2025-2029.

• Confident in delivering another profitable quarter, with stable domestic demand and strong export markets.

• Monitoring regulatory developments, including the expiration of the Illinois carbon pipeline moratorium in July 2026.