Green Plains (GPRE) Bank of America 2026 Global Agriculture and Materials Conference summary

Management and organizational changes

• New management team and three new board directors joined in the past year, with new committees focused on risk management and strategic planning.

• Implemented new processing models and cross-functional sales and operations planning for data-driven decision-making.

Carbon credits, 45Z, and operational improvements

• Advantage Nebraska project is fully operational, capturing carbon at high rates and improving plant efficiency.

• All plants now qualify for 45Z credits, with improved ethanol yields and lower CI scores through renewable energy credits.

• Guidance for 2024 EBITDA is $188 million, with upside potential from further operational improvements and farm practice credits.

• Ongoing pilots with farmers to leverage no-till and strip-till practices, awaiting final USDA and DOE guidance for additional credit opportunities.

Carbon capture and pipeline developments

• Summit pipeline faces legislative hurdles in Iowa, while Tallgrass partnership is operational.

• Exploring alternatives like truck or rail movement of liquid CO2 for non-pipeline plants.