Green Plains (GPRE) Registration Filing summary

Company overview and business model

• Founded in 2004, operates as a leading biorefining company focused on low-carbon fuels and value-added agricultural technology, transitioning from commodity processing to sustainable, high-value ingredients using fermentation and patented technologies.

• Operates two segments: Ethanol Production (ten biorefineries across six states, producing ethanol, distillers grains, Ultra-High Protein, and renewable corn oil) and Agribusiness and Energy Services (grain procurement, storage, and commodity marketing).

• Implements carbon capture and sequestration projects at multiple facilities, aiming to significantly reduce carbon intensity and benefit from clean fuel programs and federal tax credits.

• Engaged in technology collaborations to enhance protein and oil extraction, and exploring sustainable aviation fuel (SAF) production through joint ventures.

Financial performance and metrics

• At full capacity, facilities process approximately 310 million bushels of corn annually, producing 903 million gallons of ethanol, 2.2 million tons of distillers grains and Ultra-High Protein, and 310 million pounds of renewable corn oil.

• Margins are highly dependent on commodity prices for ethanol, corn, distillers grains, Ultra-High Protein, renewable corn oil, and natural gas; profitability is subject to market volatility.

• On May 7, 2025, amended $125 million junior secured mezzanine notes with BlackRock, extending maturity to May 15, 2026, with a 2% amendment fee and potential warrant repricing if not repaid by July 31, 2025.

• Junior Notes now classified as current debt, with ongoing efforts to refinance or repay; failure to do so may raise substantial doubt about ability to continue as a going concern.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, potential repayment of outstanding debt, and possible acquisitions or investments in complementary businesses, products, or technologies.

• Actual allocation of proceeds for any specific offering will be detailed in the relevant prospectus supplement.