Green Plains (GPRE) Stephens 26th Annual Investment Conference | NASH2024 summary

Strategic transformation and growth initiatives

• Transitioning from traditional ethanol to higher-value products like proteins, oils, sugars, and decarbonization, with a major inflection point targeted for 2025.

• Significant progress in carbon capture, clean sugar, and protein initiatives, leveraging regulatory support and market trends.

• Export demand for products remains strong, with high competitiveness in global markets.

• Ongoing adaptation to regulatory and market changes, with optimism for continued support and business stability.

Carbon capture and Trailblazer project updates

• Trailblazer carbon capture project in Nebraska is advancing, with lateral pipes being laid and carbon capture equipment ordered for Q2 delivery.

• No cash outlay required for hookup; Tallgrass is handling construction and financing.

• Six wells in Wyoming approved for carbon sequestration, with in-service expected mid to late Q3 2025.

• Projected $130 million annual EBITDA run rate under 45Z, with potential for further monetization and expansion at Central City.

High protein and Sequence initiatives

• High protein (50 Pro) strategy adjusted due to increased global soy protein supply and price compression.

• Focus shifting to volume and commodity mindset for 50 Pro, while maintaining premium for specialized buyers.

• Targeting 20% of high protein output for 60 Pro Sequence market in 2025, with anticipated PET and aquaculture market penetration.

• Expecting market absorption of excess protein supply over the next few years.