Green Plains (GPRE) 21st Annual Global Farm to Market Conference summary

Operational improvements and leadership

• Enhanced operational discipline and increased plant utilization rates, reaching 97% in Q1, have driven significant performance gains.

• Business simplification and a focus on core fundamentals have improved returns and efficiency.

• Leadership changes, including a new CEO and CFO, have strengthened the management team and strategic direction.

Regulatory and market environment

• Carbon capture initiatives and eligibility for 45Z credits are boosting earnings, with all facilities qualifying and Nebraska plants benefiting from the Trailblazer Pipeline.

• The margin environment is supported by strong fundamentals rather than geopolitical events, with robust demand heading into the summer driving season.

• E15 adoption is gaining bipartisan support, with expected gradual nationwide rollout and infrastructure grants aiding retailer readiness.

Financial performance and capital allocation

• Increased cash generation is enabling reinvestment in plant improvements and operational efficiency.

• 45Z credits have led to higher EBITDA guidance, with both Nebraska and other plants contributing.

• Capital allocation priorities include plant upgrades, energy efficiency projects, and potential balance sheet optimization as sustainable cash flow improves.