Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Truist Conference March 2021
20 slides from Green Plains's conference presentation, Mar 25, 2021
Slide 1: Truist Conference Investor Presentation
Truist Conference Investor Presentation March 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements that reflect management’s current views of company performance, industry conditions and future economic environment. These statements are based on assumptions and various factors that are subject to risks and uncertaint
Slide 3: Biorefinery Platform of the Future
Biorefinery Platform of the Future • Green Plains (“GPRE”) is transforming from traditional ethanol into a ag tech sustainable biorefinery platform, innovating through technology to produce sustainable and higher-value products with stable cash flows, for tomorrow’s sustainable economy • Transformat
Slide 4: Our Transformation …
Our Transformation … Our biorefineries’ role in Creating more value every day Carbon Sequestration transforming the corn kernel • Reduced carbon footprint • Reduces Carbon Intensity score of • Transform the commodity into its • Production of higher protein biofuel and ingredients most valuable compo
Slide 5: … to a Sustainable Future
… to a Sustainable Future Tracking our Success Through Milestones Milestones Completed Future Milestones Partner with Novozymes in protein production Begin Clean Sugar production at York Innovation Center Ultra-High Protein production begins at Shenandoah Announce general contractor to accel
Slide 6: An Ag-tech Platform – Fluid Quip Technologies (FQT)
An Ag-tech Platform – Fluid Quip Technologies (FQT) Acquisition and partnerships accelerate technology deployment • The company owns significant intellectual property and is one of the only commercially proven sustainable ultra-high protein technologies for dry mill production facilities • Successfu
Slide 7: Strategic Opportunities Across Multiple Products
Strategic Opportunities Across Multiple Products • Sustainable Ultra-High Protein - sustainable ingredients for high-value global markets in pet, aquaculture, dairy and poultry industries • Renewable Corn Oil - low carbon feedstock for high-growth renewable diesel industry • Specialty Alcohol – high
Slide 8: 2024E Run-Rate EBITDA
2024E Run-Rate EBITDA Assumptions • Assets produce at 95% of capacity on 958 MGY of capacity(1) • Potential contributions from fuel ethanol business excluded $500 Sustainable Ultra-High Protein • Protein capital investment of ~$400M based on 11 ethanol plants, with ~$345M remaining to be spent • Pro
Slide 9: Introduction to Protein Initiative
Introduction to Protein Initiative Sustainable Ultra-High Protein Product Advantages • Flexible protein concentration starting at 50% • Animal free source: vegetable (75%) and fungal (25%) • Cornerstone ingredient for developing new feed rations, freedom of formulation • High digestibility and addit
Slide 10: Creating Value Through Protein Innovation
Creating Value Through Protein Innovation Sustainable Ultra-High Protein J-Curve of Protein Opportunity Gen II Developments • World protein demand is growing across every major sector driven by population growth, economics and availability • Sustainable ultra-high protein production technology incre
Slide 11: Renewable Corn Oil (Renewable Diesel Input)
Renewable Corn Oil (Renewable Diesel Input) Renewable Corn Oil Renewable Corn Oil Demand Growth Taking Advantage of the Unique Drivers in Renewable Corn Oil Driven by sustainability initiatives, renewable Renewable Corn Oil Price (Cents per Pound) Renewable Corn Oil Margin Increase corn oil volumes
Slide 12: Premium High-Purity, Specialty Alcohol
Premium High-Purity, Specialty Alcohol Specialty Alcohol Industry Update US Annual Sales of Cleaning • Consumer demand for sanitizers and disinfectants has vastly accelerated with Products ($bn) the ongoing COVID-19 pandemic and heightened consumer awareness of $4 infection prevention $3.4 • Special
Slide 13: Clean Sugar Market
Clean Sugar Market Clean Sugar • New sugar demand growth is being driven by biology focused companies who use sugar as a feedstock for their bio-processes ꟷ Increased penetration of bio-based processes drives additional ‘sugar’ needs of 7-14 billion pounds ꟷ Growing demand for fermentation to produc
Slide 14: Carbon Sequestration Initiative
Carbon Capture and Carbon Sequestration Initiative Sequestration Opportunity to increase margins by $0.15 / gallon with no capital required from the ethanol facilities, in addition to potential for carbon credits, 45Q tax incentives and direct returns on investments in the pipeline and Summit Carbon
Slide 15: Biorefinery of the Future - Single 100 MGY Plant Unit Economics
Biorefinery of the Future - Single 100 MGY Plant Unit Economics ~$100M incremental run-rate EBITDA uplift for MSC technology implementation and full conversion of a 100 MGY biorefinery Added MSC • MSC at $0.21 per gallon of EBITDA Single Plant Increase/ Plant Economics(1) Technology GP 1.0 (Decrease
Slide 16: Current Capitalization & Funding
Current Capitalization & Funding Recent Financings and Transactions Pro Forma ($ in millions) 12/31/20 Adjustments 2 Pro Forma • $125 million mezzanine notes with BlackRock Cash, cash equivalents & restricted cash $274.8 $419.1 $693.9 • $230 million convertible notes due 2027 Debt 1 4.125% convertib
Slide 17: A Real ESG Story
A Real ESG Story Carbon Sequestration • Zero Carbon Footprint – With an opportunity to meter and sequester all carbon, Green Plains can lead a zero-carbon footprint for the renewable fuels industry, creating on of the largest projects, globally • Lower CI Scores – Will make biofuels from sequestered
Slide 18: Investment Highlights
Investment Highlights Proven Track • Seasoned management team with proven track record of managing risk and allocating capital in various cycles Record with the ability to execute on key strategic initiatives to grow value • Scalable asset base developed over the past 13 years serves as the foundati
Slide 19: www.gpreinc.com
B= Green Plains Ingredients that matter www.gpreinc.com
Slide 20: Glossary
Glossary • BOS – Brix Oil Separation System • CCS – Carbon Capture and Storage • CI – Carbon Intensity • CST – Clean Sugar Technology • DDG – Dried Distillers Grains • FQT – Fluid Quip Technologies • GPRE – Green Plains Inc. • GNS – Grain Neutral Spirits • GPP – Green Plains Partners • LCFS – Low Ca