Alto Ingredients, Inc. · NASDAQ:ALTO
Alto Ingredients — Q1 2026 Earnings Presentation
23 slides from Alto Ingredients's earnings presentation, May 6, 2026
Slide 1: Elevating Essential Products
Elevating Essential Products Leading producer of specialty alcohols and high-quality ingredients Q1 2026 INVESTOR PRESENTATION reported on May 6, 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements and information contained in this communication that the company’s products; fluctuations in the price of and demand for oil refer to or include Alto Ingredients’ estimated or anticipated future and gasoline; raw material costs, including production input costs, resu
Slide 3: Our mission is to produce the highest quality, sustainable ingredients
Our mission is to produce the highest quality, sustainable ingredients that make everyday products better 3
Slide 4: Driving growth and delivering valuable ingredients through efficiency, diversification and sustainability
Driving growth and delivering valuable ingredients through efficiency, diversification and sustainability 4
Slide 5: Q1 2026 – Strong Results vs Historical Q1 Performance
Q1 2026 – Strong Results vs Historical Q1 Performance ➢ Profitable on an Adjusted EBITDA and net income basis • Net income of $4.0 million, or $0.05 per share versus net loss of $12.0 million, or $0.16 per share • Adjusted EBITDA of $4.7 million versus negative Adjusted EBITDA of $4.4 million • Stro
Slide 6: Regulatory Trends Positive for Industry
Increasing the Intrinsic Value of Alto’s Facilities Regulatory Trends > Recorded $3.9M of net 45Z credit earnings ($0.20/gallon) for Q1 2026 Positive for Industry > Expect to generate $15M ($0.20/gallon) in net proceeds from 45Z for 2026 > Executing plans for ~$25 million in capital expenditures dur
Slide 7: Targeting Premium Markets
Alto Columbia, LLC Alto Ingredients, Inc. Targeting Alto Carbonic, LLC Alto Pekin, LLC Dry Mill Headquarters Beverage-grade liquid CO2 processor Dry Mill Premium Markets Boardman, Oregon Wet Mill Yeast Plant Pekin, Illinois Kinergy Marketing LLC Pekin, Illinois Alto ICP, LLC Distillery MAKING EVERYD
Slide 8: Making Everyday Products Better
Making Everyday Products Better HEALTH, HOME FOOD & INDUSTRY & ESSENTIAL RENEWABLE & BEAUTY BEVERAGE AGRICULTURE INGREDIENTS FUELS ALTO’S 100% API Grade Grain Neutral Industrial Grade Alto Yeast® Transportation Fuel: BIO-BASED Ethyl Alcohol Spirits Ethyl Alcohol Corn Meal, Oil, Germ Ethanol RENEWABL
Slide 9: Best-in-Class Sustainability Program
Best-in-Class Sustainability Program EARNED AT PEKIN CAMPUS FACILITIES > Safe Food/Safe Feed - a third-party product safety certification A white circle with black text and a black background AI-generated content may be incorrect. > EcoVadis Silver Medal at ICP, 87th percentile among peers1 > EcoVad
Slide 10: Certifications Create Differentiation
Certifications Create Differentiation Deepen Relationships and Open Doors to New Customers SPECIALTY ALCOHOLS & ESSENTIAL INGREDIENTS Are more challenging to produce Require audits, equipment and testing validation, and other prerequisite programs Create significant product performance impact for a
Slide 11: Quality Customer Base
Quality Customer Base HEALTH, HOME FOOD & INDUSTRY & ESSENTIAL RENEWABLE & BEAUTY BEVERAGE AGRICULTURE INGREDIENTS FUELS CUSTOMERS PRIORITIZE ALTO’S CERTIFICATIONS, RELIABILITY, SERVICE AND QUALITY 11
Slide 12: Enhanced Earnings Profile
Enhanced Earnings Profile Increased Gross Profit $11.0M, Net Income $16.0M and Adj. EBITDA $9.1M In Q1 2026 VS. Q1 2025 UNAUDITED, $ IN MILLIONS Q1 2026 Q1 2025 SEGMENTED GROSS PROFIT Q1 2026 vs. Q1 2025 NET SALES $224.7 $226.5 GROSS PROFIT (LOSS) $9.2 $(1.8) PEKIN CAMPUS > Up $11.3M to $8.2M NET IN
Slide 13: Unlocking Value, Managing Liquidity, Enhancing Earnings Power
Unlocking Value, Managing Liquidity, Optimizing asset base and executing efficiency initiatives Enhancing Earnings Power Targeting premium and diversified markets with significant opportunities Ramping up capex while maintaining strong cost discipline and prioritizing strong returns Leveraging Secti
Slide 14: Appendix
APPENDIX 14
Slide 15: Building on a Rich Foundation
Building on a Rich Foundation 1899 Illinois Sugar Refining 1998 2005 Company (now Alto Pekin) Yeast Plant MGP Ingredients Began producing Constructed and Began producing fuel sugar from beets 1995 began producing yeast November 1998 ethanol May 2005 2022 Williams 2007 Eagle 1981 Bio- Alcohol Co. Pek
Slide 16: Experienced Leadership Team
Experienced Leadership Team Bryon McGregor Todd Benton Rob Olander, CPA Jim Sneed Auste Graham, JD President & CEO Chief Operating Officer Chief Financial Officer Chief Commercial Officer Chief Legal Officer & Secretary 18 years with Alto 27 years with Alto(1) 19 years with Alto 34 years with Alto(1
Slide 17: Senior Management with Deep Bench Strength
Senior Management with Deep Bench Strength Patrick McKenzie John Shriver Stacy Swanson Ed Baker Michael Kramer VP, Business Development VP, Operations VP, EHS, Quality VP, Human Resources VP, Treasurer 14 years with Alto 26 years with Alto(1) & Sustainability 19 years with Alto 19 years with Alto 13
Slide 18: Consolidated Statements of Operations
Consolidated Statements of Operations Three Months Ended March 31, 2026 2025 Net sales $ 224,680 $ 226,540 Cost of goods sold 215,461 228,347 Gross profit (loss) 9,219 (1,807) Selling, general and administrative expenses 6,699 7,190 Income (loss) from operations 2,520 (8,997) Interest expense, net (
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION 19
Slide 20: Use of Non-GAAP Measures
Use of Non-GAAP Measures Management believes that certain financial measures not in accordance with measure so that investors will have the same financial information that generally accepted accounting principles (“GAAP”) are useful measures of management uses, which may assist investors in properly
Slide 21: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended March 31, (in thousands) (unaudited) 2026 2025 Net income (loss) $ 4,271 $ (11,679) Adjustments: Interest expense, net 2,198 2,729 Interest income (77) (84) Unrealized derivative gains (8,073) (1,634) Depreciation and amortization expense 6,366 6,266
Slide 22: Segment Results
Three Months Ended March 31, Segment Results Net Sales 2026 2025 Pekin Campus production: Alcohol sales $ 107,952 $ 107,234 Essential ingredient sales 43,993 44,618 Intersegment sales 262 297 Total Pekin Campus sales 152,207 152,149 Marketing and distribution: Alcohol sales, gross $ 47,326 $ 49,058
Slide 23: info@altoingredients.com (833) 710-ALTO
FOR MORE INFOMATION, CONTACT: info@altoingredients.com (833) 710-ALTO ir.altoingredients.com linkedin.com/company/alto-ingredients 23