Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Credit Suisse Conference 2021
20 slides from Green Plains's conference presentation, Mar 2, 2021
Slide 1: Credit Suisse Conference Investor Presentation
Credit Suisse Conference Investor Presentation March 2021 1
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 of the Future
Biorefinery of the Future • Green Plains (Company) continues to transform its business from traditional ethanol into a sustainable biorefinery platform focused on leveraging technologies to produce more sustainable products with higher and more stable cash flows • Extensive current asset base of bio
Slide 4: Reinventing Green Plains
Reinventing Green Plains Refining our Platform – Building for Growth Carbon Sequestration Partnership with Summit Carbon Solutions $30.0 Portfolio Rationalization Sell Ord, Nebraska Ethanol Plant Financing $25.0 Strategic Relationships Completes York USP Hayashikane Partnership Upgrade Strategic $20
Slide 5: Reinventing Green Plains
Reinventing Green Plains Refining our Platform – Building for Growth Our biorefineries’ role in Extracting more value every day Carbon Sequestration transforming the corn kernel • Lower operating costs • Reduces Carbon Intensity score of • We use mechanical and enzymatic • Reduced carbon footprint b
Slide 6: 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 7: 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 ~$345M remaining to be spent • Pro
Slide 8: An Ag-tech Powerhouse – Fluid Quip Technologies (FQT)
An Ag-tech Powerhouse – Fluid Quip Technologies (FQT) Partnership and acquisition accelerate technology deployment • The company owns significant intellectual property and is one of the only commercially proven sustainable ultra-high protein technologies for dry mill production facilities • Successf
Slide 9: Introduction to Protein Initiative
Introduction to Protein Initiative Sustainable Ultra-High Protein Product Advantages • Flexible protein concentration starting at 50% • Animal free source: vegetable (75%) and fungal (25%) • Cornerstone ingredient for developing new feed rations, freedom of formulation • High digestibility and addit
Slide 10: Strategic Partnerships Drive Continuing Innovation
Strategic Partnerships Drive Continuing Innovation Sustainable Ultra-High Protein J-Curve of Protein Opportunity Gen II Developments Fishmeal • World demand in protein is growing across every major sector driven Analogue by population growth, economics and availability 60% Protein • Sustainable ultr
Slide 11: Renewable Corn Oil
Renewable Corn Oil Renewable Corn Oil Renewable Corn Oil Demand Growth Taking Advantage of the Unique Drivers in Renewable Corn Oil Driven by sustainability initiatives, renewable Renewable Corn Oil Price (Cents per Pound) Renewable Corn Oil Margin Increase corn oil volumes are growing exponentially
Slide 12: Premium High-Purity, Specialty Alcohol
Premium High-Purity, Specialty Alcohol Specialty Alcohol Industry Update US Annual Sales of Cleaning • Consumer demand for sanitizers and disinfectants has vastly accelerated with Products ($bn) the ongoing COVID-19 pandemic and heightened consumer awareness of $4 infection prevention $3.4 • Special
Slide 13: Clean Sugar Opportunity
Clean Sugar Opportunity Clean Sugar • New sugar demand growth is being driven by biologic 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
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 With • MSC at $0.21 per gallon of EBITDA Single Plant Increase/ Plant Economics(1) Technology GP 1.0 (Decrease) GP
Slide 16: Leverage and Liquidity
Leverage and Liquidity Annual Historical Total Debt(1) Annual Cash Balance(2) ($ M) ($ M) Management has maintained a conservative and $1,361 $412 stable cash profile and has successfully ~57% navigated through COVID-19 127 $1,109 Reduction $356 129 $312 526 $891 $283 $275 291 134 $270 $652 $619 $59
Slide 17: A Real ESG Story
A Real ESG Story Project 24 • Lower Energy - Installation of Project 24 technology reduces gas use by 20% and power use by 20% • Higher Efficiency - Lowers overall operating cost in terms of chemical use by 15%, water requirements by 10%, and increases renewable corn oil recovery by 10% MSC Technolo
Slide 18: Investment Highlights: Why Green Plains?
Investment Highlights: Why Green Plains? 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 • Tremendous asset base developed over the past 13 years w
Slide 19: www.gpreinc.com
&> Green Plains Ingredients that matter
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