Slide 1: Pacific Ethanol, Inc. First Quarter 2013 Investor Presentation
Pacific Ethanol, Inc. Nasdaq: PEIX First Quarter 2013 Investor Presentation
Slide 2: Cautionary Statements
Cautionary Statements With the exception of historical information, the matters discussed in this presentation including, without limitation, the ability of Pacific Ethanol to continue as the leading marketer and producer of low - carbon renewable fuels in the Western United States; the ability of P
Slide 3: Building to Support Long-term Growth: Recent Achievements
3 Increased plant ownership to 83% Eliminated nearly all plant debt due in June 2013 Secured additional liquidity for plants Evaluated opportunities to increase plant ownership Implemented a more cost - competitive plant debt structure Building to Support Long - term Growth: Recent Achievements Corn
Slide 4: Increasing Ownership Interest
4 Increasing Ownership Interest 4 Ethanol plants owned by New PE Holdco, LLC (NPEHC) Capitalized on opportunity to increase ownership interest in NPEHC from 20% in 2010 to 83% Purchased at improvingly favorable valuations to market and replacement value Weighted average purchase price per gallon red
Slide 5: Diversifying Revenue: Corn Oil Separation
5 5 Diversifying Revenue: Corn Oil Separation Corn oil is a high - value ethanol co - product Completing installation of corn oil separation technology at Magic Valley & Stockton plants Discussions underway with vendors to implement production at remaining plants Corn oil has many markets F eed mark
Slide 6: Improving Margin Environment
6 P roduction margins recovering to more favorable levels Source: PEIX Improving Margin Environment * Calculated by using CBOT Ethanol - CBOT Corn *(1 - Co product return)/ 2.74. Using PEI co product return as disclosed in 10 - Q for each quarter assumes a standard 2.74 in corn yield, consistent acr
Slide 7: First Quarter 2013 Financial Results
7 First Quarter 2013 Financial Results For the 3 mos. ended (in thousands, unaudited) March 31, 2013 March 31, 2012 Net sales $ 225,459 $ 197,719 Gross profit (loss) $ 846 $ (7,477) SG&A $ 4,005 $ 3,378 Consolidated Net Loss $ (6,602) $ (13,991) Net loss to CS $ (5,766) $ (5,268) Adjusted EBITDA $ 3
Slide 8: How to Submit Proxy Votes
8 How to Submit Proxy Votes You have two options to submit your vote Telephone – Contact Georgeson at (800 ) 790 - 6795 Internet – www.proxyvote.com If voting via the Internet, you will need your 12 - digit control number from your proxy card to vote. For assistance in casting your vote, please cont
Slide 9: Pacific Ethanol's Value Proposition
9 Strong long - term demand for ethanol Pacific Ethanol’s Value Proposition Supported by federal and state regulations requiring increased use of renewable fuels Ethanol trades at a discount to gasoline, providing economic incentives to fuel blenders and consumers High octane level provides refiners
Slide 10: Executing Strategy to Build Shareholder Value
10 10 Executing Strategy to Build Shareholder Value Pacific Ethanol is the leading marketer & producer of low - carbon renewable fuels in the Western United States Taking advantage of opportunities to build the business for the long term : Continue to improve operating efficiencies at the plants Div
Slide 11: Appendix
11 11 Appendix Visit our website at: www.pacificethanol.net
Slide 12: Adjusted EBITDA to Net Loss Reconciling Table
12 * Adjusted for noncontrolling interest in variable interest entity. Reconciling Table For the 3 mos. ended (in thousands, unaudited) March 31, 2013 March 31, 2012 Net loss attributed to Pacific Ethanol $ (5,454) $ (4,953) Adjustments: Interest expense* 2,731 1,149 Interest income* -- -- Warrant i