Slide 1: Third Quarter 2023 Business Update
Third Quarter 2023 Business Update October 31, 2023
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: Green Plains Inc.
Green Plains Inc. 3
Slide 4: Third Quarter 2023 Results
Third Quarter 2023 Results Results of Operations • Net income attributable to Green Plains of $22.3 million, or EPS of $0.35 per diluted share • EBITDA of $52.0 million • Cash and cash equivalents, and restricted cash of $366.2 million and $200.0 million available under a committed credit facility P
Slide 5: Business Activity & Updates
Business Activity & Updates • Returned to full run rate capabilities across the biorefinery platform • Outlook for the fourth quarter of 2023 remains strong based on continuing strong production operating rates, industry fundamentals and expanding Ultra-High Protein sales • Completed successful 60%
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands) For the three months ended September 30, 2023 2022 Ethanol production Ethanol sold (gallons) 223,469 219,166 Distillers grains sold (equivalent dried tons) 514 571 Ultra-High Protein sold (tons) 61 15 Renewable corn oil sold (pounds) 74,227 72
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended September 30, 2023 2022 (in millions) Ethanol production Operating income (loss) (1) $ 12.0 $ (64.1) Depreciation and amortization 21.8 21.5 Total adjusted ethanol production $ 33.8 $ (42.6) Intercompany fees, net Storage and log
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended September 30, 2023 2022 Revenues $ 892.8 $ 955.0 Costs and expenses 871.6 1,016.9 Operating income (loss) $ 21.2 $ (61.9) Other expense (2.8) (8.0) Income tax benefit 7.8 1.9
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Sep. 30, 2023 Dec. 31, 2022 Cash and cash equivalents, and restricted cash $ 366.2 $ 500.3 Working capital $ 173.9 $ 101.8 Working capital financing (1) (159.7) (137.7) Working capital, net $ 14
Slide 10: Green Plains Partners LP
Green Plains Partners LP Green Plains
Slide 11: Selected Operating Data
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended September 30, 2023 2022 Product volumes (mmg) Storage and throughput services 225.1 219.7 Terminal services 56.4 47.9 Railcar capacity billed (daily avg.) 69.6 74.7 11
Slide 12: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet Green Plains Partners LP (in millions) For the period ending Sep. 30, 2023 Dec. 31, 2022 Assets Current assets $ 32.6 $ 34.6 Property and equipment, net 24.8 26.1 Operating lease right-of-use assets 48.7 47.0 Other assets 14.2 13.7 Total assets $ 120.3 $ 121.4 Li
Slide 13: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Partners LP (in millions, except per unit amounts) For the three months ended September 30, 2023 2022 Revenues $ 20.1 $ 20.0 Operating expenses 9.1 8.4 Operating income $ 11.0 $ 11.6 Interest expense, net (1.8) (1.5) Income from equity method inve
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions, except ratios) Three Months Ended LTM September 30, Sept. 30, 2023 2022 2023 Net income $ 9.4 $ 10.2 $ 38.3 Interest expense, net 1.8 1.5 7.0 Income tax expense — — 0.2 Depreciation and amortization 0.8 1.2 3.6 Transaction costs 1.7 — 2.
Slide 15: Appendix
Appendix as . = Green Plains 15
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended September 30, 2023 2022 Net income (loss) $ 26.3 $ (67.9) Interest expense 9.6 9.6 Income tax benefit (7.8) (1.9) Depreciation and amortization (1) 23.9 24.6 EBITDA $ 52.0 $ (35.6) Other income (2) (3.4) — Gain on sal