Alto Ingredients, Inc. · NASDAQ:ALTO
Alto Ingredients — Q1 2025 Earnings Presentation
24 slides from Alto Ingredients's earnings presentation, May 7, 2025
Slide 1: Elevating Essential Products
Elevating Essential Products Leading producer of specialty alcohols and high quality ingredients Q1 2025 INVESTOR PRESENTATION reported on May 7, 2025 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements and information contained in this communication that refer to or international demand for the company’s products; unexpected repair and include Alto Ingredients’ estimated or anticipated future results or other non- maintenance expenses; fluctuations in the price of
Slide 3: Transforming corn into the highest-quality, sustainable ingredients
Transforming corn into the highest-quality, sustainable ingredients that make everyday products better 3
Slide 4: Producer and distributor of specialty alcohols, renewable fuels and essential ingredients
Producer and distributor of specialty alcohols, renewable fuels and essential ingredients 4
Slide 5: Unlocking Value
Unlocking Value Targeting premium markets • Implemented Cost Saving Initiatives, with high quality products Improving Profitability • Optimizing Carbon with Acquisition Supporting the reduction in carbon and Other Initiatives emissions by pursuing CCS Optimizing asset base & executing efficiency ini
Slide 6: 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 & Distillery Yeast Plant Pekin, Illinois Kinergy Marketing LLC Pekin, Illinois Alto ICP, LLC Dry Mill &
Slide 7: 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 RENEWABLE
Slide 8: Optimizing Carbon
Optimizing Carbon BENEFITS OF CCS AT PEKIN FACILITIES Acquired beverage-grade liquid CO2 processor IRC Section 45Q tax incentives would improve economics > $7.25M + working capital; accretive, compelling payback > Amended long-term sales offtake agreement Mount Simon Sandstone formation, Evaluating
Slide 9: Growth Catalyst for Ethanol Producers
Growth Catalyst for Unlocking Growth, Savings and Sustainability for Ethanol Producers America’s Fuel Future E15 EXPANDING MARKET OPPORTUNITY > 50%, or 5-7BG, potential increase in U.S. ethanol demand if national year-round E15 adoption 1 > ~670MGY in CA when going from E10 to E15 (pending approval)
Slide 10: Sustainability Efforts
Sustainability Efforts Published Second Sustainability Report in October 2024 EARNED AT PEKIN CAMPUS > Safe Food/Safe Feed - a third-party product safety certification > 2 EcoVadis Bronze Medals, 35th percentile among peers COMPLETED MATERIALITY SURVEY & INITIAL ROADMAP > Strengthened environmental,
Slide 11: Certifications Create Differentiation
Certifications Create Differentiation Deepen Relationships & 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 sm
Slide 12: Quality Customer Base
Quality Customer Base HEALTH, HOME FOOD & INDUSTRY & ESSENTIAL RENEWABLE & BEAUTY BEVERAGE AGRICULTURE INGREDIENTS FUELS CUSTOMERS PRIORITIZE ALTO’S CERTIFICATIONS, RELIABILITY, SERVICE & QUALITY 12
Slide 13: Financial Highlights
Financial Highlights IMPROVING PERFORMANCE UNAUDITED, MAR. 31, DEC. 31, $ IN MILLIONS 2025 2024 Q1 2025 vs Q1 2024: > $0.6M gross loss improvement CASH & CASH to $(1.8)M from $(2.4)M $26.8 $35.5 EQUIVALENTS > $2.7M Adj. EBITDA improvement to $(4.4)M from $(7.1)M CURRENT ASSETS $153.5 $153.1 STRONG L
Slide 14: Expanding Higher-Margin Production & Improving Profitability
Expanding Higher-Margin Targeting premium markets Production & Improving with high-quality products Profitability Supporting the reduction in carbon emissions by pursuing CCS Optimizing asset base & executing efficiency initiatives Advancing traceability & sustainability certifications & programs Br
Slide 15: Appendix
APPENDIX 15
Slide 16: 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 17: Experienced Leadership Team
Experienced Leadership Team Bryon McGregor Todd Benton Rob Olander, CPA Jim Sneed Auste Graham President & CEO Chief Operating Officer Chief Financial Officer Chief Commercial Officer Chief Legal Officer & Secretary 17 years with Alto 26 years with Alto(1) 18 years with Alto 33 years with Alto(1) 3
Slide 18: 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 13 years with Alto 25 years with Alto(1) & Sustainability 18 years with Alto 18 years with Alto 11
Slide 19: Consolidated Statements of Operations
Consolidated Statements of Operations Three Months Ended March 31, (in thousands) (unaudited) 2025 2024 Net sales $ 226,540 $ 240,629 Cost of goods sold 228,347 243,029 Gross loss (1,807) (2,400) Selling, general and administrative expenses (7,190) (7,932) Loss from operations (8,997) (10,332) Inter
Slide 20: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION 20
Slide 21: Use of Non-GAAP Measures
Use of Non-GAAP Measures Management believes that certain financial measures not in accordance with have the same financial information that management uses, which may generally accepted accounting principles (“GAAP”) are useful measures of assist investors in properly assessing the company’s perfor
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended March 31, (in thousands) (unaudited) 2025 2024 Net loss $ (11,679) $ (11,725) Adjustments: Interest expense 2,729 1,634 Interest income (84) (175) Unrealized derivatives gains (1,634) (3,190) Acquisition-related expense — 675 Depreciation and amortiz
Slide 23: Segment Results
Segment Results (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Net sales Pekin Campus production, recorded as gross: Alcohol sales $ 107,234 $ 108,350 Essential ingredient sales 44,618 46,709 Intersegment sales 297 321 Total Pekin Campus sales 152,149 155,380 Marketing and distrib
Slide 24: For more information, contact
FOR MORE INFOMATION, CONTACT: info@altoingredients.com (833) 710-ALTO ir.altoingredients.com @altoingredients facebook.com/AltoIngredients linkedin.com/company/alto-ingredients 24