Slide 1: Pat Gruber, CEO
Pat Gruber, CEO __ August 14, 2019
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Any statements in this presentation about our future expectations, plans, outlook and prospects, and other statements containing the words “believes,” “anticipates,” “plans,” “estimates,” “expects,” “intends,” “may” and similar expressions, constitute forward-looking state
Slide 3: We Are Going After the "Whole Gallon"
WE ARE GOING AFTER THE “WHOLE GALLON” ¢ Potential to make a dramatic difference in GHG profile of liquid transportation fuels. — Potential exists to make fully renewable full gallons of drop in fuels with very low, or even negative carbon footprint with a focus on gasoline and jet * Compliment elect
Slide 4: How to Replace the Carbon Source and Energy Source to Eliminate GHGs from Fuels
HOW TO REPLACE THE CARBON SOURCE AND ENERGY SOURCE TO ELIMINATE GHG’S FROM FUELS Carbon Source Non-Fossil Based Electricity And Steam — — Seco > Increased co, Reduced co,
Slide 5: Low Carbon Cycle
LOW CARBON CYCLE MIDWEST USA >2 Ibs of CO2 sequestered per gallon!. Could be much higher according to recent reports Sustainable 10 Ibs of protein/feed per gallon of hydrocarbon fuel aD Wind Power a ' ne Dairy, Beef, Poultry & Pigs to Food 100% of nutritional value is . captured and put into the foo
Slide 6: Cellulosic Feedstocks Are Enabled
raj Cane, Molasses, Bagasse, Rice Straw, Wheat Straw, Corn Stover CELLULOSIC FEEDSTOCKS ARE ENABLED Enables potential global scale ‘ he, ae _fARenmatix Wood, Forestry Residues, Slash, Stover
Slide 7: Driving the Carbon Score (CI) Down
DRIVING THE CARBON SCORE (CI) DOWN We are planning to use wind electricity and manure ee 5 - ype biogas, both accepted in CA Ethanol 20 PETROJET rs COP EMSSIONS x ig Below this line is where 5 “ Gevo wants to be G/M) FUEL cot SONS CAPTURE SOIL 20: orn Molasses hum: CARBON ei Feedstock The CI has pot
Slide 8: Improve Sustainability for Fuels and Food
IMPROVE SUSTAINABILITY FOR FUELS AND FOOD Improved Ag expected to enable lower CI score eee $= Farmers who supply Gevo Farm (499C02e/ka) typically have 50% lower GHG “ze emissions than average US ~ | farmer H : = #% Improvements are driven by iii & me moving precision agriculture, | eo Ea 3 modern e
Slide 9: How to Reverse GHGs and Generate Protein for Food Chain
HOW TO REVERSE GHG’S AND GENERATE PROTEIN FOR FOOD CHAIN Agriculture improvements are practical and being done Waste Carbon wood, ; All Farms Reduced Till No Till Capture straw, «We fully expect to be able to mn Fees Ful 2017 Farms Farms Farms residues meet RED IL, RSB, and ISCC 5 requirements 3 50
Slide 10: Step 1 - Road Map to Scale: Set Up Luverne for Low Carbon Alcohol Production
STEP 1-ROAD MAP TO SCALE: SET UP LUVERNE FOR LOW CARBON ALCOHOL PRODUCTION, ADD 1 MGPY HYDROCARBON CAPACITY TO IMPROVE PROFITABILITY Wind Electricity and Combined Biogas from Gevo Energy (in development) 1 MGPY Hydrocarbon Plant : Shockwave Dry Frac (ready to deploy, capacity is sold out (already de
Slide 11: We Are Working to Raise $40M Debt
We are working to raise $40M debt: STEP 1: THE PATH TO IMPROVED PROFITABILITY Wo ee Investment in Gevo Energy and other projects: Up to $9M LOI is in place with potential lender GEVO, INC RNG Offtake RNG To Pipeline Gevo Energy Juhl Energy Agri-Energy (RNG Project Co) (Wind Energy Project) (existing
Slide 12: Step 2 - Road Map to Scale: Build Out Large Scale IBA and Hydrocarbons
STEP 2-ROAD MAP TO SCALE: BUILD OUT LARGE SCALE IBA AND HYDROCARBONS (JET AND ISOOCTANE) Wind Electricity and Combined Heat and Power (CHP) (already in deployment) 7 b 10-12 MGPY Hydrocarbon Plant Capacity is about 50% sold out New IBA Fermenters 4 ‘f 4 Biogas from Gevo Energy Anaerobic Digestion 1
Slide 13: Step 2: The Path to Large Growth
STEP 2: THE PATH TO LARGE GROWTH GEVO INC RNG Offtake s EBITDA RNG To Pipeline Juhl Energy Agri Energy Gevo Energy (Wind Energy Project) (existing ethanol In development, on track and IBA plant) Part 2: Build out of Luverne Anticipated to be project financed. Total project is projected to be about $
Slide 14: Step 3: Grow and License
STEP 3: GROW AND LICENSE BUILD OUT STRATEGIES Side-by-Side at Luverne validates the model of isobutanoV/ethanol co-production /Retrofit * Opportunities exist to completely retrofit and transform underperforming ethanol plants Cee §— * 6 projects in discussion for projects other Brownfields than Luve
Slide 15: Let's Move Ahead and Change Things
Let’s Move Ahead and Change Things