Slide 1: First Quarter 2023 Business Update
First Quarter 2023 Business Update May 4, 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: First Quarter 2023 Results
First Quarter 2023 Results Results of Operations • EPS of ($1.20) per basic and diluted share • EBITDA of ($27.7) million • Cash and cash equivalents, and restricted cash of $408.3 million and $159.0 million available under a committed credit facility Production Segment • Processed 71.2 million bush
Slide 5: Business Activity & Updates
Business Activity & Updates • Protein technology operating at five facilities achieving record daily production rates in recent weeks • Averaged 900 tons per day of Ultra-High Protein production for 21 days, hitting targeted volume • Construction of MSC™ at turnkey solution partner Tharaldson Ethano
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands) For the three months ended March 31, 2023 2022 Ethanol production Ethanol sold (gallons) 206,880 196,348 Distillers grains sold (equivalent dried tons) 482 504 Ultra-High Protein sold (tons) 52 12 Renewable corn oil sold (pounds) 68,011 59,295
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended March 31, 2023 2022 2023 2022 (in millions) (per gallon produced) Ethanol production Operating loss (1) $ (53.4) $ (51.1) $ (0.26) $ (0.26) Depreciation and amortization 23.0 18.4 0.11 0.10 Total adjusted ethanol production $ (30
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended March 31, 2023 2022 Revenues $ 832.9 $ 781.4 Costs and expenses 889.4 829.3 Operating loss $ (56.5) $ (47.9) Other expense (6.4) (8.3) Income tax benefit (expense) (3.4) 1.1 I
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Mar. 31, 2023 Dec. 31, 2022 Cash and cash equivalents, and restricted cash $ 408.3 $ 500.3 Working capital $ 181.3 $ 101.8 Working capital financing (1) (212.7) (137.7) Working capital, net $ (3
Slide 10: Green Plains Partners LP
Green Plains Partners LP Green Plains
Slide 11: Selected Operating Data - Green Plains Partners LP
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended March 31, 2023 2022 Product volumes Storage and throughput services 208.1 197.2 Terminal services 50.9 48.8 Railcar capacity billed (daily average) 72.7 69.7 11
Slide 12: Condensed Consolidated Balance Sheet - Green Plains Partners LP
Condensed Consolidated Balance Sheet Green Plains Partners LP (in millions) For the period ending Mar. 31, 2023 Dec. 31, 2022 Assets Current assets $ 37.9 $ 34.6 Property and equipment, net 26.6 26.1 Operating lease right-of-use assets 59.5 47.0 Other assets 13.8 13.7 Total assets $ 137.8 $ 121.4 Li
Slide 13: Condensed Consolidated Income Statement - Green Plains Partners LP
Condensed Consolidated Income Statement Green Plains Partners LP (in millions, except per unit amounts) For the three months ended March 31, 2023 2022 Revenues $ 20.8 $ 19.1 Operating expenses 9.3 7.6 Operating income $ 11.5 $ 11.5 Interest expense, net (1.8) (1.2) Income tax benefit 0.1 — Income fr
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions, except ratios) Three Months Ended LTM March 31, March 31, 2023 2022 2023 Net income $ 9.9 $ 10.4 $ 40.2 Interest expense, net 1.8 1.2 6.5 Income tax expense (0.1) — (0.1) Depreciation and amortization 0.8 0.9 4.0 Unit-based compensation
Slide 15: Appendix
Appendix os . B= Green Plains 15
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended March 31, 2023 2022 Net loss $ (66.2) $ (55.9) Interest expense 9.7 8.8 Income tax expense (benefit) 3.4 (1.1) Depreciation and amortization (1) 25.4 20.4 EBITDA and Adjusted EBITDA $ (27.7) $ (27.8) (1) Excludes amor