Alto Ingredients, Inc. · NASDAQ:ALTO
Alto Ingredients — Q2 2026 Earnings Presentation
25 slides from Alto Ingredients's earnings presentation, Aug 5, 2026
Slide 1: Elevating Essential Products
Elevating Essential Products Leading producer of specialty alcohols and high-quality ingredients Q2 2026 INVESTOR PRESENTATION reported on August 5, 2026 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; fluctuations in the price include Alto Ingredients’ estimated or anticipated future results or other of and demand for oil and gasoline; raw material cos
Slide 3: Our mission is to produce the highest quality, sustainable ingredients
Our mission is to produce the highest quality, sustainable ingredients that make everyday products better 3
Slide 4: Diversified Revenue Portfolio Allows for Capture of Higher Value Opportunities
> Diversification strategy designed to shift DIVERSIFIED REVENUE production toward the most attractive end PORTFOLIO ALLOWS FOR markets CAPTURE OF HIGHER > Operating model positions Alto to generate VALUE OPPORTUNITIES positive adjusted EBITDA through commodity cycles while providing meaningful upsi
Slide 5: Diverse, Unique Plant Assets
Alto Columbia, LLC Dry Mill Alto Carbonic, LLC Alto Ingredients, Inc. Beverage-grade liquid CO2 processor Alto Pekin, LLC Boardman, Oregon Headquarters Dry Mill Wet Mill Yeast Plant Pekin, Illinois Diverse, Unique Plant Alto ICP, LLC Distillery Pekin, Illinois Assets Corporate Headquarters Alto Magi
Slide 6: Making Everyday Products Better
Making Everyday Products Better RENEWABLE ESSENTIAL INDUSTRY & FOOD & HEALTH, HOME FUELS INGREDIENTS AGRICULTURE BEVERAGE & BEAUTY 2025 Revenue %: 59% 22% 11% 6% 2% Transportation Alto Yeast® Industrial Grade Grain Neutral API Grade ALTO’S 100% Fuel: Ethanol Corn Meal, Oil, Germ Ethyl Alcohol Spirit
Slide 7: Quality Customer Base
Quality Customer Base RENEWABLE ESSENTIAL INDUSTRY & FOOD & HEALTH, HOME FUELS INGREDIENTS AGRICULTURE BEVERAGE & BEAUTY CUSTOMERS PRIORITIZE ALTO’S CERTIFICATIONS, RELIABILITY, SERVICE AND QUALITY 7
Slide 8: Consistent Profitability Over The Last Quarters
Consistent Profitability Over The Last 4 Quarters Gross Profit Operating Income Net Income (loss) Adjusted EBITDA 35,000 35,000 25,000 25,000 15,000 15,000 (in thousands) (in thousands) 5,000 5,000 -5,000 -5,000 -15,000 -15,000 -25,000 -25,000 -35,000 -35,000 -45,000 -45,000 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 9: Selected Financial Highlights
Selected Financial Highlights Gross Profit Improved $18.6M to $16.6M Q2 principal payment on long-term debt of $8.5M for total payments year-to-date of $25.1M UNAUDITED, $ IN MILLIONS Q2 2026 Q2 2025 NET SALES $245.7 $218.4 Segment Gross Profit GROSS PROFIT (LOSS) $16.6 $(1.9) 16,000 NET INCOME (LOS
Slide 10: Consolidated Statements of Operations
Consolidated Statements of Operations Three Months Ended June 30, (unaudited, in thousands, except per share amounts) 2026 2025 Net sales $ 245,698 $ 218,436 Cost of goods sold 229,062 220,373 Gross profit (loss) 16,636 (1,937) Selling, general and administrative expenses 8,017 6,171 Income (loss) f
Slide 11: Unlocking Value, Managing Liquidity, Enhancing Earnings
Unlocking Value, Managing Liquidity, Optimizing asset base and Enhancing Earnings executing efficiency initiatives Power Targeting premium and diversified markets with significant opportunities Expanding capital investments in high- return projects while maintaining disciplined cost management Lever
Slide 12: Appendix
APPENDIX 12
Slide 13: 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 14: Experienced Leadership Team
Experienced Leadership Team Bryon McGregor Todd Benton Rob Olander, CPA Jim Sneed Auste Graham, JD President & CEO Chief Operating Officer Chief Financial Officer Chief Commercial Officer Chief Legal Officer & Secretary 18 years with Alto 27 years with Alto(1) 19 years with Alto 34 years with Alto(1
Slide 15: 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 14 years with Alto 26 years with Alto(1) & Sustainability 19 years with Alto 19 years with Alto 13
Slide 16: Certifications Create Differentiation
Certifications Create Differentiation Deepen Relationships and Open Doors to New Customers Are more challenging to produce Require audits, equipment and testing validation, and other prerequisite programs Create significant product performance impact for a fraction of their cost 16
Slide 17: Best-in-Class Sustainability Program
Best-in-Class Sustainability Program EARNED AT PEKIN CAMPUS FACILITIES > Safe Food/Safe Feed - a third-party product safety certification A white circle with black text and a black background AI-generated content may be incorrect. > EcoVadis Silver Medal at ICP, 87th percentile among peers1 > EcoVad
Slide 18: Regulatory Trends Positive for Industry
Increasing the Intrinsic Value of Regulatory Trends > Alto’s Facilities Positive for Industry CI Score/ Recorded Emission $3.9M of net 45Z credit earnings Perfor ($0.20/gallon) Annual Q1 2026 Emission Rate Range Factor Gallon Benefit > Expect to generate $15M ($0.20/gallon) in net proceeds from 45Z
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet June 30, December 31, (unaudited, in thousands) 2026 2025 Current Assets: Cash and cash equivalents $ 23,962 $ 23,415 Restricted cash — 2,258 Accounts receivable, net 67,889 55,069 Inventories 51,609 61,676 Transferable tax credits, net 8,265 7,500 Derivative instruments 4
Slide 20: Consolidated Balance Sheet (continued)
Consolidated Balance Sheet (continued) LIABILITIES AND STOCKHOLDERS’ EQUITY June 30, December 31, (unaudited, in thousands) 2026 2025 Current Liabilities: Accounts payable $ 24,219 $ 14,509 Accrued liabilities 16,424 16,691 Current portion – long-term debt — 16,600 Current portion – operating leases
Slide 21: Segment Results
Segment Results Three Months Ended June 30, (unaudited, in thousands) 2026 2025 Net Sales Total Pekin Campus sales $ 159,670 $ 133,903 Total marketing and distribution sales 57,184 60,520 Total Western production sales 30,090 25,359 Corporate and other 1,944 1,676 Intersegment eliminations (3,190) (
Slide 22: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION 22
Slide 23: Use of Non-GAAP Measures
Use of Non-GAAP Measures Management believes that certain financial measures not in accordance with provides this non-GAAP measure so that investors will have the same generally accepted accounting principles (“GAAP”) are useful measures of financial information that management uses, which may assis
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended June 30, (in thousands) (unaudited) 2026 2025 Net income (loss) $ 11,701 $ (10,997) Adjustments: Interest expense 1,960 2,811 Interest income (87) (67) Unrealized derivative losses (gains) 3,634 2,117 Acquisition-related income — (460) Depreciation a
Slide 25: For More Information, Contact
FOR MORE INFOMATION, CONTACT: info@altoingredients.com (833) 710-ALTO ir.altoingredients.com linkedin.com/company/alto-ingredients 25