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2016 MLP Investor Conference – Green Plains Inc.

Green Plains Inc. · Jun 2, 2016 · 30 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2016 MLP Investor Conference – Green Plains Inc. – slide 1
    Green Plains Partners LP 2016 MLPA Investor Conference June 2, 2016
  2. 2016 MLP Investor Conference – Green Plains Inc. – slide 2
    Partnership Overview
  3. 2016 MLP Investor Conference – Green Plains Inc. – slide 3
    Green Plains Partners LP Formed in 2015 by Green Plains Inc. to provide fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and…
  4. 2016 MLP Investor Conference – Green Plains Inc. – slide 4
    Partnership Assets Ethanol Storage Facilities Strategically located near FAIRMONT 30 ethanol storage facilities ATKINSON SUPERIOR LAKOTA major rail lines in nine U.S. states enabling transportation to diverse located at or…
  5. 2016 MLP Investor Conference – Green Plains Inc. – slide 5
    Our Parent Green Plains Inc. Formed in 2004 as an ethanol producer with strategically located, operationally efficient production assets Growth through acquisition of vertically integrated commodity-processing businesses Third…
  6. 2016 MLP Investor Conference – Green Plains Inc. – slide 6
    Operating Segments Green Plains Inc. 56 mmbu of grain storage capacity 70,000-head capacity cattle feedlot with 2.8 mmbu of feed storage Upstream Agribusiness 14 dry-mill ethanol plants in 8 states, all with export spec…
  7. 2016 MLP Investor Conference – Green Plains Inc. – slide 7
    Stable, Fee-Based Cash Flows Our Relationship with Green Plains Inc. Green Plains is a 62.5% owner and general partner of the partnership; public owns remaining 35.5% Long-term, fee-based commercial agreements with our parent and…
  8. 2016 MLP Investor Conference – Green Plains Inc. – slide 8
    Liquidity & Capital Structure Green Plains Inc. (in millions) 2011 2012 2013 2014 2015 Q1-2016 Production Capacity (mmgy) 740 740 1,020 1,020 1,055 1,215 EBITDA (1) 148.6 115.5 156.6 350.7 127.8 102.3 Interest Expense(1) 36.6 37.5…
  9. 2016 MLP Investor Conference – Green Plains Inc. – slide 9
    Ethanol Industry Overview
  10. 2016 MLP Investor Conference – Green Plains Inc. – slide 10
    Domestic Ethanol Landscape U.S. is the worlds largest producer of ethanol 216 ethanol plants in the U.S. capable of producing 15.7 bgy of ethanol Domestic ethanol industry produced 14.8 billion gallons in 2015 13.9 billion gallons…
  11. 2016 MLP Investor Conference – Green Plains Inc. – slide 11
    Domestic Ethanol Supply & Demand Industry Fundamentals (thousand barrels) (days) 26,000 29 24,000 27 22,000 25 20,000 23 18,000 21 16,000 19 14,000 17 12,000 15 May-11 Aug-11 Nov-11 Feb-12 May-12 Aug-12…
  12. 2016 MLP Investor Conference – Green Plains Inc. – slide 12
    Margins in the Current Environment Industry Fundamentals (thousand barrels) ( per gallon) 24,500 1.50 1.25 22,500 1.00 0.75 20,500 0.50 18,500 0.25 0.00 16,500 -0.25 14,500 -0.50 Jun-10 Sep-10 Dec-10 Mar-11…
  13. 2016 MLP Investor Conference – Green Plains Inc. – slide 13
    Domestic Gasoline Demand Ethanol Industry Drivers (million barrels per day) 10.5 10.0 9.5 9.0 8.5 5-year range 2015 2016 8.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec U.S. weekly implied gasoline…
  14. 2016 MLP Investor Conference – Green Plains Inc. – slide 14
    Higher Ethanol Blends Ethanol Industry Drivers 2016 National Ethanol Conference participants are U.S. Retail Stations Offering E15 projecting blend volumes will increase 244 65 mmgy in 2016, additional 120 mmgy in 2017 182…
  15. 2016 MLP Investor Conference – Green Plains Inc. – slide 15
    Export Demand is Growing Ethanol Industry Drivers Basics Global Ethanol Supply and Demand Forecast (bgy) 36 Global production was 25.6 billion gallons in 2015 34 Demand surpasses Global demand has been growing by 2-3% annually…
  16. 2016 MLP Investor Conference – Green Plains Inc. – slide 16
    Export Demand is Growing Ethanol Industry Drivers Why US Ethanol Ethanol Export Mix: Mar 2016 YTD 250 mmg of U.S. ethanol exported in Q1-2016 Rest of world 21% China 30% 80% went to five countries in Q1-2016 India 5% U.S.…
  17. 2016 MLP Investor Conference – Green Plains Inc. – slide 17
    Demand for Co-Products Ethanol Industry Drivers World protein demand is projected to increase Price of Soybean Meal (mt) demand for animal feed 4% 380 360 25% U.S. distillers grains exported in 2015 340 2.4 million metric…
  18. 2016 MLP Investor Conference – Green Plains Inc. – slide 18
    Focused on Growth
  19. 2016 MLP Investor Conference – Green Plains Inc. – slide 19
    Production Rate Impact on the Bottom Line Power of the Platform Parent production capacity of 1.2 bgy Utilization rate Q1-16 90% 95% Storage and throughput volume per quarter (91 days) 247 mmgy 273 mmgy 288 mmgy Storage and…
  20. 2016 MLP Investor Conference – Green Plains Inc. – slide 20
    Interests are Aligned with our Parent Power of the Platform Growth Operational Excellence Ownership & Management Expand downstream logistics Operate assets with minimal Align interest with unitholders activities downtime and…
  21. 2016 MLP Investor Conference – Green Plains Inc. – slide 21
    Multiple Avenues for Growth Power of the Platform Production growth by our parent Expand existing production capacity; capability to increase 50 mmgy Acquire production assets Partnership has five-year right of first offer on…
  22. 2016 MLP Investor Conference – Green Plains Inc. – slide 22
    Power of the Platform Ethanol industry fundamentals are improving since first quarter 2016 Parent has ample liquidity and is well-positioned for growth Partnership structure conducive for growth Low maintenance capital and…
  23. 2016 MLP Investor Conference – Green Plains Inc. – slide 23
    Green Plains Inc. NASDAQ: GPRE www.gpreinc.com Green Plains Partners LP NASDAQ: GPP www.greenplainspartners.com
  24. 2016 MLP Investor Conference – Green Plains Inc. – slide 24
    Appendix
  25. 2016 MLP Investor Conference – Green Plains Inc. – slide 25
    Selected Operating Data Green Plains Partners LP For the three months ended Mar. 31, 2016 Dec. 31, 2015 Storage and throughput services (mmg)(1) 247.0 248.8 Terminal services: Affiliate 28.7 25.4 Non-affiliate 44.2 51.7 72.9…
  26. 2016 MLP Investor Conference – Green Plains Inc. – slide 26
    Adjusted EBITDA and DCF Green Plains Partners LP (in millions) For the three months ended Mar. 31, 2016 Dec. 31, 2015 Net income 12.2 12.1 Interest expense 0.3 0.2 Income tax expense 0.2 Depreciation and amortization 1.2 1.4…
  27. 2016 MLP Investor Conference – Green Plains Inc. – slide 27
    Condensed Balance Sheet Green Plains Partners LP (in millions) Assets Mar. 31, 2016 Dec. 31, 2015(1) Current assets 20.0 33.9 Property and equipment, net 41.4 41.9 Other assets 19.8 20.0 Total assets 81.2 95.8 Liabilities and…
  28. 2016 MLP Investor Conference – Green Plains Inc. – slide 28
    Consolidated Income Statement Green Plains Partners LP (in million gallons, except per unit amounts) For the three months ended Mar. 31, 2016 Dec. 31, 2015 Revenues 23.8 22.7 Operating expenses 11.1 10.4 Operating income 12.7…
  29. 2016 MLP Investor Conference – Green Plains Inc. – slide 29
    Drop Down Valuation Hopewell and Hereford Storage & Transportation Assets Green Plains Partners LP (partnership) Throughput gallons (millions) 160 Rate per gallon 0.05 Projected EBITDA (millions) 8.0 throughput gallons X rate per…
  30. 2016 MLP Investor Conference – Green Plains Inc. – slide 30
    Ethanol Spread to RBOB Ethanol Industry Drivers Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 RBOB 1.62 1.63 1.62 1.60 1.47 1.43 Ethanol 1.64 1.64 1.62 1.60 1.58 1.55 Ethanol Price vs. RBOB 0.02 0.01 (0.00) (0.00) 0.11 0.12 Dec-16…

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