Green Plains : BMO Global Farm to Market Conference

BMO Capital Markets Farm to Market Conference

May 19-20, 2021

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 uncertainties. Green Plains has provided additional information about such risks and uncertainties that could cause actual results to differ materially from those expressed or implied in its reports filed with the Securities and Exchange Commission.

Forward-looking statements are made in accordance with safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations which involve a number of risks and uncertainties and do not relate strictly to historical or current facts, but rather to plans and objectives for future operations. These statements include words such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "outlook," "plan," "predict," "may," "could," "should," "will" and similar words and phrases as well as statements regarding future operating or financial performance or guidance, business strategy, environment, key trends and benefits of actual or planned acquisitions.

Factors that could cause actual results to differ from those expressed or implied are discussed in this report under "Risk Factors" or incorporated by reference. Specifically, we may experience fluctuations in future operating results due to a number of economic conditions, including: disruption caused by health epidemics, such as the COVID- 19 outbreak; competition in the ethanol industry and other industries in which we operate; commodity market risks, including those that may result from weather conditions; financial market risks; counterparty risks; risks associated with changes to government policy or regulation, including changes to tax laws; risks related to acquisitions and disposition activities and achieving anticipated results; risks associated with merchant trading; risks related to our equity method investees and other factors detailed in reports filed with the SEC.

We believe our expectations regarding future events are based on reasonable assumptions; however, these assumptions may not be accurate or account for all risks and uncertainties. Consequently, forward-looking statements are not guaranteed. Actual results may vary materially from those expressed or implied in our forward-looking statements. In addition, we are not obligated and do not intend to update our forward-looking statements as a result of new information unless it is required by applicable securities laws. We caution investors not to place undue reliance on forward-looking statements, which represent management's views as of the date of this report or documents incorporated by reference.

This presentation also includes estimated projections of future operating results. This information is not fact and should not be relied upon as being necessarily indicative of future results; the projections were prepared in good faith by management and are based on numerous assumptions that may prove to be wrong. Important factors that may affect actual results and cause the projections to not be achieved include, but are not limited to, risks and uncertainties relating to the company and other factors described under "Risk Factors" sections of the Company's Annual Report on Form 10-K . Actual results may differ materially from those contained in the estimates. Accordingly, there can be no assurance that the estimates will be realized.

Neither the SEC nor any other regulatory body has passed upon the accuracy or adequacy of this presentation. Any representation to the contrary is a criminal offense. Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of the company after the date hereof.

Certain of the information contained herein may be derived from information provided by industry sources. While the company believes that such information is accurate and that the sources from which it has been obtained are reliable, it has not independently verified data from these third-party sources.

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Our Transformation is Underway . . .

• Green Plains (GPRE) is transforming from traditional ethanol into a sustainable biorefinery platform, innovating through ag technology to produce higher-value products with stable cash flows, for tomorrow's sustainable economy
• Investments in critical technology, infrastructure and strategic partnerships are driving progress to accelerate the transformation into the Biorefinery Platform of the Future
• Our transition into highly specialized production aims to meet the world's demand for sustainably sourced products, low carbon ingredients and cleaner technologies
• GPRE is a $1.3 billion1 market capitalization and $1.8 billion1 enterprise value company transforming agriculture and energy supply chains

Green Plains 1.0

Green Plains 2.0 - Biorefinery Platform

Transformation

Ethanol

DDGS

Ultra-High

Corn Oil +

Ethanol

Protein

Strategic Partnerships

Dextrose

OR

Corn Oil

MSC™ Technology

DDGS

Carbon

Specialty

Creates Ultra-High Protein

Capture

Alcohol

and enhances Corn Oil

yields

Clean Sugar

Technology™

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1 Source: Bloomberg as of 5/18/2021

Begin Clean Sugar production at York Innovation Center

Announce general contractor to accelerate protein construction

… to a Sustainable Future

Tracking our Transformation Through Milestones

Milestones Completed

• Partner with Novozymes in protein production
• Ultra-HighProtein production begins at Shenandoah biorefinery
• Complete $75 million loan facility
• Breaks ground at second high protein project at Wood River biorefinery
• Sell Cattle for $80 million
• Form exclusive partnership with Hayashikane
• Complete sale of Hereford and Ord plants
• Acquire majority stake in Fluid Quip Technologies with Ospraie and BlackRock
• Completes York USP Upgrade
• Announce Clean Sugar project at York Innovation Center
• Partner with funds and accounts managed by BlackRock to provide financing to fund transformation plan
• Announce carbon sequestration partnership with Summit Carbon Solutions
• Complete concurrent offerings of common stock and convertible senior notes due 2027 (Fully funded)

Future Milestones





 Announce construction sequence and begin MSC rollout across platform

 Begin Ultra-High Protein production at Wood River, further developing recurring earnings and cash flow

 Complete Project 24, reducing costs and carbon footprint

 Complete GNS upgrade at York and USP upgrade at Wood River

 Commercial agreements for 58%+ Protein, moving up "J-curve" for margins

 Achieve 60%+ Ultra-High Protein production

 Commercialize MSC protein technology to third-party plants

 Select and begin conversion to Clean Sugar Technology, first "Biorefinery Platform of the Future"

 Develop new innovations in proteins, yeasts, oils, aquafeed, and clean sugar

 Develop strategic partnerships aligning with Green Plains 2.0  Begin carbon sequestration pipeline construction

 Begin sequestering carbon, reducing CI of biorefinery platform

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We Have Created a Powerful Ag Tech Platform

Acquisition and partnerships accelerate technology deployment

• The company owns significant intellectual property and is one of the only commercially proven sustainable ultra-high protein technologies for dry mill production facilities
• Successful operational track record: proven deployment of technologies with notable existing engagements has led to consistent growth
• Enables Green Plains to accelerate their transformation and allows the Company to focus on higher value proteins and clean sugars
• Supported by a wide patent portfolio with more patents pending

MSC™		CST™		Flex Plant™		BOS™

Maximized Stillage	Clean Sugar	Flex Plant	Brix Oil Separation
Co-Products™	Technology™	Technology™	System™

• The partnership forms a powerful ag tech alliance to focus on innovation, value-added opportunities and sustainability
• Drives acceleration of transformation through access to new strategic partnerships and customers on a global scale
• Leverages Green Plains' scope and scale to create value-added opportunities in key ingredients, redefining investment in biorefining industry world-wide
• Provides further validation of Green Plains' strategy and helps to accelerate sustainable ultra-high protein and clean sugar technology deployment

Fluid Quip's technology portfolio facilitates Green Plains' transformation with many future possibilities	5