Vertex Energy : Investor Marketing Presentation

First Quarter 2021 Results Conference Call

May 2021

Disclaimer

This document may contain forward-looking statements including words such as "may," "can," "could," "should," "predict," "aim," "potential," "continue," "opportunity," "intend," "goal," "estimate," "expect," "expectations," "project," "projections," "plans," "anticipates," "believe," "think," "confident," "scheduled," or similar expressions, as well as information about management's view of Vertex Energy's future expectations, plans and prospects, within the safe harbor provisions under the Private Securities Litigation Reform Act of

1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove

incorrect, Vertex Energy's business, plans, prospects, financial condition, liquidity, cash flows, projections and results could differ materially from those expressed in any forward-looking statement. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. New risks and uncertainties arise over time, and it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. These risk factors and others are included from

time to time in documents Vertex Energy files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks, available at the SEC's website at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy's future results. Except as required by

law, Vertex Energy expressly disclaims any obligation or undertaking to update any forward-looking statements to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based. The forward-looking statements included in this presentation are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these

forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this presentation, except as required by law, and also undertakes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.

Industry Information

Information regarding market and industry statistics contained in this presentation is based on information available to us that we believe is accurate. It is generally based on publications that are not produced for investment or economic analysis.

Use of Non-GAAP Financial Information

This presentation discusses "EBITDA", "Adjusted EBITDA" and free cash flow. EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before stock-based compensation expense and gain (loss) on change in value of derivative warrant liability and unrealized gains and losses on

derivative instruments for hedging activities. Free cash flow represents net cash provided by (used in) operating activities, less capital expenditures. These measurements have not been audited, are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance. EBITDA, Adjusted EBITDA and free cash flow are presented because we believe they provide additional useful information to investors due to the various

noncash items during the period. EBITDA, Adjusted EBITDA and free cash flows have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP. The Company's presentation of these measures should not be construed as an inference that future

results will be unaffected by unusual or nonrecurring items. See also "Non-GAAPReconciliation-Reconciliation of Net Loss attributable to Vertex Energy, Inc., to EBITDA, Adjusted EBITDA and Free Cash Flow", in the Appendix, below.

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Business Update

Executive Summary

1Q21 performance and 2Q21 outlook

1Q21 Performance		Strategic Initiatives
Key Performance Indicators		Progress Update

Management Outlook

2Q21 Guidance

Strong financial performance Generated y/y growth in net income and

adjusted EBITDA supported by improved refined product margins, higher base oil prices, increased used motor oil (UMO)

collections, reduced collections expense and strong operational reliability

Exceptional operational reliability Total throughputs at the Marrero refinery

increased on both a sequential and year- over-year basis in the first quarter;

Heartland refinery operated at peak capacity during the first quarter, given higher selling prices on Group II+ base oil.

Solid collections growth. Total UMO collections increased 17% on a year-over-year basis to 10.4 million gallons, exceeding pre-pandemiclevels

Low-carbon energy transition focus Actively evaluating organic and inorganic

growth opportunities that position us to support the global transition toward low- carbon solutions

Myrtle Grove oil reclamation project Myrtle Grove has begun to receive distressed hydrocarbon streams that will be pretreated and reclaimed as feedstock for

sale into third-party industrial markets and at the Marrero refinery

Myrtle Grove renewable diesel project This project is under evaluation, as we

continue to consider the construction of a pre-treatment facility capable of sourcing

and stabilizing non-conforming organic oils used in the production of renewable diesel fuel

Base oil prices at elevated levels

Group II posted prices have increased more than 15% on a y/y through the end of April; expect prices to remain elevated, benefiting the Heartland refinery

Planned turnarounds in 2Q21 Anticipate 10 and 3 days of planned maintenance, respectively, at Marrero and Heartland during the second quarter 2021

2Q21 financial outlook

Anticipate total Adjusted EBITDA in the range of $2.5 million to $3.0 million, including impact of planned maintenance

Full-year 2021 financial outlook Anticipate positive free cash flow, net income and Adjusted EBITDA

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Adjusted EBITDA Performance Bridge

1Q21 benefited from improved refining margins, higher sales volumes and continued cost discipline

1Q20 vs. 1Q21 Adjusted EBITDA Bridge

($MM)

$4.2

• Adjusted EBITDA improved more than 4x on a y/y basis in 1Q21
• Improved refining margins; 11% y/y improvement in WTI-HSFO spread in 1Q21; significant base oil price escalation
• Improved demand for refined products, as commercial activity accelerates
• Continued progress within Metals business; +$1.0 million y/y improvement
• Business development, new division costs and Myrtle Grove start-up offset areas of improvement

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