REX American Resources (REX) Investor presentation summary

Company overview and strategy

• Publicly traded for 40 years, focused on ethanol production from six Midwest facilities, with no bank debt and a strong balance sheet.

• Expansion at One Earth Energy aims to increase capacity from 150 to 200 million gallons per year, supporting earnings growth.

• Developing carbon capture and sequestration (CCS) to reduce ethanol's carbon intensity and access tax credits.

• Recognized for efficient, profitable operations and consistent shareholder value growth.

Financial performance and position

• FY 2025 net sales reached $650.5 million, with $93.7 million gross profit and $2.50 diluted EPS.

• Cash, cash equivalents, and short-term investments totaled $375.8 million as of January 31, 2026.

• Working capital stood at $372.5 million, with no bank debt and a history of profitability.

• 22 consecutive profitable quarters, with Q4 2025 net income boosted by $28.1 million in 45Z tax credits.

• Strong cash and working capital maintained despite $68.4 million in capital spending and $32.9 million in stock buybacks in 2025.

Ethanol production and operations

• Holds interests in six ethanol facilities across four states, with total annual production capacity of 730 million gallons; REX controls about 300 million gallons.

• Consolidated facilities in South Dakota and Illinois each have 150 million gallon capacity; Illinois facility expansion underway.

• Non-consolidated plants contribute 13% of total ethanol ownership.

• FY 2025 ethanol sales totaled 290 million gallons at an average price of $1.741 per gallon.

• Facilities also produce distiller grains and corn oil as co-products.