Renewable Diesel Market Value Proposition

VII CI AND FEEDSTOCK OPTIMIZATION FOR LCFS CREDIT Carbon Intensity (CI) penetration rate varies across the political geographies Cl Reduction Projections Year California Oregon BC Washington Canada Ex-BC 2020 7.50% 2.5% 10% 2021 8.75% 3.5% 11% 2022 10.00% 5.0% 12% 2023 11.25% 6.5% 13% 0.5% 3.9% 2024 12.50% 8.0% 14% 1.0% 5.2% 2025 13.75% 10.0% 15% 2.0% 6.5% • Cl reduction depends on feedstock; a 10% CI reduction requires 12-21% renewable diesel Renewable diesel feedstock Soy oil Canola Distillers Cooking oil Tallow corn oil (used) CI Score (Calif LCFS) 52.7 48.0 28.7 23.0 R.D percent in pool @ 10% Cl reduction 21% 19% 14% 13% 16.5 12% 41

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