Renewable Diesel Market Value Proposition

$8.00 $6.00 $4.00 $2.00 $(2.00) $(4.00) $(6.00) $(8.00) ROBUST TO RECENT EVENTS Jan-17 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Aug-18 Daily Gross Margin Index ($/gal) Nov-18 Feb-19 May-19 Aug-19 Nov-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 LA Carb Diesel 1.7 x D4 RIN BTC Real Time LCFS Crude SBO RD Crude SBO Margin Source: Bloomberg, Jacobsen Ukraine Crisis and Palm Oil Crisis did not impact stable RD margins $- $8.00 $6.00 $4.00 $2.00 $(2.00) $(4.00) $(6.00) $(8.00) Jan-22 Feb-22 Mar-22 Apr-22 Through April 25 14

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