1. © 2015 ICM - All Rights Reserved. Perspectives on Feedstock Supply and Strategy June 9, 2015 Douglas B. Rivers, Ph.D. Director, Research & Development ICM, Inc. – St. Joseph, MO Direct Line: 316.977.8502

2. © 2015 ICM - All Rights Reserved. 2 Feedstock Supply Essentials ›Quality ›Quantity ›Reliability

3. © 2015 ICM - All Rights Reserved. 3 Feedstock Characteristics ›Yield is King (tons/acre) ›High carbohydrate content (gallons/ton) High digestibility Lignin/Ash Content ›Friability Does it mill easily Does it facilitate water/chemical incorporation ›Consistent feedstock Land type, harvesting practices, farmer acceptance

4. © 2015 ICM - All Rights Reserved. 4 Energy Crop Yields ›8 - 20 tons per acre ›1,200-lb. bale = 48 gallons of ethanol @ 80 gallons per ton ›Goal 100 gallons per ton of biomass

5. © 2015 ICM - All Rights Reserved. 5 Energy Crop Feedstocks ›Switchgrass ›Energy Sorghum ›Miscanthus ›Hybrid Poplar ›Hybrid Willow ›Selection Driven by Geography Climate Water Availability

6. © 2015 ICM - All Rights Reserved. 6 Harvest Strategy: Feedstock Never Hits the Ground

7. © 2015 ICM - All Rights Reserved. 7 Quantity: 1 Billion Ton Study

8. © 2015 ICM - All Rights Reserved. 8 What is the availability?

9. © 2015 ICM - All Rights Reserved. 9 Generation 2.0: Co-Located Design

10. © 2015 ICM - All Rights Reserved. 10 Specific Site Availability – Webster County, IA

11. © 2015 ICM - All Rights Reserved. 11 Why Webster County, IA ? Corn Plants – Corn Stover

12. © 2015 ICM - All Rights Reserved. 12 ›Snow ›Hail ›Lack of Rain What about the Weather?

13. © 2015 ICM - All Rights Reserved. 13 It May Not Rain Enough, But I Have Irrigation

14. © 2015 ICM - All Rights Reserved. 14 It isn’t just California

15. © 2015 ICM - All Rights Reserved. 15 What is a Workable Feedstock Strategy? ›Crop Residues Corn Stover Milo Stover Wheat Straw Annual ›Switchgrass Perennial ›Energy Sorghum Annual ›Campaigns

16. © 2015 ICM - All Rights Reserved. 16 ›Does This Strategy Guarantee Success? ›No ›But It Mitigates Feedstock Supply Risk To Operations To Lenders To Shareholders So, What’s the Punch Line?

17. © 2015 ICM - All Rights Reserved. 17 ICM R&D Team © 2015 ICM, Inc. All Rights Reserved.

18. © 2015 ICM - All Rights Reserved. 18 Thank You! Visit our 20th Anniversary website: www.icm20years.com Visit our Corporate website: www.icminc.com Follow us on Twitter: @ICM Technology #icm20years Follow us on Linked In: www.linkedin.com/company/icm-inc_2 Download the ICMNOW App: www.icmmobileapp.com View our videos on YouTube: https://www.youtube.com/user/icmglobal Douglas B. Rivers, Ph. D. Director, Research & Development ICM – St. Joseph, Missouri Phone: 316.977.8502 Email: douglas.rivers@icminc.com