Member News: NAVIGATOR CO2, POET SIGN LETTER OF INTENT TO CAPTURE, TRANSPORT, AND STORE FIVE (5) MILLION TONS OF CO2 ANNUALLY

FOR IMMEDIATE RELEASE

Navigator to provide CCUS services for POET’s facilities in Iowa, Nebraska, and South Dakota

DALLAS, June 7, 2022 – Navigator CO2 Ventures LLC (“Navigator”) announced today that they have
signed a Letter of Intent to provide carbon capture, utilization, and storage (CCUS) services to POET,
the world’s largest producer of biofuel and a global leader in sustainable bioproducts, on Navigator’s
Heartland Greenway system.

The agreement outlines Navigator’s integrated CCUS services for approximately five (5) million metric
tons of POET’s biogenic CO2 annually and establishes a collaborative path for the development of a
central carbon offset marketplace and carbon use logistics platform. The system will phase in 18 of
POET’s bioprocessing facilities across Iowa, Nebraska, and South Dakota, and is on schedule for
operational in-service in 2025.

“We recognize that now is the time to take bold action to preserve our planet for future generations,”
said Jeff Broin, POET Founder and CEO. “POET has been a leader in low-carbon biofuels and CO2
capture for commercial use for decades, and this project is another significant step in utilizing
bioprocessing to accelerate our path to net-zero. We choose our partners carefully, and we believe
Navigator has the expertise to deliver long-term value to rural America by further positioning
agricultural commodities as a viable source of low-carbon liquid fuels to power our future.”

Both parties will leverage their respective expertise – relying on the unique breadth and scale of
Navigator’s infrastructure development, construction, and operations and POET’s market-leading
position in CO2 distribution, marketing, and logistics management. The joint efforts will create the
largest combined distribution network for high-quality, biogenic CO2.

“This agreement is a testament to two industries coming together and using their resources to pave
innovative pathways toward carbon neutrality and a more sustainable future. The breadth, scale, and
technical acumen of each party’s platform is unmatched,” said Matt Vining, Chief Executive Officer of
Navigator. “POET is an industry pioneer that has built a company on the pillars of safety, integrity,
innovation, and being a good neighbor in the communities they call home, all of which align entirely
with the culture and track record of Navigator. We look forward to this partnership with POET as we
continue to fulfill our mission to provide sustainable carbon solutions to our communities, consumers,
and customers.”

With the addition of POET to the platform, Navigator’s Heartland Greenway system will provide CCUS
services for more than 30 industrial processors across the agriculture and food production value
chains, representing over ten (10) million tons of annual CO2 emissions, including the two (2) largest
bioethanol producers in the United States, in addition to highly efficient single-site production
facilities. Navigator’s unique platform will now mobilize efforts to deliver up to 15 million tons annually
of CCUS services through new pipeline laterals and parallel development of multiple storage sites.

About Navigator CO2 Ventures
Navigator CO2 Ventures is a company developed and managed by the Navigator Energy
Services management team with over 180 years of collective industry experience. The company
specializes in CCUS, and the management team has safely constructed and operated over 1,300
miles of new infrastructure since being founded in 2012. We are committed to building and
operating our projects to meet and exceed safety requirements while minimizing the collective
impact on the environment, landowners, and the public during construction and ongoing operations.
For more information about Navigator CO2 and the Heartland Greenway, visit our websites at:
navigatorco2.com and heartlandgreenway.com.

About POET
POET’s vision is to create a world in sync with nature. As the world’s largest producer of biofuel and a
global leader in sustainable bioproducts, POET creates plant-based alternatives to fossil fuels that
unleash the regenerative power of agriculture and cultivate opportunities for America’s farm families.
Founded in 1987 and headquartered in Sioux Falls, POET operates 33 bioprocessing facilities across
eight states and employs more than 2,200 team members. With a suite of bioproducts that includes
Dakota Gold and NexPro feed, Voilà corn oil, purified alcohol, renewable CO2 and JIVE asphalt
rejuvenator, POET nurtures an unceasing commitment to innovation and advances powerful, practical
solutions to some of the world’s most pressing challenges. Today, POET holds more than 80 patents
worldwide and continues to break new ground in biotechnology, yielding ever-cleaner and more
efficient renewable energy. In 2021, POET released its inaugural Sustainability Report pledging carbon
neutrality by 2050.

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For more information, please contact:
Andrew Bates
515-201-5860
abates@fin-strategies.com
Erin Smith
605-370-4635
erin.smith@poet.com