On January 31, 2023, Ancora Advisors, LLC issued a press release and sent an open letter to Green Plains Inc.'s Board of Directors detailing Ancora Advisors' view that the Board should commence a review of value-maximizing strategic alternatives. In the press release, Ancora Advisors acknowledge the significant governance and operational enhancements implemented by the Board over the past 2 years which have increased the Company's value and made it a highly attractive business for strategic acquirers in the agricultural products and energy sectors. Ancora Advisors stated that the letter also details certain long-term risks facing the Company that have developed which are likely to create a particularly challenging environment for the Company as a standalone Company.

Accordingly, Ancora Advisors expressed its view that the Board should commence a robust strategic review process in an effort to maximize value for all shareholders.