On January 17, 2022, Ancora Advisors, LLC delivered a letter to Green Plains Inc.'s Board of Directors. In the letter, Ancora Advisors recognized the dialogue it has had with management and the Board since the filing of the initial Schedule 13D in August 2021 and noted that it has been encouraged by the Company's recent efforts to enhance its corporate governance and refresh its Board. Ancora Advisors expressed its view that the recent changes, many of which were reactionary, as a step in the right direction, it has stated in the letter that there is still room for further improvement.

Ancora Advisors also expressed disappointment that the Board has been unwilling to work with them to appoint a shareholder representative who possesses relevant and technical experience to the Board.