Advanced Biofuels Leadership Conference April 2011 Matt Horton, CEO

Industry at a Crossroads 10% Blend wall is upon us Ethanol reached 9.6% of gasoline supply Currently exporting ethanol to Brazil RFS2 implications if we don’t make progress 3 Potential solutions: E15 Drop-in fuels High-blend infrastructure 2

There is a Path Forward, But… 3 Future Past ≠

Change #1 - Customers

Change #2 - Products MAY CONTAIN UP TO 10% ETHANOL

Change #3 - Geography Midwestern states have traditionally influenced policy Advanced Biofuels community represents new voice, with new representation in Congress Work with conventional biofuels supporters to expand market access – infrastructure and vehicles Best opportunities are outside of the Midwest 7

FFV Concentrations in US 8

60% of Stations 20% of FFVs 3% of Stations 17% of FFVs 10% of Stations 16% of FFVs Infrastructure Mismatch 4% of Stations 13% of FFVs 6% of Stations 7% of FFVs 6% of Stations 5% of FFVs 10% of Stations 18% of FFVs 9 MN <500 FFVs/E85 station USA 1,500 cars/gas station 3,600 FFVs/E85 station CA 7,600 FFVs/E85 station

Fueling Change…

Propel’s Mission Build the leading clean fuel brand by building the largest retail network of renewable fuel stations 11

With a New Retail Model Partner with station owners Build, own, and operate Centrally manage network Focus on renewable fuels Largest network in West Currently developing 75 stations in CA w/DOE, CEC A New Kind of Fuel Company 12

Key #1 – Engage Consumers Target the right consumers and fleets Actively reach out to educate customers Use a clean, attractive, professional image Create a familiar, easy transaction Give great customer service Instill confidence with a product warranty Be visible publicly, in PR and with locations 13

Key #2 - Right Products Keep the customer in mind Focus on vehicle platforms Find the right blend level and price point

Select the very best real estate Clusters, not corridors Focus on critical mass Develop a network Key #3 - Convenience 15

Matt Horton, CEO Phone: