September 2022 With the fall shutdown completed Sept. 12-14, Dakota Ethanol is prepared for the winter months, and construction on the expansion project is moving well. The new fermenter is in service, with the ethanol storage tank having recently been completed and nearly ready to be filled. Crews are cur- rently building the sidewalls for the new grain bin, which should be completed in October. Financial: On Sept. 6, 2022, the board of directors of Lake Area Corn Processors LLC declared a cash dis- tribution of $0.20 per membership unit to unit holders of record at the close of busi- ness on July 1, 2022. The total distribution is $5,924,000. Production at Dakota Ethanol remains steady and comparable with pro- duction exceeding 44 million gallons for the first two quarters of both years. 2022 has seen higher prices for ethanol, distillers grains and corn oil. However, the increased revenues were offset by increases in the corn and natural gas cost, leaving net income for the six months ended 6/30/2022 lower than the six months ended 6/30/2021. Unit trading Capital unit trading activity was light during the third quarter 2022, although the value was higher. The 296,500 units traded in the past year represent 1 percent of the total units outstanding. PO Box 100 Wentworth, SD 57075 605-483-2676 (corn) 888-539-2676 (corn) www.dakotaethanol.com Office hours: 8:00 a.m. to 5:00 p.m. (M-F) Receiving/shipping hours: 7:30 a.m. to 4:30 p.m. (M-F) Investor Relations email: investor-relations@dakotaethanol.com Contact information Do we have your current address and phone number? Have you moved? No longer have a home phone? Is your cell phone your only phone number? What is your email address? Call or send an email to investor-relations@dakotaethanol. com with your current contact information. This newsletter contains forward-looking statements. We undertake no respon- sibility to update any forward-looking statement. When used, the words “be- lieve”, “expect”, “will”, “can”, “estimate”, “anticipate” and similar expressions are intended to identify forward-looking statements. Readers should not place undue reliance on any forward-looking statements and recognize that the statements are not predictions of actual future results; which could, and likely will differ materially from those anticipated in the forward-looking statements due to risks and uncertainties, including those described in our SEC filings, copies of which are available through our website or upon request. Fall Update: Construction, shutdown, prices up across the board Balance Sheet Data 6/30/22 12/31/21 Current Assets $45,817,188 $59,935,257 Total Assets 136,266,070 148,952,863 Current Liabilities 21,067,893 31,488,859 Long-Term Liabilities 3,997,306 3,995,139 Member's Equity 111,200,871 113,468,865 Book Value Per Capital Unit 3.75 3.83 Statement of Operations Six Months Ended 6/30/2022 Six Months Ended 6/30/2021 Revenues $139,888,192 $112,853,779 Gross Profit 11,528,459 16,425,273 Net Income $12,788,173 $16,594,182 Capital Units Outstanding 29,620,000 29,620,000 Net Income Per Capital Unit $0.43 $0.56 Distributions Per Capital Unit $0.51 $- Quarter Low Price High Price Average Units Traded Fourth Quarter 2021 2.05 2.94 2.43 90,000 First Quarter 2022 2.90 3.99 3.62 48,500 Second Quarter 2022 3.00 3.52 3.22 138,000 Third Quarter 2022 3.61 3.61 3.61 20,000
