Cardinal Ethanol, LLC and its primary lender, First National Bank of Omaha, on February 21, 2023, executed a Nineteenth Amendment of First Amended and Restated Construction Loan Agreement which amends the First Amended and Restated Construction Loan Agreement dated June 10, 2013. The Amendment increases the maximum availability on the Declining Revolving Credit Loan from $36,000,000 to $39,000,000 and extends the date at which the principal balance of the Declining Revolving Credit Loan is expected to be converted to term debt from February 1, 2024 to May 1, 2024. The Amendment also extends the date that the Revolving Credit Loan matures from February 28, 2023 to February 28, 2024 and increases the capital expenditures loan covenant from $5,000,000 per year to $6,000,000 per year of expenditures without prior approval from the Bank.

The financing is secured by a mortgage on all of the Company's real property and a security interest in all other assets, both tangible and intangible. In connection with the Amendment, Cardinal executed a Fifth Amended and Restated Declining Revolving Credit Note and a Fifth Amendment of First Amended and Restated Construction Loan Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Financing Statement.