The following form email was sent by Robert Kenyon, Senior Vice President, Sales & Marketing of
Renewable Energy Group, Inc., to certain customers on February 28, 2022.
February 28, 2022
Dear
Valued Customer,
I am reaching out with exciting news regarding REG. This morning, we announced REG has reached an agreement to be acquired by Chevron.
The transaction combines REGs growing renewable fuels production and leading feedstock capabilities with Chevrons large manufacturing assets
and leading distribution and commercial marketing position. REG has been a pioneer in working with customers to adopt lower carbon intensity fuel solutions across a multitude of global channels. The combined company is expected to benefit from
complementary strengths across the renewable fuels value chain from feedstocks to manufacturing to marketing to customers.
Joining forces with a
company that has the size, scale and capability of Chevron is expected to give us additional resources to expand our portfolio of renewable energy solutions and take our growth and strategic delivery to the next level. Chevron shares our focus on
safety, integrity, operational excellence and helping build a lower-carbon future.
We believe the transaction will strengthen our collective ability to
deliver the renewable fuels our customers and the world need. In fact, we expect to be positioned to offer more lower carbon intensity energy solutions. We are excited to become an even stronger partner to our customers as we work together with
Chevron to accelerate the transition to renewable, clean energy.
Until the transaction closes, which we expect to happen in the second half of 2022, REG
and Chevron will continue to operate as separate, independent companies. We remain focused on operating safely and delivering high quality products and services to you and all our customers, guided by our core values.
Following the completion of the transaction, Chevrons renewable fuels business will be headquartered in Ames and operate under the name Renewable Fuels
REG. You can expect to continue to work with us as you always have. If you have any questions, please reach out to your usual contact.
Thank you
for your support and partnership. You are a key driver of the robust demand for renewable energy solutions, and we look forward to serving you for many years to come.
Sincerely,
Additional Information About the Acquisition and Where to Find It
This communication is being made in respect of the proposed transaction involving Renewable Energy Group, Inc. (REG), Chevron Corporation
(Chevron) and Cyclone Merger Sub Inc. A meeting of the stockholders of REG will be announced as promptly as practicable to seek stockholder approval in connection with the proposed transaction. REG expects to file with the SEC a proxy
statement and other relevant documents in connection with the proposed transaction. The definitive proxy statement will be sent or given to the stockholders of REG and will contain important information about the proposed transaction and related
matters. INVESTORS AND STOCKHOLDERS OF REG ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT REG AND THE
PROPOSED TRANSACTION. Investors may obtain a free copy of these materials (when they are available) and other documents filed by REG with the SEC at the SECs website at www.sec.gov.