bp and High Plains Partners Announce New Joint Venture at High Plains Processing Groundbreaking

MITCHELL, S.D. — On September 19, 2023, High Plains Processing, LLC, a subsidiary of South Dakota Soybean Processors (“SDSP”), along with their project partners, investors and state and local officials, hosted a private groundbreaking ceremony and celebration for their new multi-seed processing facility south of Mitchell, South Dakota, which is being built by SDSP.

During the groundbreaking ceremony, with nearly 300 guests in attendance, High Plains Processing
announced a new joint venture between BP Products North America Inc. a subsidiary of BP plc (“bp”)
and High Plains Partners, LLC. With this new joint venture, High Plains Partners and bp will be the
owners of the High Plains Processing facility. “We are excited to have bp, one of the world’s leading
integrated energy companies, as a strategic partner in this new venture. The investment by bp further
strengthens our business plan by providing direct access and vision into the rapidly growing renewable
fuels market,” said Tom Kersting, Chief Executive Officer of South Dakota Soybean Processors.
Nigel Dunn, SVP biofuels growth at bp, added, “bp is developing high-value, lower-carbon intensity
feedstocks for our biofuels business in service of our ambitious plans to grow production to 100,000
barrels a day by 2030. We are delighted to be working together with High Plains Processing in this multiseed crush plant which will form part of our competitively positioned supply chain.”

The $500 million facility is expected to be operational in 2025 and will have the capacity to process 35
million bushels of soybeans annually or the equivalent of one million tons of high-oil content crops. The
High Plains Processing facility will provide an economic boost to not only the Mitchell area, but also the
entire state of South Dakota while creating an estimated 85 full-time job opportunities and payroll of
approximately $5.5 million annually. The strategic joint venture between bp and High Plains Partners is
one that will provide long-term benefits to producers and communities across South Dakota for years
to come. According to South Dakota Governor Kristi Noem, “The new strategic partnership between
High Plains Partners and bp will have a monumental impact on not only the Mitchell community, but
the entire state of South Dakota. This $500 million project reinforces why South Dakota is the best state in the nation to build and grow a business while also providing opportunities to better our
communities.”

–High Plains Processing