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Pioneering ,ferbio <br /> green oLutioins <br /> Greg Northrup <br /> President&CEO <br /> Phone: 866 306 4777 x1300 <br /> Mobile: 616 204 1055 <br /> VERBIO North America,LLC greg.northrup©verbio.us <br /> 9 West Broad Street.Suite 40C,Sttamfae,CT 06902,USA <br /> www.verbio.us <br /> October 14,2025 <br /> Mr. Erik Glavich <br /> Director,Growth&Opportunity <br /> City of South Bend <br /> 227 West Jefferson Blvd. <br /> South Bend, Indiana 46601 <br /> RE:Tax Abatement Extension Request <br /> Dear Erik, <br /> As we have discussed informally Verbio would like to request an extension of our tax <br /> abatements,personal and real, from 12/31/2026 to 12/31/2030. I would be available formally to <br /> make this request of the city at meeting of October 27.2025. <br /> Here is a statement that outlines the reasons for our request. <br /> "Verbio North America remains optimistic about the long-term prospects of the renewable <br /> fuels market.In the near term,the company is taking strategic steps to align its investment <br /> decisions with the need for certainty in the regulatory processes,following the passage of the <br /> budget on July 3r4 and signed in law on July 46'. <br /> The company's advanced technology production processes require approval from the <br /> Department of Energy(DOE), which, in turn,depends on guidelines issued by the Internal <br /> Revenue Service(IRS)scheduled for publication in May 2026. Considering the procedural <br /> steps required, these approvals are likely to be delayed until 2027 or early 2028. Given this <br /> understanding,the company is adjusting its construction timelines for all new capital <br /> investments to align with this assessment. <br /> We will continue to monitor ongoing developments and, where appropriate,modify or amend <br /> our production and construction schedules to meet the financial expectations of our <br /> investors." <br /> Let me know if you need additional information. <br /> Sincerely <br /> ir.)?Nort4(2 <br /> President&CEO <br />