25-43 Modifying and Reconfirming Resolution - Real Property Tax Abatement for Verbio North America LLC at 3201 West Calvert Street

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Pioneering green solutions ferbio Greg Northrup President&CEO Phone. 866 306 4777 x1300 Mobile: 616 204 1055 VERBIO North America,LLC greg.northrup©verbio.us 9 West Broad Street.Suite 400,Stamford CT 06902,USA www.verbio.us October 14,2025 Mr. Erik Glavich Director,Growth&Opportunity City of South Bend 227 West Jefferson Blvd. South Bend,Indiana 46601 RE:Tax Abatement Extension Request Dear Erik, As we have discussed informally Verbio would like to request an extension of our tax abatements,personal and real,from 12/31/2026 to 12/31/2030. I would be available formally to make this request of the city at meeting of October 27,2025. Here is a statement that outlines the reasons for our request. "Verbio North America remains optimistic about the long-term prospects of the renewable fuels market. In the near term,the company is taking strategic steps to align its investment decisions with the need for certainty in the regulatory processes,following the passage of the budget on July 3'd and signed in law on July 4tk. The company's advanced technology production processes require approval from the Department of Energy(DOE), which, in turn,depends on guidelines issued by the Internal Revenue Service(IRS)scheduled for publication in May 2026. Considering the procedural steps required,these approvals are likely to be delayed until 2027 or early 2028. Given this understanding,the company is adjusting its construction timelines for all new capital investments to align with this assessment. We will continue to monitor ongoing developments and, where appropriate,modify or amend our production and construction schedules to meet the financial expectations of our investors." Let me know if you need additional information. Sinc erely,, rrtth / 2 President&CEO