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    Jarrod Edelen

    Senior Analyst at South Dakota Investment Council

    Jarrod Edelen is a Senior Analyst at South Dakota Investment Council specializing in small and mid-cap equity research, with a focus on companies in the energy, ethanol, and industrial sectors. He has covered firms such as REX American Resources, providing in-depth analysis on earnings normalization, invested capital trends, and carbon capture initiatives, and is recognized for his detailed questioning on earnings calls. Edelen joined South Dakota Investment Council by November 2017 as part of the Small/MidCap investment team and has built experience through direct engagement with company management and assessment of regulatory impacts. His professional credentials include advanced quantitative acumen and regular representation of SDIC in sector-focused research, though specific securities licenses or FINRA registrations are not publicly listed.

    Jarrod Edelen's questions to REX AMERICAN RESOURCES (REX) leadership

    Jarrod Edelen's questions to REX AMERICAN RESOURCES (REX) leadership • Q2 2025

    Question

    Jarrod Edelen from the South Dakota Investment Council asked about the Carbon Intensity (CI) score of REX's main plants following recent 45Z legislation, the potential to qualify for credits without a carbon pipeline, the construction timeline post-Illinois moratorium, and the build time for the short-distance pipeline.

    Answer

    CEO Zafar Rizvi stated that REX has not publicly declared a CI score pending clear guidelines, but noted the removal of the 'Smart Farming' requirement is beneficial. Executive Chairman Stuart Rose added that plant efficiency upgrades create a chance for tax credits even before the carbon capture project is operational, but it's too early to confirm. Rizvi detailed that post-moratorium, the company needs permits from the local county, IEPA, and ICC. Once ICC approval is granted, the 6.5-mile pipeline would take a couple of months to build.

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