NEW Directions September 2017 : Page 2

As we approach harvest, the addition of four million bushels of new storage built this summer certainly couldn’t have come at a better time. Large variability of this year’s crop size has us analyzing all locations to ensure our producers that we will be able to handle whatever size crop mother-nature ends up throwing at us. All nine of our grain projects (storage, receiving, drying, and bunker improvements) are very close to completion, and will be ready to serve your needs when the combines start to roll. Along with these projects, repairs at all of the locations damaged by this springs’ storms are also nearing completion. Construction continues in Rowan on what will be our third pellet mill, and NEW’s sixth feed mill. August was a milestone for NEW Cooperative’s feed business with the manufacturing of one million tons of feed in less than a year (11 months to be exact)! This feat takes an incredible team effort from all of our feed employees. Once all of our mill projects are complete, this team will be producing feed at the rate of one million tons every 7½ months. Each ton of feed manufactured, through the consumption of corn, soybean meal and dried distillers, creates a value to your farming operation that cannot be overstated. Congratulations to our Feed Department! On August 1st, NEW Cooperative began operations of the former Berne Cooperative in Ute. Brady Goslar leads the team for NEW at this location. Employees have spent the summer learning NEW Cooperative’s computer systems and marketing programs. They are ready to serve producers in Crawford, Harrison, and Monona Counties. I would like to thank all of the former members of Berne Cooperative for their tremendous support shown throughout this process. Their support resulted in a member vote with the highest passing approval percentage in recent memory. On September 1st, NEW began operations of the former Platinum Grain facility in Anthon. This very modern, three-million-bushel facility, will work in tandem with our other locations in the area. Managed by John Hoppe, his many years of experience will certainly prove to be valuable as we serve the needs of our surrounding area members. This past month, your Board of Directors approved the payout of the 2009 Regional Deferred Equity. These checks will be mailed out in early September and taxes have been paid on this money. While Regional Cooperative earnings have softened this past year with the slowing agricultural sector, NEW has been able to revolve another year of Regional Deferred Equity. NEW Cooperative is very proud of our ability to keep the deferred equity pool current as we strive to keep money in the hands of our member-owners. On behalf of all the employees across NEW, thank you for your support of NEW Cooperative. Have a safe harvest season! DAN DIX | General Manager New Cooperative is very proud of our ability to keep the deferred equity pool current as we strive to keep money in the hands of our member-owners. NEW DIRECTIONS { 2 } SEPTEMBER 2017

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