Conestoga Energy Appoints Jeff Chesnut as Chief Financial Officer

Seasoned Financial Executive Brings Over 25 Years of Strategic Leadership Experience to Help Scale Conestoga's Renewable Fuels Platform

LIBERAL, Kan.--(BUSINESS WIRE)--Conestoga Energy (“Conestoga” or the “Company”), the leading provider of low carbon intensity biofuel, today announced the appointment of Jeff Chesnut as Chief Financial Officer, effective immediately. Mr. Chesnut brings extensive financial leadership experience and a proven track record of driving growth and value creation across complex, scaling organizations.

With over 25 years of experience in strategic planning, capital markets, and finance, Mr. Chesnut will play a pivotal role in executing Conestoga's growth strategy and further strengthening its position as a leader in low carbon intensity, sustainable biofuel solutions. His expertise across corporate development, strategy, finance, capital raising, growth planning, M&A, and investor relations will be instrumental as Conestoga expands its renewable energy platform that enhances access to affordable, reliable, and secure energy while bridging the gap between traditional agriculture and the clean energy economy.

“Jeff is a seasoned financial executive who will be instrumental as we continue to advance our position as the leader in low carbon intensity biofuels,” said Tom Willis, Chief Executive Officer of Conestoga Energy. “Jeff's extensive background in financial leadership, strategic planning, and capital markets including his experience as a public company CFO, will be invaluable as we continue to scale our operations, pursue growth opportunities, and maximize value for our shareholders. His proven ability to drive financial and operational excellence aligns perfectly with our vision for Conestoga's future in the renewable energy sector.”

Prior to joining Conestoga, Mr. Chesnut served as Senior Vice President of Treasury, Investor Relations and Corporate Development at Upbound Group, Inc. (Nasdaq: UPBD), where he led a successful $460 million strategic acquisition and managed key treasury functions including debt refinancing that resulted in significant interest savings. Previously, he served as Executive Vice President and Chief Financial Officer at publicly listed Loyalty Ventures Inc., which was a spinoff from publicly listed Alliance Data Systems, Inc. (now Bread Financial), where he spent over a decade and played a key role in transforming the company from a conglomerate structure to a streamlined business, executed multiple billion-dollar transactions, and managed complex capital market transactions.

“I am honored to join Conestoga Energy at such an exciting time for both the company and the energy industry,” said Mr. Chesnut. “Conestoga's innovative approach to providing low carbon intensity biofuels positions it uniquely in the market to meet the growing demand for sustainable energy solutions. I look forward to working with the talented team at Conestoga to drive financial excellence, strategic growth, and long-term value creation for all stakeholders.”

Mr. Chesnut holds an MBA from the Kellogg School of Management at Northwestern University and a Bachelor of Business Administration degree from The University of Texas at Austin. He is also a Certified Public Accountant and a member of the AICPA.

About Conestoga Energy

Headquartered in Liberal, Kansas, Conestoga is a renewable energy company focused on providing the lowest carbon, sustainable biofuel, and related bio-alcohol and ingredient solutions. Conestoga owns two ethanol plants and manages over 175+ million gallons per year along with related co-products across Kansas. Conestoga has been capturing CO₂ for over 15 years primarily for Enhanced Oil Recovery (EOR), and generates both Corn-Based Ethanol (D6) and Cellulosic Biofuel (D3) RINs. Conestoga is one of the largest traders in obligated carbon markets, including RINs, LCFS, RGGI and CCA. For additional information about Conestoga, visit www.conestogaenergy.com