13D Filing: Carlson Capital and Renewable Energy Group Inc. (REGI)

This Amendment No. 2 to Schedule 13D amends and supplements the Schedule 13D filed with the Securities and
Exchange Commission (the SEC) on May 31, 2016, and Amendment No. 1 thereto, filed with the SEC on October 5, 2016, on behalf of the Reporting Persons with respect to the shares of common stock, par value $0.0001 per share
(the Common Shares), of Renewable Energy Group, Inc., a Delaware corporation (the Issuer).

(a), (b) The Reporting Persons may be deemed to
beneficially own in the aggregate 3,575,000 Common Shares. Based upon a total of 38,594,266 Common Shares outstanding as of April 28, 2017, as reported in the Issuers Quarterly Report on Form 10-Q
for the quarterly period ended March 31, 2017, filed with the Securities and Exchange Commission (the SEC) on May 8, 2017, the Reporting Persons shares represent approximately 9.26% of the outstanding Common Shares.

Carlson Capital, Asgard II, Asgard I and Mr. Carlson may be deemed to beneficially own and have the power to vote and direct the
disposition of (i) the 1,671,900 Common Shares reported herein as owned by DOF, (ii) the 1,824,559 Common Shares reported herein as owned by TOF, and (iii) the 78,541 Common Shares reported herein as owned by OFF.

DOF may be deemed to beneficially own and has the power to vote and dispose the 1,671,900 Common Shares reported herein as owned by it, which
shares represent approximately 4.33% of the outstanding Common Shares.

TOF may be deemed to beneficially own and has the power to vote and
dispose the 1,824,559 Common Shares reported herein as owned by it, which shares represent approximately 4.62% of the outstanding Common Shares.

OFF may be deemed to beneficially own and has the power to vote and dispose the 78,541 Common Shares reported herein as owned by it, which
shares represent approximately 0.20% of the outstanding Common Shares.

(c) The trading dates, number of shares of Common Stock purchased
or sold, and the price per share for all transactions by the Reporting Persons in the Common Stock in the past 60 days, all of which were brokered transactions effected in the open market (unless otherwise noted), are set forth below.

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