Investor PresentationProducing Tomorrow’s Energy M a r c h 2 0 1 9

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plans and prospects, within the safe harbor provisions under Private Securities Litigation Reform Act of 1995. These statements involve

known and unknown risks, uncertainties and other factors which may cause the results of Vertex Energy, its divisions and concepts to be

materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in

documents Vertex Energy files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and

Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy’s future results. The forward-

looking statements included in this presentation are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels

of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally,

Vertex Energy undertakes no obligation to update these statements after the date of this presentation, except as required by law, and also

undertakes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.

Industry Information

Information regarding market and industry statistics contained in this presentation is based on information available to us that we believe is

accurate. It is generally based on publications that are not produced for investment or economic analysis.

2

Vertex Energy, Inc. (VTNR) is a refining company that produces FUEL for ships and HIGH-PURITY LUBRICANTS for automobiles while saving the earth in the process.

Company Overview

Key Logistics include aggregation and transportation of refinery

feedstocks such as light crude, used motor oil, petroleum and

chemical co-products, and downstream product-distribution

systems.

Produce and commercialize a broad range of high-purity

intermediate and finished products, such as fuel oils, marine-

grade distillates and high-purity base oils used for lubrication.

Reputation for producing high purity Group II+ base oils and

having built a solid platform for distribution, marketing, sales and

technical support of its imported Group III base oils.

3

Additional Facility: Myrtle Grove is located on a 41 acre industrial

complex along the Gulf Coast in Belle Chasse, LA, with existing

hydroprocessing, plant infrastructure assets, and 214,000 barrels

of storage.

Three operating divisions: Black Oil; Refining & Marketing; and

Trading & Recovery.

Integrated Specialty Refining Company

Addressable Markets

▪ Third-party aggregation

network of ~50 supply

points across the U.S.

▪ 2 Third-party terminals

for aggregation of UMO

located in Houston, TX,

and Mobile, AL.

▪ Growing street-level

UMO collection

expertise at 30 million+

gallons.

▪ 60 trucks operating as

collectors across

15 states.

▪ Higher-margin internal

collection strategy.

Refining Self Supplied Feedstock

▪ Nationwide processing

capacity of over

2.7 million barrels.

▪ Developed and

patented unique UMO

processing technology.

Feedstock Aggregation

4

▪ Low sulfur marine fuels

for sea going vessels.

▪ High purity base oils for

lubrication.

▪ Specialty blendstocks

for asphalt, gasoline,

pygas and utility fuels.

Addressable Market: Marine Fuels - IMO 2020

5

▪ On January 1, 2020, IMO requires the lowering of sulfur content in Bunker Fuel from 3.5% to .5%

▪ IMO 2020 is a regulation to address the environmental risks posed by the high level of sulfur and nitrogen emitted by ships

▪ Total diesel demand is anticipated to grow by 1.2 – 1.3 million barrels per day.

▪ Depressed High Sulfur Fuel Oil values will cause the value of UMO to follow

▪ UMO feedstock values would likely move the street collection industry back to a No Pay/Charge-For-Oil model

▪ Merchant spreads to improve for Vertex

6

Used Motor Oil Refining Advantage

▪ Less feedstock cost relative to crude oil purchase-price▪ Re-refining is a route to conserve and fully realize the valuable chemistry inherent to base oils▪ The quality of the base oil through re-refining improves as a direct result of the feedstock cycle and the process technology

deployed▪ Refineries processing crude oil have alternative product markets with higher value economics in comparison to the yield loss from

producing Group III base stock

Base Oil production from used motor oil (UMO) is more efficient than from crude oil.

Gallon of Crude Oil

Heavy Fuel 4%

Light Fuel 5%

Water 5%

VGO/

Lube Distillate 73%

Asphalt Flux 13%

Gallon of UMO(1)

VERTEXHydroprocessing

Technology

Fuels and Co-

products

Group II+/III Base

Oils

Lubricants 1.1%

(1) Percentage breakdowns are illustrative

Source: Chemical Engineering Partners

Addressable Market: High Purity Base Oil

U.S. Group III Oil Market Key Considerations

▪ Group III base oils will become the primary base stock for high

quality lubricants needed for high performance engines to

meet corporate average fuel economy (CAFÉ) and lower

emissions standards

▪ Group III base oil market is projected to increase at an annual

rate of 10% in the U.S. for the next ten+ years. The same

trend is eventually expected world-wide

▪ Demand is expected to grow by around 50% over the next five

years with very limited Group III production capacity in the U.S.

(most of which is intended for internal consumption by the

producer)

▪ High purity Base Oil production from used motor oil is more

efficient than from crude oil. Also, the quality of the base oil

through re-refining improves as a direct result of the feedstock

cycle and the process technology

• Group III base oil demand projected to increase exponentially in the U.S. market within the next decade

• Heartland Facility, located on Columbus, Ohio, with a refining capacity of 20 million gallons

• Myrtle Grove, located in Belle Chasse, Louisiana, with a potential 50 million gallon increase in capacity

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Refinery Operation Drivers - Volumes

Cost-effective strategy for building the Company’s

feedstock supply chain by establishing a successful self-

collection and aggregation infrastructure.

Regional model that can be replicated across the U.S.A. to

manage logistics and reduce costs

Marketing, Sales, and distribution platform for Company’s

refined products

Exclusive agreement with Penthol C.V. to market, transport,

and sell imported Group III base oil in the United States

'-

7,500

15,000

22,500

30,000

37,500

2014 2015 2016 2017 2018 2019 Target

Collection Volume

CAGR: 23%

Strategically located Refining assets geared towards

specific addressable markets creating earnings leverage

Self Supplied Feedstock Growth (in thousands)

8

Refining Facilities

9

Heartland (Ohio)

Location: Columbus, Ohio

Annual Capacity: 476 thousand barrels (1500bpd)

Collection Volume: 10 million gallons

Finished Product: Group II+ Base Oil

Each self-collected gallon of UMO is estimated to

provide a margin or $0.25 - $0.30 per gallon over a

gallon purchased from a third-party

Collection clustered around a re-refinery significantly

reduces transportation costs from longer distance

suppliers

Marrero (Louisiana)

Location: Marrero, Louisiana

Annual Capacity: 1.6 million barrels (4800bpd)

Finished Product: Vacuum Gas Oil (VGO)

Strategic Benefit:

▪ Diversification of product mix

▪ New ECA-fuel/marine market capabilities

▪ Strategic logistical supply location near

Mississippi River and US Gulf markets

Location: Baytown, Texas

Annual Capacity: 833 thousand barrels (2500bpd)

▪ Waterfront facility with 20 acres positioned adjacent

to the Houston ship channel

▪ Provides supply and distribution advantages into

one of the largest petro-chemical markets

▪ ~100,000 bbls of storage on site that includes

finished product tanks, feed tanks, and other tanks

▪ Possess EPA transfer facility and USGC marine

facility permits

TCEP facility (Baytown)

Other Facilities

10

Location: Myrtle Grove, Louisiana

▪ Situated on 41 acres of land along Gulf Coast inBelle Chasse, LA

▪ Located just 26 miles South of New Orleans—

accessible by the Mississippi River and servicedby rail

▪ Adjacent to ConocoPhillips Alliance refinery

▪ Nearby access to I-10

Myrtle GroveKMTEX (Port Arthur)

Location: Port Arthur, Texas

Finished Product: Gasoline blendstock, pygas,

cutterstock

Strategic Benefit:

▪ Tolling agreement for strategically located

re-refining capacity

Port Arthur

Location: Port Arthur, TX

Operates under tolling agreement

National Footprint – Regional Focus

11

Operating & Manufacturing Refineries

Facility to be developed

Vertex maintains a national footprint with the

capabilities to collect/aggregate feedstock

across the country and from major

transportation hubs.

National FootprintVertex now operates regional hubs in highly strategic

locations, which will optimize transportation costs.

Regional Model

TCEP Facility

Location: Baytown, TX

Capacity: 35 million gallons

Heartland Facility

Location: Columbus, OH

Capacity: 20 million gallons

Myrtle Grove

Location: Belle Chasse, LA

Currently unutilized refining asset

Marrero Facility

Location: Marrero, LA

Capacity: 67 million gallons

Vertex operates as a national player (~23% of total UMO refining capacity in North America) while maintaining effective logistical expertise and cost-

effectiveness of a regional refiner.

Swap Agreement

Regional Swap Agreement

with CLH

Terminal – Aggregation facility

Earnings Growth FocusSet-up for Success

▪ Focus on increasing our collection operations through both organic growth and strategic acquisitions, volume increased 17% during the

LTM ended 12/31/18 vs. LTM ended 12/31/17. On track to collect over 34 million gallons at the end of 2019.

▪ Leverage the high-purity base-oil markets through previous Heartland facility capital improvements and technological upgrades, and

future investments at the Myrtle Grove site.

▪ Focus on Low Sulfur Marine Fuels. Expand into additional refining capacity to include low sulfur crude oil. Started commercial trials at the

CMT/TCEP facility to produce a fuel oil blendstock that would meet the new IMO’s 2020 marine bunker fuel regulations; completed barge

trial in Q1 2018.

Premium Base Oil Production

▪ Specialty refiner of high purity Group II+ base oils.

▪ Major importer of Group III base oil for commercial use in the United States.

Advantageous Market Dynamics

▪ Strategic assets located in the gulf to capitalize on the new 2020 IMO fuel requirements for marine fuels to contain 0.5% or less Sulphur

in ECA zone of <200 miles from coastline.

▪ Majority of Group III supplied to U.S. are imported from the Middle East and Asia representing an $0.25/gal transportation disadvantage.

Group III base oil demand expected to increase in US by 50% over next 5 years due to full synthetic lubricant requirements for most new

automobiles.

Myrtle Grove Site – Belle Chasse, Louisiana

▪ Industrial complex with existing processing plant infrastructure. Large storage volume capacity.

▪ Access to Mississippi River with sea-going barges, rail access and truck access nearby I-10.

▪ Myrtle Grove will produce high purity group III base oil and marine fuels, as well as utilizing site for bulk storage and finished product

blending.

We are working on our finished products strategy with multiple R&D projects underway.

Raise private capital to invest and fully monetize the development of our Myrtle Grove, CMT/TCEP, and Heartland facilities.

12

VERTEX DIVISIONS

▪ Addressable Markets High purity Base Oils for Lubrication in North America

Low Sulfur marine fuels for ocean going vessels in US Gulf Coast

▪ Specialty Refining – Process used motor oil in-house using proprietary technologies: Marine Fuels – produced 48.3 million gallons last 12 months

Group II+ base oil – produced 13.8 million gallons last 12 months

TCEP technology – did not produce finished product during last 12 months

▪ Feedstock Aggregation – Purchase third-party feedstock from a network of

approximately 50 supply points across the U.S.

~50.1 million gallons aggregated over the last 12 months

▪ Self Collections – Own and operate a fleet of vehicles which collects used motor oil

from a network of approximately 8,000 generators. 30.6 million gallons collected during the last 12 months

Black Oil

2018 Revenue: $143.8MM (79.6% of Total)

2018 Gross Profit: $27.3MM (18.9% Margin)

Black Oil

The Black Oil Division refines used motor oil as an alternative feedstock to produce high purity base oils and marine fuels.

14

Refining & Marketing

2018 Revenue: $22.9 MM (12.7% of Total)

2018 Gross Profit: $.64MM (2.8% Margin)

Refining & Marketing

The Refining & Marketing Division refines clean-crudes to marine fuels, and petroleum co-products to chemical feedstock

and specialty blend components .

15

▪ Source feedstock from commercial sources, including crude suppliers,

products pipeline operators, petroleum terminals, refineries, chemical

processing facilities, and third-party providers

▪ Development of crude refining assets for Marine Fuels

▪ Co-product processing completed with KMTEX, a third-party refinery.

▪ Co-product Refining Produces Various End Products:

Gasoline Blendstock – raw gasoline sold to blenders

Pygas – Feedstock used by chemical companies

Fuel Oil Blendstocks – used in blending industrial fuel for

power generation

▪ These services are currently provided in 15 states, primarily in

the Gulf Coast and Midwest.

▪ In the last 12 months**, this division aggregated approximately

25,000 gross tons of steel and 680,000 barrels of petroleum

products.

▪ North America Group III Base oil sales and distributions.

Vertex Trading & Recovery

2018 Revenue: $13.9MM (7.7% of Total)

2018 Gross Profit: $1.4MM (10.3% Margin)

Recovery

The Recovery Division provides recovery, trading, and marketing services for hydrocarbon and metal commodities.

16

**Last 12 Months ended 12/31/2018

FINANCIALS

$8.9

$1.3

($17.3)

$5.7

($0.1)

$8.0

-$23

-$18

-$14

-$9

-$5

$0

$5

$9

$14

2013 2014 2015 2016 2017 2018

$16.3

$11.9 $10.7

$16.3

$21.2

$29.4

$0

$8

$15

$23

$30

$38

2013 2014 2015 2016 2017 2018

Revenue ($MM)

Gross Profit ($MM)

Total Volume (MMBbls)

EBITDA ($MM)

$162.0

$258.9

$146.9

$98.0

$145.5

$180.7

$0

$75

$150

$225

$300

2013 2014 2015 2016 2017 2018

1.728

2.855 2.784

2.1672.466 2.476

0.00

0.75

1.50

2.25

3.00

2013 2014 2015 2016 2017 2018

Financials

18

Financials Cont’d.

Period ($ in millions except per share data)

2013 2014 2015 2016 2017 2018

Volume (Barrels) 1,728,071 2,854,757 2,784,363 2,167,375 2,466,397 2,476,989

YoY Change 20.4% 65% (2)% (22)% 14% 0%

Revenue $162MM $258.9MM $146.9MM $98.0MM $145.5MM $180.7MM

YoY Change 20.4% 60% (43)% (33)% 48.4% 24%

Gross Profit $16.3MM $11.9MM $10.7MM $16.3MM $21.2MM $29.4MM

Gross Margin % 10.0% 4.6% 7.2% 16.6% 14.6% 16.3%

EBITDA $8.9MM $1.3MM $(17.3)MM $5.7MM $(.1)MM $8.0MM

Adjusted EPS $0.44 $0.05 $(.61) $.19 $.01 $.23

NOLs of ~$54.8MM

19

▪ Focus on Improving profitability and growing free cash flow through operational and pricing discipline

▪ Gross Margin of 16.3% for 2018, compared to 15.2% in 2017.

▪ Overall volumes of product sold – which measures reach into the market – was flat for the 12 mos. ended 12/31/2018.

▪ Consolidated per barrel margin increased 100%, as a result of production improvements, continued focus on finished product value enhancement, and

management of costs and spreads.

▪ Top-tier base of refining assets focused on two developing markets – low sulfur marine fuels for IMO 2020 and high purity base oils

for lubrication

▪ Marine fuel sales opportunity currently providing $.08+ per gallon improvement in 2018

▪ Higher merchant spreads anticipated in 2019 with the IMO 2020 Bunker fuel regulations

▪ Heartland facility produces High Purity GII+ Base Oil with long-term strategic value opportunity

▪ Myrtle Grove refinery being developed to produce Group III base oil using its own proprietary technology

▪ Regional Refining model with business hubs located in key geographic areas

▪ Opportunity to optimize logistics, increase supply and capture logistics margin

▪ Allows for “local expertise” in each market, which leads to better customer/supplier relations

▪ Market leverage around pricing – industry leaders in managing spread

▪ New base oil paradigm for refining high purity products from alternative UMO feedstock vs. conventional crude oil

▪ Significant yield advantage of high purity molecules

▪ Economic spread advantage

▪ Lower cost of feedstock

▪ Lower energy cost and lower carbon footprint

Investment Highlights

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Benjamin P. Cowart | Chief Executive Officer, Chairman of the Board, Founder

32 years petroleum recovery industry, pioneering the reclamation industry by developing recycling options for many

hydrocarbon residual materials once managed as hazardous wastes

John Strickland | Chief Operating Officer

30+ years management and marketing of fuels and petroleum blending operations

Chris Carlson | Chief Financial Officer

15 years financial management, energy, commodity, treasury and risk management

Smith Howland | Manager of Refining & Marketing

32 years processing, trading and marketing of petroleum and chemical products

Mike Stieneker | General Manager of H&H Oil Collections

20+ years management and operations of Used Oil Collections

Alvaro Ruiz | Executive Vice President of Corporate Development

20+ years in manufacturing and services industries

Dave Peel | Corporate Advisor

Extensive leadership in operations, engineering, and expansive experience in industry and technical knowledge

Erica Snedegar | Manager of Base Oils and Intermediate Products

15+ Years of experience in selling and marketing refined petroleum products

Management team

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APPENDIX – INFORMATION ON USED MOTOR OIL REFINING

AND SELF COLLECTION SERVICES

▪ The U.S. used motor oil recycling industry is approximately $2.4 -

$2.8 billion.

▪ Of the approximately 1.3 billion gallons of used oil generated

annually, less than 50% is re-refined while the rest is burned or

disposed of improperly.

▪ Cheap natural gas creating need for more re-refinement and

processors like Vertex:

▪ Used oil collectors historically sold to local

industrial burners

▪ Industrial burners are switching to cheap

natural gas, and collectors without infrastructure are now selling

to re-refineries

▪ Market price for burning is linked to cheap natural gas while

price for re-refined oil is more closely linked to higher priced

diesel

▪ As more of the 600 million gallons of burned oil is

re-refined, the market size will increase considerably assuming

the spread between diesel and natural

gas holds

Improperly Disposed

Unrefined Recycled Fuel

Re-refined into

Lubricating Base Oils

Re-refined into

Intermediate Products* Midpoint of estimated ranges; gallons in millions

200

550

325

225

35%

25%

20%

15%

5%Burners

Re-Refineries

Vacuum Gas Oil

Export

High Value Fuel

General Overview 1.3 Billion Gallons of Used Oil

Markets for Used Oil

Used Motor Oil Recycling Industry

23

Used Motor Oil Recycling Value Chain

24

Vertical integration enables Vertex to control more of the value chain and capture higher margins.

Generators

▪ Jiffy Lube®, car

dealerships, etc.

Collectors

▪ Collect used oil from

generators

▪ Highly fragmented

Aggregators

▪ Purchase used oil from

collectors

▪ Sell and deliver it

as feedstock for

processors

End Users

▪ End product is used as

an industrial fuel, ship

fuel, base oil or

refinery feedstock

Processors

▪ Technological

upgrades feedstock

into higher-value end

products

Integrated Logistics

Vertex operates and manages a strategic logistics system of terminaling assets for the tendering of ship, truck, rail, and

barges for the supplying and distributions of a wide array of refined and imported petroleum products.

Modes of Logistics

▪ Trucking – Ownership and operation of a vehicle fleet for the

aggregation of feedstock from a network of supply points

throughout the South, East, Midwest and Western United States.

▪ Rail – Vertex has an integrated rail system between business units

to optimize costs and just-in-time-delivery of companies’ refined

and imported products, as well as aggregation of refinery

feedstocks. This expansive rail network provides a logistic

advantage for all of Vertex’s products.

▪ Ship/Barge/Water Logistics – Vertex employs a water born

logistics system for the management of large bulk product

shipments and receivables. This strategy has become increasingly

utilize with the commencement of the Vertex-Penthol venture.

Vertex’s supply chain is carefully managed with cargo shipments of

base oil from a global refiner into the Stolthaven terminal in New

Orleans coordinating truck, rail, and barge deliveries to customers

across North America.

25

Our Process▪ Vertex collects feedstocks and processes them into higher value products for end users.

▪ Vertically integrated across the value chain collecting a variety of feedstocks from the same customer.

▪ Vertex also acts as a broker of used motor oil to strategically control more used motor oil supply.

USED

MOTOR OIL

Co

llection

&

Ag

gre

ga

tio

n

Pro

cessin

g

& H

and

ling Broker:

Manage

Logistics/Sales

USED

ANTIFREEZE

Pro

du

ct

Sa

les

Ve

rtic

ally

In

teg

rate

d M

od

el

USED

OIL FILTERS

CHEMICAL &

PETROLEUM

CO-PRODUCTS

Used

Motor Oil

Marine

Fuel

Pro

du

ct V

alu

e Virgin

Antifreeze

Vertex Value-Added Processing:(Refining, TCEP, Materials Recovery, VGO Processing and Hydro Treating)

Leverage Proprietary and off-the-shelf technologies

Raw

Metal

Higher Value

Feedstock

Base Oil &

Lubes

Sold as-is to burners

and refineries

Distillates,

Gasoline &

BlendStock

26

Thank you