Item 1.01 Entry into a Material Definitive Agreement

On September 14, 2022, Cardinal Ethanol, LLC ("Cardinal") entered into Amendment No. 4 to the Ethanol Purchase and Sale Agreement with Murex LLC ("Buyer") (the "Amendment"). The Amendment amends the Ethanol Purchase and Sale Agreement dated December 18, 2006, as amended (the "Agreement"). The Amendment is dated September 9, 2022 but will be effective on December 1, 2022.

The Amendment extends the term of the Agreement until December 31, 2024, to be renewed thereafter automatically for one-year periods unless either party gives notice of non-renewal in accordance with the terms of the Amendment. Pursuant to the Amendment, Cardinal may earlier terminate the Agreement on 90 days prior written notice if Cardinal experiences a "Material Change in Control" as defined in the Amendment. Upon termination of the Agreement for any reason, Cardinal may be obligated to to continue to deliver ethanol to Buyer for a period of time to cover certain contractual commitments made by Buyer so long as Cardinal gave prior written approval of such commitments.

The Amendment provides that Cardinal will pay a commission to Buyer for each net gallon of ethanol that Buyer takes under the Agreement to be calculated in accordance with the terms of the Amendment. The Amendment also provides for certain adjustments to the purchase price for sales made for Buyer's own Account or for sales of exported ethanol. If this adjusted price can not be finalized at time of payment, the parties may agree upon a provisional price which shall be trued up later.

Pursuant to the Amendment, Buyer will provide and lease to Cardinal a minimum number of tank cars for rail transportation and manage the tank car fleet on behalf of Cardinal. Cardinal will pay a monthly amount to Buyer on or before the first of each month for rail car leases.

Item 9.01 Financial Statements and Exhibits



(a)None.

(b)None.

(c)None.

(d)Exhibits.

Exhibit No.  Description



     99.1             Fourth Amendment to Ethanol Purchase and Sale Agreement between Cardinal
                      Ethanol and Murex, N.A., dated September 9, 2022**
      104             Cover Page Interactive Data File (embedded within the Inline XBRL
                      document).

**Confidential Information Redacted

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