Exhibit 99.5

Renewable Energy Group, Inc.

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Six Months Ended June 30, 2014

(In thousands, except share and per share amounts)

	Renewable Energy Group, Inc.			Syntroleum Corporation			Dynamic Fuels, LLC			Adjustments/ Eliminations					Total
		(a)
Revenues
Biodiesel	$	551,871		$	—		$	154		$	—				$	552,025
Services		87			365			3			—					455
Total revenues		551,958			365			157			—					552,480
Cost of goods sold
Biodiesel		525,196			—			10,368			(66	)	(b)			535,498
Services		47			732			—			—					779
Total cost of goods sold		525,243			732			10,368			(66	)				536,277
Gross profit (loss)		26,715			(367	)		(10,211	)		66					16,203
Selling, general and administrative		29,154			3,426			410			427		(c)			33,417
Income (loss) from operations		(2,439	)		(3,793	)		(10,621	)		(361	)				(17,214	)
Other income (expense), net:
Other income		816			(6,189	)		79			5,539		(d)			245
Interest expense		(1,755	)		—			(427	)		—					(2,182	)
		(939	)		(6,189	)		(348	)		5,539					(1,937	)
Income (loss) before taxes		(3,378	)		(9,982	)		(10,969	)		5,178					(19,151	)
Income tax benefit		12,026			—			—			—					12,026
Net income (loss)		8,648			(9,982	)		(10,969	)		5,178					(7,125	)
Less - Gain on redemption of preferred stock		378			—			—			—					378
Less - Effect of participating preferred stockholders		(40	)		—			—			—					(40	)
Less - Effect of participating share based awards		(128	)		—			—			128		(e	)		—
Net income (loss) attributable to the company’s common stockholders	$	8,858		$	(9,982	)	$	(10,969	)	$	5,306				$	(6,787	)
Net income (loss) per share attributable to common stockholders
Basic	$	0.23													$	(0.16	)
Diluted	$	0.22													$	(0.17	)
Weighted average shares used to compute net income (loss) per share attributable to common stockholders:
Basic		39,119,430														42,072,595
Diluted		39,129,136														42,494,587

See accompanying notes to the unaudited pro forma condensed consolidated financial statements.

Renewable Energy Group, Inc.

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Year Ended December 31, 2013

(In thousands, except share and per share amounts)

	Renewable Energy Group, Inc.			Syntroleum Corporation			Dynamic Fuels, LLC			Adjustments/ Eliminations				Total
		(a)
Revenues
Biodiesel	$	1,498,011		$	—		$	46,340		$	—			$	1,544,351
Services		127			1,957			—			(469	)	(f)		1,615
Total revenues		1,498,138			1,957			46,340			(469	)			1,545,966
Cost of goods sold
Biodiesel		1,258,549			—			47,454			(1,139	)	(g)(b)		1,304,864
Services		156			2,460			—			—				2,616
Total cost of goods sold		1,258,705			2,460			47,454			(1,139	)			1,307,480
Gross profit (loss)		239,433			(503	)		(1,114	)		670				238,486
Selling, general and administrative		46,123			8,835			956			853		(c)		56,767
Income (loss) from operations		193,310			(9,338	)		(2,070	)		(183	)			181,719
Other income (expense), net:
Other income		388			7,085			280			(4,822	)	(d)(h)		2,931
Interest expense		(2,397	)		—			(1,450	)		—				(3,847	)
		(2,009	)		7,085			(1,170	)		(4,822	)			(916	)
Income (loss) before taxes		191,301			(2,253	)		(3,240	)		(5,005	)			180,803
Income tax expense		(4,935	)		—			—			—				(4,935	)
Net income (loss)		186,366			(2,253	)		(3,240	)		(5,005	)			175,868
Less - Distributed dividends to preferred stockholders		(2,055	)		—			—			—				(2,055	)
Less - Effect of participating preferred stock		(16,272	)		—			—			1,981		(i)		(14,291	)
Less - Effect of participating share- share based awards		(2,785	)		—			—			301		(i)		(2,484	)
Net income (loss) attributable to the company’s common stockholders	$	165,254		$	(2,253	)	$	(3,240	)	$	(2,723	)		$	157,038
Net income per share attributable to common stockholders
Basic	$	5.00												$	4.46
Diluted	$	5.00												$	4.46
Weighted average shares used to compute net income per share attributable to common stockholders:
Basic		33,045,164													35,208,541
Diluted		33,052,879													35,216,256

See accompanying notes to the unaudited pro forma condensed consolidated financial statements.

NOTES TO THE PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands)

(Unaudited)

The unaudited pro forma condensed consolidated statements of operations include the six months ended June 30, 2014 and year ended December 31, 2013 financial information for Renewable Energy Group, Inc. (the “Company”), Syntroleum Corporation (“Syntroleum”) and Dynamic Fuels, LLC (“Dynamic Fuels”). As Dynamic Fuels’ fiscal year end is September 30, the Company included financial information for the periods from October 1, 2012 through September 30, 2013 for the year ended December 31, 2013 pro forma condensed consolidated statement of operations and from January 1, 2014 through June 30, 2014 for the six months ended June 30, 2014 pro forma condensed consolidated statement of operations. The Dynamic Fuels financial information for the three month period October 1, 2013 through December 31, 2013 was excluded from the statement. The revenues, gross margin loss, general and administrative expenses and net loss for that period were $150, $6,105, $221 and $6,567, respectively. An unaudited pro forma condensed consolidated balance sheet as of June 30, 2014 has not been presented given Renewable Energy Group, Inc.’s reported balance sheet as of June 30, 2014 includes the balance sheet results of the transaction. For information regarding the consideration transferred and purchase price allocation related to this transaction, see Note 3 of the Renewable Energy Group, Inc. Form 10Q as of June 30, 2014.

The following adjustments are included in the Company’s unaudited pro forma condensed consolidated statements of operations:

(a) The unaudited pro forma condensed consolidated statements of operations were prepared with the Company treated as the acquiring corporation for purposes of applying the acquisition method of accounting.

(b) Adjusted to reflect the change in carrying value of the fixed assets based upon the acquisition of Syntroleum and Dynamic Fuels. The carrying value of the depreciable fixed assets decreased $2,620 with an estimated weighted average useful life of 20 years. The amount of depreciation expense decreased $66 and $131 for the pro forma for the six months ended June 30, 2014 and the year ended December 31, 2013, respectively.

(c) The Company acquired $8,300 in renewable diesel technology with an estimated useful life of 20 years. The Company also acquired $600 in trademarks with an estimated useful life of two years. The total amount of amortization for these intangibles taken for the pro forma for the six months ended June 30, 2014 and the year ended December 31, 2013 was $427 and $853, respectively.

(d) Adjusted to reflect the elimination of the equity earnings (loss) allocated from Dynamic Fuels to Syntroleum as amounts represent intercompany transactions as follows:

For the six months ended June 30, 2014

Syntroleum	Dynamic Fuels	Total
$  5,539	$  —	$  5,539
For the year ended December 31, 2013
Syntroleum	Dynamic Fuels	Total
$  1,569	$  —	$  5,539

(e) Adjusted to eliminate the effect of participating share based awards as the Company’s net income was adjusted to a pro forma net loss.

(f) Adjusted to eliminate the technical services revenues between the acquired companies as amounts represent intercompany transactions as follows:

For the year ended December 31, 2013

Syntroleum	Dynamic Fuels	Total
$  (469)	$  —	$  (469)

(g) Adjusted to eliminate the engineering services and production royalties between the acquired companies as amounts represent intercompany transactions as follows:

For the year ended December 31, 2013

Syntroleum	Dynamic Fuels	Total
$  —	$  (1,008)	$  (1,008)

(h) Adjusted to eliminate the income from discontinued operations recognized by Syntroleum for a disposition occurring prior to this transaction:

For the year ended December 31, 2013

Syntroleum	Dynamic Fuels	Total
$  (6,391)	$  —	$  (6,391)

(i) Adjust the amount attributable to the effect of participating preferred stock and shared-based awards based upon the change in pro forma net income.