TABLE OF CONTENTS

FINANCIAL STATEMENTS

EXHIBITS AND FINANCIAL STATEMENTS

Table of Contents

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|                                                                                                                                                                                                                                                                                   |  |  |
| ý                                                                                                                                                                                                                                                                            |   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the fiscal year ended October 31, 2013.                                                                                                                                                                                                                                  |
| Or                                                                                                                                                                                                                                                                                |
| o                                                                                                                                                                                                                                                                                 |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| for the transition period from                    to                    . |

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|------------------------------------------------------------------------|
|                                                                        |  |  |
| Minnesota(State or other jurisdiction ofincorporation or organization) |   | 41-2002393(IRS EmployerIdentification No.) |

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|-----------------------------------------------------------------|
|                                                                 |  |  |
| Securities registered pursuant to Section 12(b) ofthe Act: |   | Securities registered pursuant to Section 12(g) ofthe Act: |
| None                                                            |   | Class A Units |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |
| Large Accelerated Filer o |   | Accelerated Filer o |   | Non-Accelerated Filer ý |   | Smaller Reporting Company o |

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TABLE OF CONTENTS

FINANCIAL STATEMENTS

EXHIBITS AND FINANCIAL STATEMENTS

Table of Contents

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Table of Contents

|                     |
|---------------------|
|                     |  |  |
| PART I              |
|                |   |   |
| Item 1.        | Business | * |
| Item 1A.       | Risk Factors | * |
| Item 1B.       | Unresolved Staff Comments | * |
| Item 2.        | Properties | * |
| Item 3.        | Legal Proceedings | * |
| Item 4.        | Mine Safety Disclosures | * |
|                |   |   |
| PART II             |
|                |   |   |
| Item 5.        | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | * |
| Item 6.        | Selected Financial Data | * |
| Item 7.        | Management's Discussion and Analysis of Financial Condition and Results of Operations | * |
| Item 7A.       | Quantitative and Qualitative Disclosures about Market Risk | * |
| Item 8.        | Financial Statements and Supplementary Data | * |
| Item 9.        | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | * |
| Item 9A.       | Controls and Procedures | * |
| Item 9B.       | Other Information | * |
|                |   |   |
| PART III            |
|                |   |   |
| Item 10.       | Directors, Executive Officers and Corporate Governance | * |
| Item 11.       | Executive Compensation | * |
| Item 12.       | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | * |
| Item 13.       | Certain Relationships and Related Transactions, and Director Independence | * |
| Item 14.       | Principal Accounting Fees and Services | * |
|                |   |   |
| PART IV             |
|                |   |   |
| Item 15.  | Exhibits, Financial Statement Schedules | 3 |
|                |   |   |
| SIGNATURES          | 4 |

|   |                                                                                                                                              |
|---|----------------------------------------------------------------------------------------------------------------------------------------------|
| * | Refer to the Form 10-K for the fiscal year ended October 31, 2013 and filed with the Securities and Exchange Commission on January 29, 2014. |

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Table of Contents

|     |                      |
|-----|----------------------|
| (a) | Financial Statements |

|        |
|--------|
|        |  |  |
|   |   | PageReference |
|   | Audited Financial Statements |   |
|   |   |   |
|   | Report of Independent Registered Public Accounting Firm | * |
|   |   |   |
|   | Consolidated Balance Sheets as of October 31, 2013 and 2012 | * |
|   |   |   |
|   | Consolidated Statements of Operations for the fiscal years ended October 31, 2013, 2012, and 2011 | * |
|   |   |   |
|   | Consolidated Statements of Changes in Members' Equity for the fiscal years ended October 31, 2013, 2012 and 2011 | * |
|   |   |   |
|   | Consolidated Statements of Cash Flows for the fiscal years ended October 31, 2013, 2012 and 2011 | * |
|   |   |   |
|   | Notes to Consolidated Financial Statements | * |

|   |                                                                                                                                              |
|---|----------------------------------------------------------------------------------------------------------------------------------------------|
| * | Refer to the Form 10-K for the fiscal year ended October 31, 2013 and filed with the Securities and Exchange Commission on January 29, 2014. |

|     |          |
|-----|----------|
| (b) | Exhibits |

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Table of Contents

|        |
|--------|
|        |  |  |
|   |   | HERON LAKE BIOENERGY, LLC |
|   |   |   |
| Date:  | April 23, 2014 | /s/ Steve Christensen |
|   |   | Steve Christensen |
|   |   | Chief Executive Officer |
|   |   |   |
| Date:  | April 23, 2014 | /s/ Stacie Schuler |
|   |   | Stacie Schuler |
|   |   | Chief Financial Officer |
|   |   |   |

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Table of Contents

|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
|          |   |   |   |
| 3.1           |  | First Amended and Restated Articles of Organization of Heron Lake BioEnergy, LLC, as amended effective August 30, 2011 |   | Exhibit 3.1 to Current Report on Form 8-K dated September 2, 2011. |
|          |   |   |   |
| 3.2           |  | Member Control Agreement of Heron Lake BioEnergy, LLC, as amended through August 30, 2011 |   | Exhibit 3.2 to Current Report on Form 8-K dated September 2, 2011. |
|          |   |   |   |
| 4.1           |  | Form of Class A Unit Certificate |   | Exhibit 4.1 of the Company's Registration Statement on Form 10 (File No. 000-51825) filed on August 22, 2008 (the "2008 Registration Statement"). |
|          |   |   |   |
| 4.2           |  | Unit Transfer Policy adopted November 5, 2008 |   | Exhibit 4.1 of the Company's Current Report on Form 8-K dated November 5, 2008. |
|          |   |   |   |
| 4.3           |  | Indenture dated as of September 18, 2013, by and between Heron Lake BioEnergy, LLC and U.S. Bank National Association |   | Exhibit 4.1 of the Company's Current Report on Form 8-K dated September 8, 2013. |
|          |   |   |   |
| 10.1          |  | Fourth Amended and Restated Loan Agreement dated October 1, 2007 by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.1 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.2          |  | Third Supplement dated October 1, 2007 to Fourth Amended and Restated Loan Agreement by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.2 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.3          |  | Fourth Supplement dated October 1, 2007 to Fourth Amended and Restated Loan Agreement by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.3 of the Company's 2008 Registration Statement. |

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Table of Contents

|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.4          |  | Term Note dated October 1, 2007 in principal amount of $59,583,000 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.4 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.5          |  | Term Revolving Note dated October 1, 2007 in principal amount of $5,000,000 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.5 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.6          |  | Personal Guaranty dated October 1, 2007 by Roland Fagen, guarantor, in favor of AgStar Financial Services, PCA |   | Exhibit 10.6 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.7          |  | Fourth Amended and Restated Guaranty dated October 1, 2007 by Lakefield Farmers Elevator, LLC in favor of AgStar Financial Services, PCA |   | Exhibit 10.7 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.8          |  | Fifth Supplement dated November 19, 2007 to Fourth Amended and Restated Loan Agreement by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.8 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.9          |  | Revolving Line of Credit Note dated November 19, 2007 in principal amount of $7,500,000 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.9 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.10         |  | Industrial Water Supply Development and Distribution Agreement dated October 27, 2003 among Heron Lake BioEnergy, LLC (f/k/a Generation II Ethanol, LLC), City of Heron Lake, Jackson County, and Minnesota Soybean Processors |   | Exhibit 10.10 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.11         |  | Industrial Water Supply Treatment Agreement dated May 23, 2006 among Heron Lake BioEnergy, LLC, City of Heron Lake and County of Jackson |   | Exhibit 10.11 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.12         |  | Standard Form of Agreement between Owner and Designer—Lump Sum dated September 28, 2005 by and between Fagen, Inc. and Heron Lake BioEnergy, LLC† |   | Exhibit 10.12 of Amendment No. 4 to the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.13         |  | Distiller's Grain Marketing Agreement dated October 5, 2005 by and between Heron Lake BioEnergy, LLC and Commodity Specialist Company as assigned to CHS Inc. as of August 17, 2007 |   | Exhibit 10.13 of the Company's 2008 Registration Statement. |

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Table of Contents

|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.14         |  | Ethanol Fuel Marketing Agreement dated August 7, 2006 by and between RPGM, Inc. and Heron Lake BioEnergy, LLC |   | Exhibit 10.14 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.15         |  | Letter Agreement re: Environmental Compliance Support dated March 12, 2007 by and between Fagen Engineering, LLC Heron Lake BioEnergy, LLC |   | Exhibit 10. 15 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.16         |  | Coal Loading, Transport, and Delivery Agreement effective as of April 1, 2007 by and between Tersteeg Transport Inc. and Heron Lake BioEnergy, LLC |   | Exhibit 10.16 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.17         |  | Coal Transloading Agreement dated June 1, 2007 by and between Southern Minnesota Beet Sugar Cooperative and Heron Lake BioEnergy, LLC† |   | Exhibit 10.17 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.18         |  | Master Coal Purchase and Sale Agreement dated June 1, 2007 by and between Northern Coal Transport Company and Heron Lake BioEnergy, LLC, including confirmation letter dated July 13, 2007† |   | Exhibit 10.18 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.19         |  | Loan Agreement dated December 28, 2007 by and between Federated Rural Electric Association and Heron Lake BioEnergy, LLC |   | Exhibit 10.19 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.20         |  | Secured Promissory Note issued December 28, 2007 by Heron Lake BioEnergy, LLC as borrower to Federated Rural Electric Association as lender in principal amount of $600,000 |   | Exhibit 10.20 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.21         |  | Security Agreement dated December 28, 2007 by Heron Lake BioEnergy, LLC in favor of Federated Rural Electric Association |   | Exhibit 10.21 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.22         |  | Electric Service Agreement dated October 17, 2007 by and between Interstate Power and Light Company and Heron Lake BioEnergy, LLC |   | Exhibit 10.22 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.23         |  | Shared Savings Contract dated November 16, 2007 by and between Interstate Power and Light Company and Heron Lake BioEnergy, LLC |   | Exhibit 10.23 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.24         |  | Escrow Agreement dated November 16, 2007 by and between Heron Lake BioEnergy, LLC, Farmers State Bank of Hartland for the benefit of Interstate Power and Light Company |   | Exhibit 10.24 of the Company's 2008 Registration Statement. |

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Table of Contents

|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.25         |  | Employment Agreement dated February 1, 2008 by and between Heron Lake BioEnergy, LLC and Robert J. Ferguson* |   | Exhibit 10.25 of the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.26         |  | Compliance Agreement effective January 23, 2007 by and between Heron Lake BioEnergy, LLC and the Minnesota Pollution Control Agency |   | Exhibit 10.28 to Amendment No. 1 to the Company's 2008 Registration Statement. |
|          |   |   |   |
| 10.27         |  | Letter Agreement dated November 25, 2008 by and between Heron Lake BioEnergy, LLC, CFO Systems, LLC and Brett L. Frevert relating to the services of Brett L. Frevert* |   | Exhibit 10.1 to Current Report on Form 8-K dated November 26, 2008. |
|          |   |   |   |
| 10.28         |  | Ethanol Purchase and Marketing Agreement dated September 2, 2009 by and between Heron Lake BioEnergy, LLC and C&N Ethanol Marketing Corporation |   | Exhibit 10.1 to Current Report on Form 8-K dated September 2, 2009. |
|          |   |   |   |
| 10.29         |  | Amendment No. 4 to Fifth Supplement dated December 8, 2009 by and between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.32 to Annual Report on Form 10-K for the year ended October 31, 2009. |
|          |   |   |   |
| 10.30         |  | Amendment No. 5 to Fifth Supplement to the Master Loan Agreement dated March 25, 2010 by and between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.1 to Current Report on Form 8-K dated March 25, 2010 |
|          |   |   |   |
| 10.31         |  | Amendment No. 6 to Fifth Supplement to the Master Loan Agreement dated May 27, 2010 by and between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.2 to Current Report on Form 8-K dated March 25, 2010 |
|          |   |   |   |
| 10.32         |  | Amended and Restated Fifth Supplement dated as of July 2, 2010 to the Master Loan Agreement by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.1 to Current Report on Form 8-K dated July 2, 2010 |
|          |   |   |   |
| 10.33         |  | Second Amended and Restated Revolving Line of Credit Note dated July 2, 2010 in the maximum principal amount of $6,750,000 by Heron Lake BioEnergy, LLC as borrower to AgStar Financial Services, PCA as lender |   | Exhibit 10.2 to Current Report on Form 8-K dated July 2, 2010 |
|          |   |   |   |
| 10.34         |  | Forbearance Agreement dated July 2, 2010 by and between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.3 to Current Report on Form 8-K dated July 2, 2010 |

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|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.35         |  | Mutual Release and Settlement Agreement dated July 2, 2010 among Heron Lake BioEnergy, LLC, Fagen, Inc. and ICM, Inc.† |   | Exhibit 10.1 to Current Report on Form 8-K dated July 2, 2010 |
|          |   |   |   |
| 10.36         |  | Subscription Agreement dated July 2, 2010 by Heron Lake BioEnergy, LLC and Project Viking, L.L.C. |   | Exhibit 10.1 to Current Report on Form 8-K dated July 2, 2010 |
|          |   |   |   |
| 10.37         |  | First Amendment to Fifth Supplement to the Master Loan Agreement dated as of December 30, 2010 by and between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.1 to Current Report on Form 8-K dated December 30, 2010 |
|          |   |   |   |
| 10.38         |  | Third Amended and Restated Revolving Line of Credit Note dated December 30, 2010 in the maximum principal amount of $6,750,000 by Heron Lake BioEnergy, LLC as borrower to AgStar Financial Services, PCA as lender |   | Exhibit 10.2 to Current Report on Form 8-K dated December 30, 2010 |
|          |   |   |   |
| 10.39         |  | First Amendment to Forbearance Agreement dated December 30, 2010 by and between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.3 to Current Report on Form 8-K dated December 30, 2010 |
|          |   |   |   |
| 10.40         |  | Fifth Amended and Restated Master Loan Agreement dated to be effective as of September 1, 2011 between AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC† |   | Exhibit 10.40 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.41         |  | Amended and Restated Term Note dated September 1, 2011 in principal amount of $40,000,000 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.41 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.42         |  | Amended and Restated Term Revolving Note dated September 1, 2011 in principal amount of $8,008,689 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.42 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.43         |  | Fourth Amended and Restated Mortgage, Security Agreement and Assignment of Rents and Leases dated September 1, 2011 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.43 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.44         |  | Fifth Amended and Restated Guaranty dated September 1, 2011 by Lakefield Farmers Elevator, LLC in favor of AgStar Financial Services, PCA |   | Exhibit 10.44 to Annual Report on Form 10-K for the year ended October 31, 2011. |

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|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.45         |  | Amended and Restated Guaranty dated September 1, 2011 by HLBE Pipeline Company, LLC in favor of AgStar Financial Services, PCA |   | Exhibit 10.45 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.46         |  | Collateral Assignment dated September 1, 2011 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.46 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.47         |  | Collateral Assignment dated September 1, 2011 between Lakefield Farmers Elevator, LLC and AgStar Financial Services, PCA |   | Exhibit 10.47 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.48         |  | Corn Supply Agreement dated effective as of September 1, 2011 between Heron Lake BioEnergy, LLC and Gavilon, LLC† |   | Exhibit 10.48 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.49         |  | Ethanol and Distiller's Grains Marketing Agreement dated effective as of September 1, 2011 between Heron Lake BioEnergy, LLC and Gavilon, LLC† |   | Exhibit 10.49 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.50         |  | Master Netting, Setoff, Credit and Security Agreement dated effective as of September 1, 2011 between Heron Lake BioEnergy, LLC and Gavilon, LLC† |   | Exhibit 10.50 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.51         |  | Corn Storage Agreement dated effective as of September 1, 2011 between Lakefield Farmers Elevator, LLC, Heron Lake BioEnergy, LLC and Gavilon, LLC |   | Exhibit 10.51 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 10.52         |  | Amended and Restated Forbearance Agreement dated January 22, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.52 to Annual Report of Form 10-K for the year ended October 31, 2012. |
|          |   |   |   |
| 10.53         |  | Second Amended and Restated Forbearance Agreement dated February 12, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.1 to Current Report on Form 8-K dated February 12, 2013. |
|          |   |   |   |
| 10.54         |  | Asset Purchase Agreement dated January 3, 2013, by Heron Lake BioEnergy, LLC, as the sole member and owner of all of the outstanding membership interests of Lakefield Farmers Elevator, LLC, the Seller, and FCA Co-op, the Buyer |   | Exhibit 2.1 to Annual Report of Form 10-K for the year ended October 31, 2012. |
|          |   |   |   |
| 10.55         |  | Asset Purchase Agreement dated January 22, 2013, by and between Heron Lake BioEnergy, LLC and Guardian Energy Heron Lake, LLC |   | Exhibit 2.2 to Annual Report of Form 10-K for the year ended October 31, 2012. |
|          |   |   |   |
| 10.56         |  | Third Amended and Restated Forbearance Agreement dated March 29, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA † |   | Exhibit 10.1 to Current Report on Form 8-K dated March 29, 2013. |

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|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.57         |  | Fourth Amended and Restated Forbearance Agreement dated April 12, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA † |   | Exhibit 10.1 to Current Report on Form 8-K dated April 12, 2013. |
|          |   |   |   |
| 10.58         |  | Fifth Amended and Restated Forbearance Agreement dated May 10, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA † |   | Exhibit 10.1 to Current Report on Form 8-K dated May 10, 2013. |
|          |   |   |   |
| 10.59         |  | Sixth Amended and Restated Master Loan Agreement dated to be effective as of May 17, 2013 by and among AgStar Financial Services, PCA and Heron Lake BioEnergy, LLC |   | Exhibit 10.1 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.60         |  | Second Amended and Restated Term Note dated May 17, 2013 in principal amount of $17,404,344 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.2 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.61         |  | Second Amended and Restated Term Revolving Note dated May 17, 2013 in principal amount of $20,500,000 by Heron Lake BioEnergy, LLC to AgStar Financial Services, PCA as lender |   | Exhibit 10.3 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.62         |  | Sixth Amended and Restated Mortgage, Security Agreement and Assignment of Rents and Leases dated May 17, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.4 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.63         |  | Sixth Amended and Restated Guaranty dated May 17, 2013 by Lakefield Farmers Elevator, LLC in favor of AgStar Financial Services, PCA |   | Exhibit 10.5 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.64         |  | Second Amended and Restated Guaranty dated May 17, 2013 by HLBE Pipeline Company, LLC in favor of AgStar Financial Services, PCA |   | Exhibit 10.6 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.65         |  | Form of Subscription Agreement and Subordinated Loan Agreement dated May 17, 2013, by and among Heron Lake BioEnergy, LLC and initial subscribers of the 7.25% Subordinated Secured Notes due 2018 |   | Exhibit 10.7 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.66         |  | Form of Interim Subordinated Note dated May 17, 2013 by Heron Lake BioEnergy, LLC to initial subscribers of the 7.25% Subordinated Secured Notes due 2018 |   | Exhibit 10.8 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.67         |  | Subordination Agreement dated effective as of May 17, 2013 by and among AgStar Financial Services, PCA and David J. and Krista R. Woestehoff, Schmitz Grain, Inc., Doug Schmitz, Michael Kunerth and Dawn Kunerth, Robert J. and Jean M. Ferguson, and Project Viking, L.L.C. |   | Exhibit 10.9 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.68         |  | Subordinated Security Agreement dated May 17, 2013 by and between Heron Lake BioEnergy, LLC and the Collateral Agent for the benefit of David J. and Krista R. Woestehoff, Schmitz Grain, Inc., Doug Schmitz, Michael Kunerth and Dawn Kunerth, Robert J. and Jean M. Ferguson, and Project Viking, L.L.C. |   | Exhibit 10.10 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |

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|               |
|---------------|
|               |  |  |  |  |
| ExhibitNumber | Exhibit Title |   | Incorporated by Reference To: |
| 10.69         |  | Subordinated Mortgage dated May 17, 2013 between Heron Lake BioEnergy, LLC to David J. and Krista R. Woestehoff, Schmitz Grain, Inc., Doug Schmitz by Michael Kunerth and Dawn Kunerth, Robert J. and Jean M. Ferguson, and Project Viking, L.L.C. |   | Exhibit 10.11 to Quarterly Report on Form 10-Q for the quarter ended April 30, 2013. |
|          |   |   |   |
| 10.70         |  | Letter Agreement between CFO Systems, LLC and Heron Lake BioEnergy, LLC effective July 8, 2013* |   | Exhibit 10.1 to Current Report on Form 8-K dated July 5, 2013. |
|          |   |   |   |
| 10.71         |  | Amendment No. 1 to Sixth Amended and Restated Master Loan Agreement dated effective as of July 31, 2013 between Heron Lake BioEnergy, LLC and AgStar Financial Services, PCA |   | Exhibit 10.1 to Current Report on Form 8-K dated August 27, 2013. |
|          |   |   |   |
| 10.72         |  | Assignment and Amendment Agreement dated July 2, 2013 by and among Heron Lake BioEnergy, LLC, Gavilon, LLC and Gavilon Global Ag Holdings, LLC † |   | Exhibit 10.1 to Quarterly Report on Form 10-Q for the quarter ended July 31, 2013. |
|          |   |   |   |
| 10.73         |  | Subscription Agreement Including Investment Representations, dated July 31, 2013, by and between Heron Lake BioEnergy, LLC and Project Viking, L.L.C. |   | Exhibit 10.2 to Quarterly Report on Form 10-Q for the quarter ended July 31, 2013. |
|          |   |   |   |
| 10.74         |  | Subscription Supplement Agreement dated July 31, 2013, by and among Heron Lake BioEnergy, LLC, Granite Falls Energy, LLC and Project Viking, L.L.C. |   | Exhibit 10.3 to Quarterly Report on Form 10-Q for the quarter ended July 31, 2013. |
|          |   |   |   |
| 10.75         |  | Management Services Agreement effective as of July 31, 2013 between Granite Falls Energy, LLC and Heron Lake BioEnergy, LLC* |   | Exhibit 10.4 to Quarterly Report on Form 10-Q for the quarter ended July 31, 2013. |
|          |   |   |   |
| 10.76         |  | Corn Oil Marketing Agreement dated September 4, 2013 by and among Heron Lake BioEnergy, LLC and RPMG, Inc. † |   | Attached hereto. |
|          |   |   |   |
| 10.77         |  | Ethanol Marketing Agreement dated September 17, 2013 by and among Heron Lake BioEnergy, LLC and Eco-Energy, LLC † |   | Exhibit 10.77 to Annual Report on Form 10-K for the Year ended October 31, 2013. |
|          |   |   |   |
| 10.78         |  | Distiller's Grain Off-Take Agreement dated September 24, 2013 by and among Heron Lake Bio-Energy, LLC and Gavilon Ingredients, LLC † |   | Attached hereto. |
|          |   |   |   |
| 21.1          |  | Subsidiaries of the Registrant |   | Exhibit 21.1 to Annual Report on Form 10-K for the year ended October 31, 2011. |
|          |   |   |   |
| 31.1          |  | Certification of Chief Executive Officer (principal executive officer) pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange Act. |   | Attached hereto. |
|          |   |   |   |
| 31.2          |  | Certifications of Chief Financial Officer (principal financial officer) pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange Act. |   | Attached hereto. |

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Table of Contents

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|               |  |  |  |
| ExhibitNumber | Exhibit Title | Incorporated by Reference To: |
| 32            |  | Certification pursuant to 18 U.S.C. § 1350. | Exhibit 32 to Annual Report on Form 10-K for the Year ended October 31, 2013. |
|          |   |   |
| 101.1         |  | The following materials from Heron Lake BioEnergy, LLC's Annual Report on Form 10-K for the fiscal year ended October 31, 2013, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets as of October 31, 2013 and October 31, 2012, (ii) the Consolidated Statements of Operations for the fiscal years ended October 31, 2013, 2012, and 2011, (iii) the Consolidated Statements of Changes in Members' Equity, (iv) the Consolidated Statements of Cash Flows for the fiscal years ended October 31, 2013, 2012, and 2011, and (v) the Notes to Consolidated Financial Statements. |