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                 IMPORTANT: PLEASE READ CAREFULLY BEFORE SIGNING
                SIGNIFICANT REPRESENTATIONS ARE CALLED FOR HEREIN

                             SUBSCRIPTION AGREEMENT
                                       AND
                           LETTER OF INVESTMENT INTENT

Western Plains Energy, L.L.C.
P.O. Box 474
Hoxie, KS 67740

Gentlemen:

The undersigned hereby tenders its subscription and applies for the purchase of
_____ Class D capital units (the "Units") of Western Plains Energy, L.L.C., a
Kansas limited liability company (the "Company"), for a purchase price of $5,000
per Unit for a total purchase price of $________. By execution below, the
undersigned acknowledges that the Company is relying upon the accuracy and
completeness of the representations contained herein in complying with its
obligations under applicable securities laws.

         The undersigned acknowledges and represents as follows:

         (a) That the undersigned has received, carefully reviewed, and is
familiar with the Company's Articles of Organization, proposed Operating
Agreement, the Company's business plan and the Feasibility Study conducted by
Val-Add Service Corporation (collectively, the "Information").

         (b) That the undersigned, in connection with the signing of this
Subscription Agreement and Letter of Investment Intent, agrees to become a
member of the Company by signing the Counterpart Signature Page to the Company's
Operating Agreement and to be governed by the provisions of the Company's
Articles of Organization and Operating Agreement.

         (c) The undersigned represents and warrants that he is a bona fide
resident of, and is domiciled in, the State of __________, and that the Units
are being purchased by him in his name solely for his own beneficial interest
and not as nominee for, or on behalf of, or for the beneficial interest of, or
with the intention to transfer to, any other person, trust or organization.

         (d) That the undersigned has substantial experience in evaluating and
investing in private placement transactions of securities in companies similar
to the Company, so that it is capable of reading and interpreting the
Information and evaluating the merits and risks of his investment in the
Company, and he has the capacity to protect his own business and financial
interests.

         (e) That by reason of his business or financial experience, the
undersigned has the capacity to protect his interests in connection with his
purchase of the Units.

         (f) That the undersigned has been given access to full and complete
information regarding the Company and has utilized such access to his
satisfaction for the purpose of obtaining information in addition to, or
verifying information included in, the Information, and that the undersigned has
either met with or been given reasonable opportunity to meet officers of the

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Company for the purpose of asking questions of, and receiving answers from, such
officers concerning the terms and conditions of the offering of the Units and
the proposed business and operations of the Company and to obtain any additional
information, to the extent reasonably available.

         (g) That the undersigned acknowledges that he has made his own
investigation of the Company, its business, personnel and prospects; has had an
opportunity to discuss the Company's business, management and financial affairs
with managers, officers, and management of the Company; and has had the
opportunity to review the Company's operations and facilities to its
satisfaction.

         (h) That the undersigned has obtained, to the extent the undersigned
deems necessary, personal professional advice with respect to the risks inherent
in an investment in the Company, the suitability of the investment in light of
the undersigned's financial condition and investment needs, and legal, tax and
accounting matters.

         (i) That the undersigned recognizes that an investment in the Company
involves a high degree of risk and speculation; that the purchase of the Units
is a long-term investment; that transferability and sale of the Units is
restricted and that in the event of disposition of the Units the undersigned
could sustain a partial or complete loss, either from an economic standpoint or
as a result of income tax obligations or both.

         (j) That the undersigned believes that the investment in the Units is
suitable for him based upon his investment objectives and financial needs, and
the undersigned has adequate means for providing for his current financial needs
and contingencies and has no need for liquidity of investment with respect to
the Units.

         (k) That the undersigned recognizes that an investment in the Units is
highly speculative, and involves a high degree of risk including, but not
limited to, the risk of economic losses from operations of the Company and the
total loss of its investment.

         (l) That the undersigned recognizes that any financial projections,
forecasts, assumptions or estimates included in or referred to in the
Information or otherwise delivered or communicated to the undersigned are not
statements of fact and that no representation or warranties are made, by the
Company or any officer, director, shareholder, employee or agent thereof, with
respect to the accuracy of such projections, forecasts, assumptions or estimates
or with respect to the future operations or the amount of any future income or
loss of the Company.

         (m) That:

                  (1) the operating results, predictions, estimates and
         projections, if any, contained in the Company's business plan are for
         illustrative purposes only and are based upon certain assumptions and
         events over which the Company has only partial or no control;

                  (2) variations in such assumptions, including, but not limited
         to, sales, costs, selling expenses, general and administrative
         expenses, development expenses, consumer acceptance and competitive
         developments could significantly affect such projections and forecasts;

                  (3) to the extent that assumed events do not materialize, the
         outcome will vary substantially from that projected or forecasted; and

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                  (4) there are a number of other factors and risks which could
         cause actual results to be substantially less than projected.

         (n) That the undersigned realizes that (1) the purchase of the Units is
a long-term investment, (2) the purchasers of the Units must bear the economic
risk of investment in the Units for an indefinite period of time because the
Units have not been registered under the Securities Act of 1933, as amended (the
"Act"), and, therefore, cannot be sold unless they are subsequently registered
under the Act or an exemption from such registration is available, and (3) the
transferability of the Units is restricted and (A) requires conformity with the
restrictions contained in paragraph (o) below, and (B) will be further
restricted by a legend placed on the certificates representing the Units stating
that they have not been registered under the Act and referencing the
restrictions on transferability.

         (o) The undersigned has been advised that the Units are not being
registered under the Act or relevant state securities laws but are being offered
and sold pursuant to exemptions from such laws and that the Company's reliance
upon such exemptions is predicated in part on the undersigned's representations
as contained herein. The undersigned represents and warrants that the Units are
being purchased for his own account and for investment and without the intention
of reselling or redistributing the same, that he has made no agreement with
others regarding any of the Units and that his financial condition is such that
it is not likely that it will be necessary to dispose of any of the Units in the
foreseeable future. The undersigned is aware that, in the view of the U.S.
Securities and Exchange Commission, a purchase of securities with an intent to
resell any of the same by reason of any foreseeable specific contingency or
anticipated change in market value, or any change in the condition of the
Company, or in connection with a contemplated liquidation or settlement of any
loan obtained for the acquisition of the Units and for which the Units were
pledged as security, would represent an intent inconsistent with the
representations set forth above. The undersigned further represents and agrees
that if, contrary to its foregoing intentions, he should later desire to dispose
of or transfer any of the Units in any manner, he shall not do so or attempt to
do so without complying with the restrictions on transferability of the Units
contained in the Company's Operating Agreement.

         (p) That the undersigned recognizes that the proceeds raised from the
sale of the Units will be used to pay for various start-up costs or expenses
associated with the Company and the proposed ethanol plant.

         (q) That the undersigned recognizes that there is no guarantee that the
Company will be successful in the construction, development and operation of the
proposed ethanol plant.

         (r) The undersigned acknowledges that the Company may experience
significant losses during its existence, that there is no guarantee the Company
will be profitable or that the undersigned will receive any distributions in the
foreseeable future from the Company, if ever.

         (s) The undersigned acknowledges that, once executed, its Subscription
Agreement and Letter of Investment Intent is an irrevocable, binding commitment
to purchase the Units.

         The warranties, representations, and agreements of the undersigned are
continuing in nature and shall survive the acceptance of this Subscription
Agreement Letter of Investment Intent and the issuance of the Units.

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SPECIAL INSTRUCTIONS FOR PARTNERSHIP, TRUST, CORPORATION, AND LIMITED LIABILITY
COMPANY INVESTORS

         Each investor which is a partnership must deliver a complete copy of
its partnership agreement. Each investor which is a trust must deliver (i) a
complete copy of its trust agreement. Each investor which is a corporation must
deliver (i) a copy of the Articles of Incorporation of the investor, (ii) a copy
of its Bylaws, and (iii) a Board Resolution or Certificate setting forth the
authority of the corporation to invest and setting forth the authority of the
corporate officer signing on behalf of the corporation. Each investor which is a
limited liability company must deliver (i) a copy of the Articles of
Organization of the investor, (ii) a copy of its Operating Agreement, Member
Control Agreement or similar document and (iii) a Manager's Resolution or
Certificate setting forth the authority of the limited liability company to
invest, and setting forth the authority of the manager signing on behalf of the
limited liability company.

         This Subscription Agreement and Letter of Investment Intent shall be
binding upon the undersigned and the Company's respective heirs, legal
representatives, successors and permitted assigns.

Dated: __________, 2001

(Signature for Corporate, Partnership,    (Signature for Individual Investors)
Trust or other Entity Investor)

---------------------------------         ---------------------------------
(Print Name of Entity)                    (Signature)

By:                                       Print Name:
   ------------------------------                    ----------------------
  (Signature)

Print Name:
           ----------------------         ---------------------------------
                                          (Signature of Joint Investor)

Title:                                    Print Name of Joint Investor (if any):
      ---------------------------
                                          ---------------------------------

DATED:__________________, 2001

---------------------------------         ---------------------------------
Signature                                 Signature

---------------------------------         ---------------------------------
Name Typed or Printed                     Name Typed or Printed

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                                   ACCEPTANCE

         The Company hereby accepts the foregoing Subscription Agreement and
Letter of Investment Intent as of the date above indicated.

                                              WESTERN PLAINS ENERGY, L.L.C.

Date:                                         By
      -------------------------                  -------------------------------
                                                 Its
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                                ESCROW AGREEMENT

         This Escrow Agreement is made this 30 day of November, 2001, by and
between Western Plains Energy, L.L.C., a Kansas limited liability company
("Western Plains Energy"), and First National Bank Trust Department of Goodland,
a nationally chartered banking corporation, with an office located in Goodland,
Kansas ("Escrow Agent").

                                R E C I T A L S:

         A. Western Plains Energy was formed for the purpose of investing funds
in an ethanol plant to be located in Gove County, Kansas.

         B. Western Plains Energy intends to sell Class A and B capital units in
accordance with the terms and conditions of a Prospectus.

         C. Pursuant to the terms and conditions of the Prospectus, Western
Plains Energy has committed to escrow the proceeds of the Class A and B capital
units sold to investors.

         D. First National Bank Trust Department of Goodland is willing to hold
the escrow account and serve as Escrow Agent, in accordance with the terms and
conditions provided in this Escrow Agreement.

         NOW, THEREFORE, the parties agree as follows:

         1. ESTABLISHMENT OF ESCROW ACCOUNT. Western Plains Energy shall open
and maintain an escrow account with Escrow Agent. The escrow account shall be an
interest bearing account, and shall earn interest at the rate offered from time
to time by Escrow Agent.

         2. ESCROW ACCOUNT AUTHORIZATIONS. Only officers of the Escrow Agent
shall be entitled to withdraw funds from the escrow account as provided herein.
Western Plains Energy shall deliver to Escrow Agent for deposit in the escrow
account all funds checks, bank money orders, etc., received by Western Plains
Energy from the sale of Class A and B capital units. All checks, bank money
orders, etc. shall be made payable to "Western Plains Energy Escrow Account."
Western Plains Energy shall deliver to Escrow Agent with each investor's funds,
the investor's name, address and amount of investment. Escrow Agent shall
maintain this information in its records for the purpose of returning to each
investor the investor's funds in the event that the minimum equity offering of
$15,735,000.00 is not subscribed by March 31, 2003, as provided in Paragraph 4
of this Agreement.

         3. INVESTMENT OF DEPOSITED FUNDS. The Escrow Agent shall invest all
funds received and deposited in the Escrow Account in (i) United States
government securities; (ii) United States government agency securities; or (iii)
certificates of deposit issued by banks or savings institutions whose deposits
are insured by the Federal Deposit Insurance Corporation. Any investment of
deposited funds must be made in recognition that offering proceeds must be able
to be transmitted promptly to Western Plains Energy or the investors if the
stated condition are met. The following securities are not permissible as
investments: (1) money market funds; (2)

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corporate equity or debt securities; (3) repurchase agreements; (4) bankers
acceptance; (5) commercial paper; and (6) municipal securities.

         4. WITHDRAWALS FROM ESCROW ACCOUNT. Western Plains Energy shall not
withdraw funds from the Escrow Account for use by Western Plains Energy prior to
the time that the following conditions are met (the "Release Conditions"): (a)
Western Plains Energy closes the offering and has obtained signed Subscription
Agreements for sales of Class A and B capital units totaling at least
$15,735,000.00; (b) Western Plains Energy has obtained a commitment letter for
financing construction and operation of the ethanol plant; and (c) there shall
not be any legal orders prohibiting the offering, or orders from the United
States Securities and Exchange Commission revoking the effectiveness of the
Registration Statement related to the offering.

         5. TERMINATION OF ESCROW ACCOUNT. At such time as Western Plains Energy
has met the Release Conditions, which shall be completed by March 31, 2003,
Western Plains Energy's Board of Managers shall adopt a resolution instructing
the Escrow Agent to terminate the Escrow Account and transfer all funds to other
accounts maintained by Western Plains Energy. In the event that Western Plains
Energy has not met the Release Conditions by March 31, 2003, then Western Plains
Energy shall instruct the Escrow Agent to return to the investors all funds from
the sale of Class A and B capital units held in the Escrow Account. Escrow Agent
shall return to Western Plains Energy all interest earned on funds deposited in
the Escrow Account, less any fees and expenses owed Escrow Agent by Western
Plains Energy hereunder.

         6. ESCROW AGENT'S RELIANCE. Escrow Agent shall be under no duty or
responsibility to make any inquiry or investigation as to the accuracy,
adequacy, and shall be entitled to assume conclusively, correctness and
completeness of any and all information given in any affidavit, statement, or
other paper received by Escrow Agent under this Escrow Agreement, including, but
not limited to the Prospectus. Escrow Agent shall be entitled to rely upon any
notice, request, affidavit, approval, statement, consent or other paper believed
by Escrow Agent to be genuine and to have been signed by the proper party or
parties.

         7. HOLD HARMLESS. Escrow Agent shall not be liable to Western Plains
Energy and/or any investor for any error of judgment, or for any act done or
step taken or omitted by it in good faith, or for any mistake of fact or law, or
for anything which it may do or refrain from doing in connection herewith,
excepting only its own intentional and deliberate misconduct.

         8. INDEMNIFICATION. Western Plains Energy agrees to defend, indemnify
and hold Escrow Agent harmless from and against any and all claims, actions,
judgments, losses, liabilities, obligations, damages, charges, costs, and
expenses of any nature whatsoever, including, without limitation, reasonable
attorneys' fees and expenses incurred by Escrow Agent (including such fees and
expenses incurred in any litigation by or against any of the parties to this
Escrow Agreement under this paragraph 8), arising directly or indirectly from,
out of or incident to this Escrow Agreement, excepting only those accruing as a
result of Escrow Agent's own intentional and deliberate misconduct.

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         9. ESCROW AGENT'S FEES. Escrow Agent shall be entitled to charge
Western Plains Energy a fee for providing services hereunder in accordance with
the terms of Exhibit A attached hereto and incorporated herein by reference.

         10. TIME. Time is of the essence of this Agreement.

         11. APPLICABLE LAW. The interpretation and enforcement of this
Agreement shall be governed by the laws of the State of Kansas.

         12. BINDING EFFECT. This Agreement shall be binding upon the parties
and their respective successors and assigns.

         IN WITNESS WHEREOF, the parties have hereunto signed this Agreement.

WESTERN PLAINS ENERGY, LLC                   FIRST NATIONAL BANK TRUST
                                             DEPARTMENT OF GOODLAND

By /s/ Dick Sterrett                         By /s/ Jerry Fairbanks
   ----------------------------                 -----------------------------
   Its  CFO                                      Its  Senior Trust Officer
       ------------------------                      ------------------------

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                                    EXHIBIT A

                                  Fee Agreement

1.       The Escrow Agent shall be paid an initial set up fee of $150.00 and an
annual fee of $25.00.

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