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Facility Increases from $20 Million to $30 Million with a $5 Million Accordion Feature

Pacific Ethanol, Inc. (NASDAQ: PEIX), the leading
marketer and producer of low-carbon renewable fuels in the Western United States, announced
today that it has filed an amendment to its Certificate of Incorporation to effect a one-for-seven
reverse stock split of its issued and outstanding shares of common stock. The reverse stock split
will be effective as to stockholders of record at 12:01 a.m. Eastern Time on Wednesday, June 8,
2011. Trading of the Company’s common stock on a split-adjusted basis is expected to begin at
the open of trading on June 8, 2011.

Pacific Ethanol Inc. President and CEO Neil Koehler will participate in a panel discussion titled, “Biofuels: Convergence of Biotech & Energy,” at the Lazard Capital Markets Third Annual Alternative Energy Investor Summit at the Mandarin Oriental Hotel in New York City. on Thursday, June 2,
2011 at 3:45 p.m. ET.

Neil Koehler, the company’s president and CEO, stated: “In the first quarter of 2011, we built on
the strong foundation established in 2010 as we narrowed our loss from $11.7 million in the first
quarter of 2010 to near breakeven this quarter, despite a challenging margin environment.

Pacific Ethanol, Inc. (NASDAQ: PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced today that it is scheduled to present at the Stephens Spring Investment Conference to be held at the New York Palace Hotel in New York City.

Pacific Ethanol, Inc. (NASDAQ: PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced today that it intends to release its first quarter 2011 financial results after the market closes on Wednesday, May 11, 2011. Management will host a conference call at 8:00 a.m. Pacific Time / 11:00 a.m. Eastern Time on Thursday, May 12, 2011. Neil Koehler, Chief Executive Officer, and Bryon McGregor, Chief Financial Officer, will deliver prepared remarks and conduct a slide presentation via webcast followed by a question and answer session.

Click here to listen to the webcast.

Pacific Ethanol, Inc., the leading West Coast marketer and producer of low-carbon renewable fuels, reported its financial results for the quarter and year ended December 31, 2010.

Pacific Ethanol, Inc. intends to release its fourth quarter and year end 2010 financial results post-market on Monday, March 28, 2011. Management will host a conference call at 8:00 a.m. PT/11:00 a.m. ET on Tuesday, March 29, 2011.