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Company Overview for BIO Montreal

July 22, 2015

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Rennovia – Company Overview

Founded in 2009

5 AM, Versant, ADM equity investors

HQ in Santa Clara, CA, USA

Currently ~40 employees

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Advantaged Economics + Drop-in Products + Sustainability

Scalable Feedstocks

Leverages existing, efficient glucose supply chain

Rennovia catalyst technologycompatible with emerging cellulosic sugar sources

Rennovia’s feedstock is glucose, earth’s most abundant sugar

Chemical Process Technology

Employs proven, scalableunit operations

Focused on delivering fundamental cost-advantagevs incumbent petro processes

Rennovia’s conversion platform is based on chemical catalysis

Rennovia – Breakthrough Approach to Bio-Based Chemicals

Existing Market Chemicals

Products address C6 and C4

petrochemical value chains

Drop-in products targeting major high value chemicals

C6 products from C6 feedstock

Hexamethylenediamine

Hexanediol

Adipic Acid

Bio-Based Chemicals Process Development and Commercialization

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High-throughput catalyst discovery infrastructure employed to identify and develop fundamental catalysts and process

- World-class catalyst discovery infrastructure and team

Process development and pilot-scale operation at Rennovia- Leverage external resources for select unit op development

- Work with commercial catalyst vendors to scale up proprietary catalyst formulations

Partnerships for mini-plant demonstration and commercialization

Rennovia Bio-Based Chemicals Platform

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Glucaric AcidEmerging Market

Opportunities

Adipic Acid2750 Kta*

>$6.5 B market

1,6-Hexanediol

>150 Kta*>$700 M market

Hexamethylenediamine

>1500 Kta*>$6 B market

RenewableFeedstocks

*Source: PCI

+ pipeline products

Dominant petrochemical process via cyclohexane

H2 O2 HNO3+ N2O

Benzene Cyclohexane KA Oil

+

Adipic Acid Nitrous Oxide

Rennovia bio-based adipic acid process:

1. Aerobic oxidation of glucose glucaric acid

2. Hydro-deoxygenation of glucaric acid adipic acid

2 heterogeneouscatalyst process steps:

air

catalyst

H2

catalyst

Glucose Glucaric Acid Adipic Acid Water

+ H2O

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Adipic Acid Processes – Petrochemical vs Rennovia Bio-Based

Rennovia - Johnson Matthey Bio-Based Adipic Acid Partnership

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innovative catalysts and processes

for bio-based chemicals

advanced process technologies advanced catalyst technologies

Disruptive technology package for

bio-based adipic acid production

Rennovia – JM DavyJDA to develop AA technology for license, including process and catalyst lifetime guarantees

Rennovia - JM CatalystsJM Catalysts to supply Rennoviaproprietary GA/AA catalysts at commercial scale

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Lower Fundamental

Cost of Production*

Total Variable Cost

Manufacturing Cost

Depreciation

RennoviaPetro

Significant Cost Advantage

Over the Business Cycle

Rennovia

Margin

Advantage

Cost-Advantaged Adipic Acid Production

Petro cost

Rennovia cost

Cost-Advantaged Zone

*At 2005-2015 average feedstock costs

Dominant petrochemical process via butadiene hydrocyanation

HCN H2

Butadiene Adiponitrile Hexamethylenediamine (HMD)

Rennovia bio-based hexamethylenediamine process:

Glucose HMD

NH3

Catalyst

1. Hydro-deoxygenation for 1,6-HDO production

2. Amination of 1,6-HDO HMD

Heterogeneouscatalyst-based process

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HMD Processes – Petrochemical vs Rennovia Bio-Based

1,6-Hexanediol

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Lower Fundamental

Cost of Production*

Total Variable Cost

Manufacturing Cost

Depreciation

RennoviaPetro

Significant Cost Advantage

Over the Business Cycle

Cost-Advantaged Hexamethylenediamine Production

Petro cost

Rennovia cost

Cost-Advantaged Zone

*At 2005-2015 average feedstock costs

Petro Rennovia

Depreciation

Manufacturing

Total Variable

Partnership Opportunities Across Bio-Based Chemicals Value Chain

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Partnerships Across Value ChainEquity investment by ADM – key feedstock supplier

Strategic partnership with Johnson Matthey

• Joint development and licensing of bio-based adipic acid technology with JM Davy

• Catalyst scale-up and commercial supply with JM Chemcat

In negotiations with multiple potential partners for scale up of HDO/HMD products

In partnership discussions around Rennovia pipeline product opportunities