Food and Energy Security through Sustainable BiotechnologyTM

Jefferies Global Industrials ConferenceAugust 11, 2014

Calysta Overview

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• Founded in May, 2011; Acquired BioProtein A/S in 2014

• Experienced management team

Alan Shaw, President & CEO Josh Silverman, CTO

Bill Rothwell, SVP Business Dev. Arild Johannessen, VP Nutrition

Graham Aylen, VP Capital Projects Lori Giver, VP Bioengineering

• Core IP and expertise in gas fermentation, bioengineering, and product development

Menlo Park, CA

Houston, TX

London, UK

Stavanger, NO

Singapore, SGR&D Site

Business Office

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Calysta’s biotechnology makes everyday consumer products sustainable

Methane is

Sustainable Renewable Fungible Scalable

Combination of Biotech Expertise and Loop Reactor Technology is Unparalleled

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• Leader in methanotroph genetic modification

• Exclusive licensee of DNA 2.0 BioGPS platform

• Team with decades of experience in industrial biotech

• Only loop reactor design validated at commercial scale

• Product of 10 years of R&D, engineering, and operations by Statoil and DuPont

• Applicable to any gaseous fermentation process

From methane to plastics

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NatureWorks converts lactic acid monomers to long polymer chains making a range of bioplastics

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Methanotrophs convert the gas into lactic acid through fermentation

It starts with Methane

Food Security Will Be the Issue of the Future

• By 2050, 9.6B people will demand 75% more protein than currently available

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0

20

40

60

80

100

East Asia Industrialized countries

Per Capita Protein Consumption (kg per year)

1997-1999 2030

55% growth

“Our research shows people will spend one-third of any increase in incomes on a more varied high-protein diet.”- Greg Page, CEO of Cargill

Source: UN World Population Prospects: The 2012 Revision.World agriculture: towards 2015/2030. Food and Agriculture Organization of the United Nations, 2002.World agriculture: towards 2030/2050. Food and Agriculture Organization of the United Nations, 2012.

Raising Animals Uses Huge Volumes of Feed

Aquaculture currently consumes over

30 million metric tons of feed

• Growth in aquaculture has been constrained by access to affordable, reliable sources of feed

• BioProtein lets you feed crops to people, not to fish

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Source:Salmon Farming Industry Handbook 2013.FAO State of World Fisheries and Aquaculture, 2012.Protein Sources for the Animal Feed Industry, 2002.

Fishmeal Supply Is Constrained by Global Catch Volumes

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0.0

2.0

4.0

6.0

8.0

1980 1984 1988 1992 1996 2000 2004 2008 2012

Mill

ion

s o

f To

ns

World Fishmeal Production

• Wild catch fisheries are at or above sustainable capacity

• Productivity is highly dependent on Pacific weather patterns

Source: Seafish.orgMarine Ingredients Organization Fishmeal and Fish Oil Statistical Yearbook, 2013

Source: World Bank Global Economic Monitor, 2014The 2013 Marine Harvest Salmon Industry HandbookUndercurrent News, Oct 2013.

Increased Demand is Driving Up the Price

• Demand for fishmeal continues to grow while supply is constrained by wild fish populations

• Feed is the single biggest cost in the of production of aquaculture, comprising 40-50% of total production costs for salmon

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“Our biggest challenge is how to meet this demand… where to find new raw materials”- Andrew Jackson, Technical Director, International Fishmeal & Fish Oil Org.

10 year CAGR: 7.5%

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$/M

T

Fishmeal Price

• Bacteria (methanotrophs) metabolize methane as their sole source of carbon and energy, producing a nutritious, high-protein biomass

BioProtein is a Premium, non-GMO Protein Feed

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• Approved for use in the EU– >10 years of safety data in salmon farming – Safety studies completed in pigs, chickens,

calves, rats, mink, and fox

• Analogous to yeast extract– No corn fiber residue: provides a

concentrated protein product

• Supplied dry as powder or pellets; shelf-life >12 months at ambient temperature

Synthetic Biology Platform Drives Calysta’s Multi-Product Roadmap

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Research DevelopmentPre-

CommercialMarket

Opportunity

BioProtein

Lactic Acid

Product #3

Product #4

Product #5

Product #6

$7 Bn

$1 Bn

$XX Bn

$XX Bn

$XX Bn

$XX Bn

Source: Marine Ingredients Organization Fishmeal and Fish Oil Statistical Yearbook, 2013. Grand View Research Lactic Acid and PLA Market Analysis by Application, May 2014.

Commercial Sales Date

2018

2019

2019

2020

2021

2022

Commercialization Path is Product Specific

• Licensing model for chemical products

– Partner companies commercialize technology and pay Calysta royalties and exclusivity fees

– Capital-light business model

– Calysta avoids pilot plant costs and downstream processing R&D

• Build, own, and operate nutrition plant

– Proven fermenter design is shovel-ready

– 80,000 metric ton per year design

– Market Introduction Facility (MIF) planned to accelerate getting product to customers

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Current Company Priorities

• Raising equity capital from new and existing investors

• Site selection and construction of Market Introduction Facility

• Sign customer off-take agreements for BioProtein commercial plant

• Begin planning and development of commercial BioProtein plant

• Continue to deliver on existing Joint Development Agreements

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Summary• World-leading biology platform with strong patent portfolio

• World’s only commercially validated gas fermentation platform

• Clear path to commercialization with validated product and markets

• Experienced management team with successful track record

Building a sustainable platform to food, fuels, and chemicals from an abundant resource that does not compete with the human food chain

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Food and Energy Security through Sustainable BiotechnologyTM

Jefferies Global Industrials ConferenceAugust 11, 2014