Amyris, Inc. INVESTOR PRESENTATION September 2020 Investor - - PowerPoint PPT Presentation

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Amyris, Inc. INVESTOR PRESENTATION September 2020 Investor - - PowerPoint PPT Presentation

Amyris, Inc. INVESTOR PRESENTATION September 2020 Investor Presentation | September 2020 FORWARD LOOKING STATEMENT This presentation and oral statements accompanying this presentation contain forward-looking statements, and any statements other


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Amyris, Inc.

INVESTOR PRESENTATION September 2020

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FORWARD LOOKING STATEMENT

This presentation and oral statements accompanying this presentation contain forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as expected revenue, including revenues from consumer, ingredients, collaboration & grants, recurring revenue, EBITDA, gross profit, gross margin and operating expenses in 2020, including related growth rates, anticipated growth for Amyris’s businesses, expected debt reduction in 2020, and expectations regarding Amyris’s financial and operational results and ability to achieve its business plan in 2020 and beyond. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris’s liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in development, production or commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise. NON-GAAP FINANCIAL INFORMATION This presentation and oral statements accompanying this presentation contain both GAAP and non-GAAP financial information. Amyris considers non-GAAP financial information to be a helpful measure to assess its operational performance and for financial and operational decision-making.

Totals in this presentation may not foot due to rounding.

Investor Presentation | September 2020

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About Amyris

  • Leading synthetic biology portfolio of platform

molecules driving speed to market and enabling deep strategic partnerships

  • ESG-driven high growth Clean Beauty consumer

brands disrupting the beauty space

  • Proprietary functional ingredients for flavors and

fragrance, and health and wellness end-markets

56%

2019 GROSS MARGIN (NON-GAAP)

Strong growth prospects driven by consumer megatrends and underpinned by proprietary science

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64 153

$0 $20 $40 $60 $80 $100 $120 $140 $160 $180

FY 2018 FY 2019

FY 2018-2019 Sales

+140%

($ in millions)

Investor Presentation | September 2020

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Experienced Leadership Team and Board of Directors

Leadership Team Board of Directors

Geoffrey Duyk M.D., Ph.D Partner, Circularis Partners Philip Eykerman EVP, Corp Strategy & Acquisitions, DSM Christoph Goppelsroeder President and CEO, DSM Nutritional products

  • Dr. Frank Kung

Founding Member, Vivo Capital James McCann Founder and Chairman, 1-800-FLOWERS.COM John Melo President & CEO, Amyris Steve Mills Former CFO, ADM and Amyris Carole Piwnica Director, Sanofi/ Director, Rothschild / Chairman, Arianna S.A. Lisa Qi Director, Daling Family/GM YSL China Julie Spencer Washington Chief Marketing & Communications Officer, Trinity Health Patrick Yang Ph.D. EVP, Juno Therapeutics/SVP Operations Roche/EVP Operations Genentech

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Daya Fields President, Pipette & Purecane

H.C. Wainwright Investor Conference | September 14, 2020

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Amyris’ Technology Accelerating Industry Disruption

Beauty (Skin Care + Baby) Flavors & Fragrance Alternative Sweeteners

200 48 $Billion

Addressable Market

Key Technical Metrics Molecules commercialized per year ~2-4 Number of PhD’s ~85 Number of US and foreign patents issued and applications pending 871 Molecules Manufactured 10 Pipeline of molecules in development 17

9

Growth markets that are accelerated by Consumers push for Health, Clean and Sustainable

  • Clean Beauty to become the

standard in beauty

  • Natural flavors and fragrances is the

clear direction

  • Alternative sweetener with great

taste and mouthfeel is a winner

Page 5 From First Strain to First Pilot Run (2012-2019)

Investor Presentation | September 2020

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Serving Attractive Growth Markets

1 Based on preliminary unaudited Q1 2020 performance 2 BiossanceTM, PipetteTM, PurecaneTM 3 Flavors and Fragrance, Natural Sweeteners, Personal and Home Care

Sales by Geography

Consumer & Ingredients Collaboration & Grants

76% 24% Sales1

Consumer2 36% Ingredients3 40%

North America EU and UK Asia Latin America

47% 19% 28%

6%

Sales by Category Sales by End Markets

Clean Skin Care Health Flavors Perfumes Personal and Home Care

39% 24% 29%

4% 4%

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Sales1 Sales1

Investor Presentation | September 2020

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World’s leading synthetic biology platform The world’s leading synthetic biology platform. Nine commercialized products delivering the most profitable and fastest growing revenue in synthetic biology High growth Clean Beauty consumer brands Our Biossance & Pipette Clean Skin Care brands are the fastest growing in North America – 2019 Revenue of $17m growing >300% YOY Clean and safe ingredients are more important than ever before Our growth is accelerating through COVID-19. Consumers are transitioning to clean and safe ingredients faster than ever and we are a leading supplier with advantaged technology

Synthetic Biology Driving Growth in Sustainable and Clean Brands

Proprietary functional ingredients Our ingredients are inside over $10B of consumer purchases sold through 3,000+

  • f the world’s leading brands – 2019 Revenue of $48M growing >80% YOY

The #1 Supplier of Clean, Sustainable ingredients to Leading Brands Owner of the Leading Clean Health and Beauty Brands in North America

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Investor Presentation | September 2020

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We have defined the Gold Standard for Clean Chemistry

  • Product application design at industrial scale delivered in <12 months
  • Full cycle clean fermentation produces sustainable molecules at scale
  • Fast time to market at low cost. One new yeast strain every 2.5 minutes
  • Robotics, automation and machine learning are powering genetic coding.

Iteration cycles measured in minutes rather than weeks

Fast Time-to-Market Product Design With End Solution in Mind

Industrialized Synthetic Biology delivery in 12 months

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Dedicated pipeline: Automated Scientist and state-of-the-art robotics

Investor Presentation | September 2020

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Platform Molecules Connected Through Market Leaders

  • Farnesene
  • Patchouli
  • Squalane
  • Sclareol
  • Manool
  • Bisabolol
  • Fragrance 5*
  • Flavor 1*
  • Reb M

We Partner with Market Leaders Owned Brands set the Standard for Consumers #1 Producer of Clean Ingredients

  • Amazon
  • Amore Pacific
  • ASR
  • buybuy BABY
  • DARPA
  • DOE
  • Estee Lauder
  • Firmenich
  • Gates Foundation
  • Givaudan
  • L’Oreal
  • Nikko
  • DSM
  • Sanofi
  • Sephora
  • Takasago
  • Target
  • Walmart
  • Yifan
  • Shisheido

The #1 Supplier of Natural and Sustainably sourced Platform Molecules The #1 Supplier of Natural and Sustainably sourced Platform Molecules

  • HMO
  • Vitamins
  • Cannabinoids

EXISTING PIPELINE

*Confidential products **Recurring revenue includes all revenue that has a multiyear contract and revenue from our consumer brands Page 9

On track for third consecutive year of doubling recurring revenue**

Investor Presentation | September 2020

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Our Strategic Priorities

1

High growth consumer brands

2

Scientific and commercial collaboration

3

Supply chain optimization

4

Improved balance sheet, earnings and cash flow

  • Build on our Clean Beauty market leadership and double sales YOY
  • Extend offering of clean and safe ingredients and product

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  • Execute on R&D collaboration programs to scale 3-4 new molecules yearly
  • Establish market leadership in sustainable Health and Wellness markets
  • Deliver lower unit costs targeting gross margins >60% of sales
  • Drive agile and robust supply network to support sales growth
  • Reduced balance sheet leverage. Be fully funded to deliver growth
  • Deliver on path to sustained cash generation from operational

performance

Driving a multi-faceted agenda to deliver value for consumers, partners and shareholders

Investor Presentation | September 2020

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2020

BIOSSANCE IS LEADING THE WAY

Return on Advertising Spend: Q3 2019: $3.76 Q4 2019: $5.43 Q1 2020: $9.20

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Investor Presentation | September 2020

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FOUNDER We originate from… SOURCE We source from… IDENTITY We are… PERSONALITY We act… PRODUCT We make…

BERKELEY BIOTECHNOLOGY BRAZILIAN SUGARCANE APPROACHABLE SCIENCE SELFLESS EDUCATION CLEAN-ICAL

(Equally clinical & clean)

Biossance Brand: DNA Pillars

Investor Presentation | September 2020

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BIOSSANCE SAVES OVER 2M SHARKS A YEAR

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1

Clean Academy Leader in Clean Beauty education

2

City Takeover 360 Takeovers, including NYC and LA

3

Become the most loyal brand With the most passionate followers

4

Digital Leadership Best in class experience, engagement and platforms

Biossance Brand Key Initiatives

SQUALANE

NATURE’S BEST MOISTURIZER

Investor Presentation | September 2020

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15 26 40 62 97 127 154 194 222 237 250 299

2017-Q1 2017-Q2 2017-Q3 2017-Q4 2018-Q1 2018-Q2 2018-Q3 2018-Q4 2019-Q1 2019-Q2 2019-Q3 2019-Q4

2017-2019 CAGR = ~350%

TOTAL # OF BIOSSANCE.COM CUSTOMERS (000’s)

Biossance Key Growth Drivers

Dec 2018 = 104% June 2019 = 141% Dec 2019 = 135% Jan 2020 = 205%

2019 YE: in all 460 Sephora NA stores 2020: will participate in Sephora NA’s 100 new store openings

SALES

Sephora Monthly Productivity*

*Sephora Productivity is how Biossance performs compared to its peers in revenue per square foot per month

113 130 240 297 296 255

2017 2019YE 2018

EC (17 SKUs) Wall (6SKUs)

DOORS

Sephora End Caps produces 2-2.5X more retail revenue

Biossance: Traction Across Multiple Channels, In-Store and Online

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Investor Presentation | September 2020

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Launched September 4, 2019

Retail Channel Distribution

  • EWG Verified™
  • Leaping Bunny Approved
  • Dermatologist tested
  • Pediatrician approved
  • Hypoallergenic
  • Nontoxic
  • Vegan
  • Synthetic fragrance-free

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Investor Presentation | May 2020

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Leading “Clean” Brand Leading “Conventional” Brand

EWG Verified Dermatologist Tested Pediatrician Approved Hypoallergenic Vegan Tear Free Sulfate Free PEG Free Mineral Oil/Petrolatum Free Synthetic Fragrance Free Silicone Free

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Pipette Truly Delivers on Clean Compared To Leading Brands

Investor Presentation | September 2020

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Pipette Has A Full Offering For Baby, Mom And The Entire Family

Brought new Pipette branded hand sanitizer to market in April in 10 days Brought new Pipette branded hand sanitizer to market in April in 10 days

Investor Presentation | September 2020

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COVID-19

  • Our first priority is the safety and health of our people, our partners and our communities
  • To-date limited impact on demand and our ability to supply
  • We are classified as an essential business thus allowed to continue operations
  • Consumer brands continued growth trajectory. Our ingredients are formulated in household

cleaning and personal care products

  • Consumer focus on cleaning and sustainable ingredients due to COVID-19 driving strong performance
  • Lower Clean Beauty sales due to Sephora store closures largely offset by increased ecommerce sales. Consumer

has shifted to internet purchasing

  • Introduced new Pipette branded hand sanitizer in April

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Investor Presentation | September 2020

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Q2 Financial Highlights

  • Recurring Revenue well up versus prior year quarter
  • Q2 2019 included $41 million one-off for Vitamin E
  • Consumer and Ingredients product sales doubled (+111%) versus Q2 2019
  • Consumer revenue tripled with a shift to online; the highest revenue quarter yet
  • Earnings were impacted by sales mix and scale-up costs
  • Gross margin of 36% impacted by lower share of Collaboration revenue (100% margin contribution) and

higher revenue from scale-up products (contributing low margins)

  • Cash operating expenses of $43 million were down and lowest in five quarters
  • Adjusted EBITDA was down YoY due to one-off Vitamin E income in prior year
  • Significantly improved balance sheet
  • Reduced and simplified 12/31/2019 debt of $297m to $176m by end of Q2

Recurring revenue of $30 million grew 36% YoY and 23% QoQ

40%

DEBT REDUCTION DURING H1

36%

GROSS MARGIN (NON-GAAP)

+36%

YOY RECURRING REVENUE

EXPENSE

LOWEST IN 5 QUARTERS Investor Presentation | September 2020

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Recurring Revenue Growth And Continued Portfolio Shift

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Total Sales Revenue $m (Recurring vs one-off) 15 22 35 32 24 30

  • 41
  • 9

5

  • 0.05
0.1 0.15 0.2 0.25 $0 $10 $20 $30 $40 $50 $60 $70

Q119 Q219 Q319 Q419 Q120 Q220 Sales Revenue ($m) excl one-offs One-off items ($m)

63 41 29

  • Q2 Recurring revenue of $30m showed

continued growth YoY (+36%) and QoQ (+23%)

  • Record quarter in Consumer & Ingredients

with revenue of $26m, up 111% YoY. Consumer sales tripled YoY from strong

  • nline sales, Ingredients grew 56% YoY
  • Strategic portfolio shift continues with more

revenue generated from product sales (Consumer & Ingredients at 87%) versus Collaboration programs (13%)

Recurring Revenue $m Collaboration vs Consumer & Ingredients 12 12 20 20 19 26 2 10 15 11 5 4

0.05 0.1 0.15 0.2 0.25 $0 $5 $10 $15 $20 $25 $30 $35 $40

Q119 Q219 Q319 Q419 Q120 Q220 Consumer & Ingredients ($m) excl one-offs Collaboration & Grants ($m)

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Significantly Improved Capital Structure

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12/31/19 03/31/20

06/30/20

Common outstanding 117.7m 163.9m

204.6m

Fully diluted shares 214.2m 252.1m

278.8m

Market capitalization $364m $420m

$874m

Total capitalization $661m $629m $1,051m

Capitalization

Breakdown of fully diluted shares 06/30/20 Common outstanding 204.6m Warrants (details in appendix) 49.5m Preferred and converts 10.5m Employee stock plans 14.2m Fully diluted shares 278.8m 297 209 177

$0 $50 $100 $150 $200 $250 $300 $350

12/31/19 03/31/20 6/30/2020

Total Debt

($ Millions)

Reduced debt by 40% during H1 2020

Investor Presentation | September 2020

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Key Investment Highlights

  • The leading Synthetic Biology platform in the world: the fastest, cheapest and most sustainable

approach to high value chemistry for a sustainable planet

  • Delivering industry leading growth in the fastest growing and most profitable market segments:

Clean Beauty, Natural Health and Natural Flavor and Fragrance Ingredients

  • Significantly improved balance sheet with substantial debt reduction and simplification
  • We believe this is the moment to leverage $1.3B investment and 14 years of developing and

scaling technology and our market position to accelerate sector leadership

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Investor Presentation | September 2020

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Make good. No compromise.

Good for People Good for the Planet Good for Business

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Investor Presentation | September 2020