Amyris, Inc. H.C. WAINWRIGHT 22ND ANNUAL GLOBAL INVESTMENT - - PowerPoint PPT Presentation

Amyris, Inc.

H.C. WAINWRIGHT 22ND ANNUAL GLOBAL INVESTMENT CONFERENCE September 14, 2020

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.

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

Amyris is Delivering Clean Chemistry for a Healthier Planet

• Leading synthetic biology portfolio of platform

molecules driving speed to market and enabling deep disruption in the health, beauty & wellness markets

• ESG-driven high growth Clean Beauty consumer

brands disrupting the beauty space

• Proprietary functional sustainable natural ingredients

for flavors and fragrance, and health and wellness end- markets

56%

2019 GROSS MARGIN (NON-GAAP)

A track record of industry leading growth driven by consumer megatrends and enabled by proprietary science

Page 3

64 153

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

FY 2018 FY 2019

FY 2018-2019 Sales

+140%

($ in millions)

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

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 with revenue doubling YOY Clean and safe natural ingredients are more important than ever before Consumers are transitioning to clean and safe ingredients faster than ever and we are a leading supplier with advantaged technology

Synthetic Biology Enabling Growth in Sustainable and Clean Brands

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

• f the world’s leading brands with revenue growing 60-80% YOY

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

Page 4

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

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 redefining the sugar reduction experience for the worlds leading consumer brands

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

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

Growing In Attractive Markets With Clean Sustainable Products

Page 6

High growth wholly

• wned consumer brands

Clean skincare BiossanceTM Baby & Mothercare PipetteTM Alternative Sweetener PurecaneTM Flavors & Fragrance for Home and Personal Care Alternative Sweetener for Food & Beverage Clean Beauty for Cosmetics

Functional natural ingredients delivering performance and sustainability

1 Based on 2020 estimate

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

Page 7

Consumer Revenue $m

2 1 3 3 3 4 4 7 9 13

Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320F Q420F

Consumer Sales Revenue ($m)

Ingredients Revenue $m

• Excl. One-off

4 5 7 9 10 8 16 14 10 13

Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320F Q420F

Ingredients Sales Revenue ($m) excl one-offs

A Track Record of Industry Leading Growth

Sales Revenue Summary USD Millions Q118A Q218A Q318A Q418A FY18A Q119A Q219A Q319A Q419A FY19A Q120A Q220A Product excl One-off items 5.2 6.6 9.8 12.2 33.9 12.4 12.4 19.7 20.4 64.9 19.3 26.2 One-off items 7.9 (0.5)

• 7.4

(0.4) 40.7

• 8.8

49.1 3.8

• Product as reported

13.2 6.1 9.8 12.2 41.3 12.0 53.1 19.7 29.2 113.9 23.0 26.2 Actual Actual

Q4 2020 Revenue growth driven by consumer holiday purchases and new ingredients

~250% CAGR 2016-2020 ~50% CAGR 2016-2020

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

Consumer Brand Scorecard – Clean Brand Leadership

Consumer revenue = 3X

Page 8

Consumer website visits = 3X Online revenue = 6X Sold 3.6M units to

750K customers 28K 5 stars

product ratings

• ut of 33K total

H1 2020 vs H1 2019 Performance

550K Instagram

followers

750K - 1M

monthly consumer website visits Strong portfolio and pipeline that is expected to double revenue next few years

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

2020

BIOSSANCE IS LEADING THE WAY

Return on Advertising Spend: Q3 2019: $3.76 Q4 2019: $5.43 Q1 2020: $7.62 Q2 2020: $11.11

Page 9

• Products consumers love
• Setting the standard for Clean Beauty
• More than doubling revenue year over year
• Industry leading Return On Advertising Spend

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

Launched September 4, 2019

Retail Channel Distribution

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

Page 10

Investor Presentation | May 2020

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

Page 11

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

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

Formula For Profitable Growth

Page 12

High growth wholly owned consumer brands Functional natural ingredients

• Revenue doubling YOY
• 60-70% gross margin
• Marketing expense to educate consumers,

support and grow brands

• No capital expenditure requirement
• ~30% EBITDA margin at scale
• Revenue growing at 60-80% YOY
• 45-50% gross margin at scale1
• Minimal direct go-to-market expense
• $70M capital expenditure for every $200M of

annual revenue

• ~35-40% EBITDA margin

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

1 Excludes scale-up expense and reflects benefit of new Brazil integrated plant to be

commissioned by end of 2021

H1 2020 Margin Economics

Page 13

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

High growth wholly owned consumer brands Functional natural ingredients

Total Biossance Pipette Purecane

63%

Total Excl Scale-up expense Pro forma integrated plant

Gross Margin as % of Sales Revenue Gross Margin as % of Sales Revenue excl one-off 7% 38% +1,000 bps

Ingredients margins to enhance once new Brazil integrated plant is commissioned end of 2021

Amyris Valuation Comparables

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

Page 14

• 2020 Q4 revenue annualized would value our consumer

portfolio >$750M based on market multiples

• Our Vitamin E technology earned ~$150M in royalty and

license payments

• Squalane is valued at $120M based on current
• perating income and market multiples
• We have another 10 ingredients in our current portfolio

without cannabinoids

Publicly held companies Privately held companies H.C. Wainwright Investor Conference | September 14, 2020

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

Page 15

Daya Fields President, Pipette & Purecane

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

2020: Year Of Execution And Transformation

• Accelerated product revenue growth with 4 consecutive quarters of record revenue
• Delivering 4 new molecules at scale this year versus target of 2-3
• Completed successful $200M equity financing of common stock
• Reduced Debt by 40% from $297M at start of year to $176M at June 30. $70M of remaining Debt

as auto conversion to equity and no lingering debt wall

• Establishing the foundation for profitable growth and cash delivery

Page 16

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

Key Investment Highlights

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

approach to high value, Clean 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

Page 17

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

Make good. No compromise.

Good for People Good for the Planet Good for Business

Page 18

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