amyris, inc....about amyris •leading synthetic biology portfolio of platform molecules driving...

Amyris, Inc.

INVESTOR PRESENTATION

September 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.

Investor Presentation | September 2020

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

64

153

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

FY 2018 FY 2019

FY 2018-2019 Sales

+140%

($ in millions)


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.

Patrick Yang Ph.D.

EVP, Juno Therapeutics/SVP Operations Roche/EVP Operations Genentech

Lisa Qi

Director, Daling Family/GM YSL China


Daya Fields

President, Pipette & Purecane

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 pending871

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

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


Serving Attractive Growth Markets

1 Based on preliminary unaudited Q1 2020 performance2 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%

Sales1 Sales1


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+

of 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


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

Dedicated pipeline:

Automated Scientist and

state-of-the-art robotics


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

• HMO

• Vitamins

• Cannabinoids

EXISTING

PIPELINE

*Confidential products

**Recurring revenue includes all revenue that has a multiyear contract and revenue from our consumer brands

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


Our Strategic Priorities

1 High growth consumer brands

2Scientific and commercial

collaboration

3 Supply chain optimization

4Improved 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

• 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


2020 BIOSSANCE IS LEADING THE WAY

Return on Advertising Spend:

Q3 2019: $3.76

Q4 2019: $5.43

Q1 2020: $9.20


FOUNDER

We originate from…

SOURCE

We source from…

IDENTITY

We are…

PERSONALITY

We act…

PRODUCT

We make…

BERKELEYBIOTECHNOLOGY

BRAZILIAN SUGARCANE

APPROACHABLE SCIENCE

SELFLESS EDUCATION

CLEAN-ICAL(Equally clinical & clean)

Biossance Brand: DNA Pillars


BIOSSANCE SAVES OVER2M SHARKS A YEAR

1Clean AcademyLeader in Clean Beauty education

2 City Takeover

360 Takeovers, including NYC and LA

3Become the most loyal brand

With the most passionate followers

4 Digital Leadership

Best in class experience, engagement and

platforms

Biossance Brand Key InitiativesSQUALANENATURE’S BEST MOISTURIZER


15 26 40 6297

127154

194222 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

SALESSephora Monthly Productivity*

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

113 130240

297 296 255

2017 2019YE2018

EC (17 SKUs) Wall (6SKUs)

DOORSSephora End Caps produces 2-2.5X more retail revenue

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


Launched September 4, 2019

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

Investor Presentation | May 2020

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

Pipette Truly Delivers on Clean Compared To Leading Brands


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


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


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

EXPENSELOWEST IN 5 QUARTERS


Recurring Revenue Growth And Continued Portfolio Shift

Total Sales Revenue $m

(Recurring vs one-off)

1522

35 3224

30-

41

- 9

5 -

0

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

online 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

262

10

15 11

5

4

0

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)

30

15

22

35

24

32


Significantly Improved Capital Structure

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

209177

$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


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


Make good.

No compromise.

Good for People

Good for the Planet

Good for Business


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