leading industrial biotechnology company

August 10, 2015

Leading Industrial Biotechnology Company

Disrupting markets one molecule at a time…

2Copyright © 2015 Amyris, Inc. All rights reserved.

FORWARD LOOKING STATEMENTS

This presentation and oral statements accompanying this presentation contain forward-looking statements, and any statements other

than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include,

among other things, statements regarding future events such as new collaborations and products to be introduced in 2015, customer

acceptance of Amyris products, product sales growth and market sizes for potential products, improvements in development times

and production capacities and costs, expected production and sales of fragrance molecules, commercialization of jet fuel, revenue

and cash flows for 2015, components of growth in revenues during the year, product launches, and Amyris’s business outlook, that

involve risks and uncertainties. These statements are based on management's current expectations and actual results and future

events may differ materially due to risks and uncertainties, including uncertainty regarding timing of closing transactions and growth

in sales, potential delays or failures in development, production and commercialization of products, liquidity and ability to fund

operating and capital expenses, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors"

section of Amyris's annual report on Form 10-Q filed on August 10, 2015. 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 contains both GAAP and non-GAAP financial

information. Amyris considers non-GAAP information to be a helpful measure to assess its operational performance and for financial

and operational decision-making. Where non-GAAP financial measures are presented in these slides, a presentation of the most

directly-comparable GAAP financial measure, as well as a quantitative reconciliation of the differences between the non-GAAP

financial measure and the most comparable GAAP financial measure, accompanies such information. In addition, please note that

on the call to discuss this presentation you will hear discussion of non-GAAP financial measures. Reconciliation of these non-GAAP

measures to the most comparable GAAP financial measures is contained in the news release distributed today, which is available at

investors.amyris.com.

Cautionary Notes


Introduction to Amyris


Amyris at a glance

Strategic Partners Commercial Products Product sales growth

Brands with Amyris “inside”

Consumers touched by Amyris Product Pipeline

1110

over

400 100M

c.a.$50Mcollaborations

20products

$400Msales

c.a.50%


Amyris partners


“Amyris inside”


Leading shareholders and board of directors

Geoff Duyk

John Melo

Patrick Yang

Philippe Boisseau

Carole Piwnica

B I O L D I N G

I N V E S T M E N T S

HH Sheikh Abdullah bin Khalifa Al Thani

Neil WilliamsFernando Reinach

John Doerr

Bram Klaeijsen


Company Overview


Industrial

Disrupting industrial markets using biotechnology

What We Do… How We Do It… What We Produce…

Using our proprietary biotechnology

process, we engineer microbes to

become living factories that produce

target ingredients in our industrial

fermentation facility

Delivering renewable ingredients and formulated products

Sustainable, cost-competitive and

high-performance ingredients and

formulated products serving the

Cosmetics, F&F, Pharma, Solvents,

Polymers, Fuels and Lubricants

markets

Performance Chemicals

Personal Care

Disrupting industrial markets using

our technology to manufacture and

sell high performance, low cost

ingredients and formulated products,

solving supply issues for multiple

industrial applications

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCNuti6iFlcYCFawljAodW08Hnw&url=http://www.biossance.com/&ei=f4WAVZvyFqzLsATbnp34CQ&bvm=bv.96041959,d.cWc&psig=AFQjCNFM6GQ6wXeXFFFukCAAVralGPgywQ&ust=1434572526665886

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCNuti6iFlcYCFawljAodW08Hnw&url=http://www.biossance.com/&ei=f4WAVZvyFqzLsATbnp34CQ&bvm=bv.96041959,d.cWc&psig=AFQjCNFM6GQ6wXeXFFFukCAAVralGPgywQ&ust=1434572526665886


Leaders in high-margin, high-growth markets

Polymers

Displacing existing high margin, specialty chemical ingredients using our proven technology and

flexible, commercial-scale production to provide a stable supply of lower cost, better performing

replacements

Population growth driving skincare, household, fragrance

Aging and beauty driving skincare products

Supply and price volatility from higher demand of limited products

Increased consumer demand for natural and renewable products

Mega trendsdriving growthopportunities

Regulatory environment favoring sustainable products

● Differentiated product at low cost

● Focus on higher margin specialty sectors

● Low cost provider in a high margin market

● Technology and production is flexible to adapt and supply the market

Fuels

F&F

Emollients

Solvents

Amyris Focus

High Margin

Low Margin

Commodity Specialty

Ethanol


Strategic supplier to leading brands

Performance Chemicals IndustrialPersonal Care

PharmaceuticalsCosmetics

Amyris Products

Markets

Hemisqualene

Farnesene Myralene

Farnesene

Diesel Jet FuelSqualene

Fragrance #2

Fragrance #1

Isoprene

Flavors & Fragrances

Polymers Solvents

Lubricants

Diesel

Adhesives & Coatings

Jet Fuel

Select Consumer

Brands

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCNyT8YrclMYCFdQujAodHR0FEQ&url=http://www.autoguide.com/auto-news/2014/05/should-i-buy-summer-tires.html&ei=RFqAVdzhENTdsASdupSIAQ&bvm=bv.96041959,d.cWc&psig=AFQjCNHCvizncyhQS1NpnV9ko4xbsCXQxA&ust=1434561458232101

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCNyT8YrclMYCFdQujAodHR0FEQ&url=http://www.autoguide.com/auto-news/2014/05/should-i-buy-summer-tires.html&ei=RFqAVdzhENTdsASdupSIAQ&bvm=bv.96041959,d.cWc&psig=AFQjCNHCvizncyhQS1NpnV9ko4xbsCXQxA&ust=1434561458232101

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCPzeiYTdlMYCFbhDjAodxCwPsg&url=http://www.mandplabs.com/interface/uploads/images/cache/&ei=QluAVfy1GriHsQTE2byQCw&bvm=bv.96041959,d.cWc&psig=AFQjCNEwjEV0XKmEgOI7k4Wo2Qndkv2oMg&ust=1434561721167718

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCPzeiYTdlMYCFbhDjAodxCwPsg&url=http://www.mandplabs.com/interface/uploads/images/cache/&ei=QluAVfy1GriHsQTE2byQCw&bvm=bv.96041959,d.cWc&psig=AFQjCNEwjEV0XKmEgOI7k4Wo2Qndkv2oMg&ust=1434561721167718


0%

25%

50%

75%

100%

2011 2012 2013 2014

Amyris

Novozymes

Croda

Industry

Disrupting the personal care ingredients market

Taking market share in Personal Care

● Creating lower cost, higher

performing products

incumbents can’t match

● Guaranteeing a stable supply

and long-term price visibility

● Adaptable and flexible

production to participate in

rapidly changing industry

trends—without capex

This success is transferable to multiple markets

given the flexibility of our technology and

production

Product Sales Growth

in Personal Care Market

% G

row

th


Squalane: formulated product case study

Advantage of the Amyris Model:

• Amyris has benefitted from the IP from farnesene (developed via collaboration) and further evolved it into squalane for use in its own products

• Production tightly controlled, ensuring consistency from lot to lot, both from a chemical and sensorial (i.e., odor and color) standpoint

• The highest quality emollient,

Squalane, is naturally present in the

skin lipid barrier, preventing

moisture loss while restoring the

skin’s suppleness and flexibility

• Commercial use of squalane is

constrained by inconsistent supply

and price volatility, impurities, and

overall quality

• Until recently, it could only be

sourced from deep sea shark liver

or olive oil

• Market was 3x larger 5-6 years ago

than today given limited supply

• Amyris technology enables market

acceleration, which is expected to

return to its prior size

• Market is expected to grow at a

CAGR of 10.3% to $177.1 million by

2019

• Amyris has developed a new

approach based on the isoprenoid

pathway to enable the commercial

scale manufacture of squalane from

fermentable sugars

What is Squalane? The Problem Why it Matters

Amyris as the Solution

Over 3 years, Amyris has already captured 20% of the market


High growth, low opex business model driving revenue from numerous streams

● Collaboration partnerships fund

R&D

● Intellectual property owned by

Amyris

● Revenue earned at all stages,

from collaboration through

royalty

● Contracted product stream

● Amyris formulated product

stream

● Low opex model given funded

R&D and leverage collaboration

partner sales channel

Collaboration / R&D

Amyris IP

Partner sales

IngredientsConsumer Products

Direct sales

Formulated ProductContracted Product

Profit Share

= Revenue stream $


Collaboration partners support revenue growth

Total Estimated Collaboration Inflows: $278M +

Performance Materials IndustrialsPersonal Care

Estimated Annual Product Revenue Potential: $400+

Eleven current collaboration partners across three market verticals including:

Amyris has not missed a milestone arrangement with a collaboration partner


Collaboration success with a fragrance partner

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$USD, in millions

2010 2014 2018

Fragrance #2

Fragrance #3

Collaboration Funding Inflow

Fragrance #1

Amyris now partners with 4

of top 5 industry players

representing >54% market

share, replicating the

successful revenue model

Co

llab

ora

tio

n I

nfl

ow

s an

d P

rod

uct

Rev

enu

e (N

on

-GA

AP

)

Collaboration dollars fund the programs with agreed milestones, in

addition to our product sales and profit shares earned with

partners

● In Nov. 2010, Amyris partnered with a

top fragrance provider to produce a

cost-effective, sustainable ingredient

for the fragrance market

● Agreement provided partner with

option to collaborate on 2nd

ingredient, if successful

● Amyris delivered on key development

milestones for the first ingredient, well

ahead of schedule

● In July 2011, the companies expanded

their agreement to include a third

ingredient—indicative of the

partnership’s success

● Further expanded partnership in

March 2013

Estimated $13 Billion Market Opportunity with

existing partners


A strong pipeline of potential partners

PreliminaryDiscussions

ApplicationValidation

ContractDiscussion

PartnershipAgreement

Launch

Partner 2

Partner 3

Partner 4

Partner 5

Partner 6

Partner 7

Partner 8

Partner 9

Partner 10

Partner 11

Partner 12

Partner 1 $30M

$5M – 6M

$25M

$15M

$8M

$5M

$5M

$5M

$3M

$8M

$25M

$25M

RevenueOpportunity*

Collaboration partnerships expected to grow within existing

products / markets without need for new technology

* Revenue Opportunity assumes successful completion of milestones and annual payments over 3-5 years.


Advanced engineering capability

Innovative Industrial Biotechnology Engineering Platform

1. Identify target molecules – customize, replicate, and improve microbial strains

2. Develop initial strains / proof of concept

3. Improve strain performance and process development – lower-cost, higher-performing

targeted molecules for industrial scale production

4. Move production from lab to commercial scale

Build Strains Test Strains and Processes

120,000 strains

per month

60 strains per month

2 strains per month

2 to 4 strains

per year

Manufacture

Millions strains per

month

96-wellScreening

Mutagenesis,Meiosis &

AutomatedStrain

Engineering

0.5 & 2 LiterFermentation

300 LiterFermentation& Recovery

200,000 LiterFermentation& Recovery

Amyris Industrialized Organism Development Factory

● 136 R&D employees

● 65 Ph.Ds

● “Big data” repository of yeast

design data

● Over 350 patents

● Funded by partners


Amyris engineers microbial factories to produce diverse molecules sold into a variety of markets

ETHANOL

Biomass

Central metabolism

pyruvate

“Baker’s Yeast”Saccharomyces cerevisiae

IsoprenoidSynthesis

acetaldehyde

Acetyl CoA

ISOPRENE

GPP

FPP

FRAGRANCE OILS

ARTEMISINIC ACID

monoterpenes

sesquiterpenes

IPP/DMAPP

FARNESENE

Shikimate pathway

VITAMINS

CONFIDENTIAL

GGPP

TAMIFLU ingredientsMUCONIC ACID

TAXOL


Reducing time to market for our partners

Reduced Lab-to-Market Time for products

● Engineered over 485,000

farnesene strains in 2014

and 4.6 million unique

strains since inception

● High-throughput system

capable of producing and

screening more than

100,000 strains per month

● ~95% lower cost per strain

than achieved in 2009

● Significant improvement in

cost and time of molecule

delivery for partners

0

10

20

30

40

Amorphadiene Farnesene Fragrance #1 Fragrance #2

Time to 40 g/L

Mo

nth

s


Flexible, industrial-scale production

Biorefinery in Brotas, Brazil

● Status: Completed in 2012

● Size: 1.2 million liter production capacity (Six 200,000

liter production fermenters)

● Capacity: Designed to process up to one million tons

of raw sugarcane annually into sugarcane juice or its

equivalent

● Flexibility: Uniquely designed to nimbly switch

between the manufacturing of multiple products in an

abbreviated timeframe

● Co-location: Strategically positioned next to the sugar

mill that provides feedstocks for production

● Payback: Management expects the plant to reach

cash payback by early 2016


Farnesene – game changing cost evolution

0

5

10

15

20

25

30

35

40

45

$2.36/L

Present

● Focused on building and commissioning

own plant while reducing contract

manufacturing

● December 2012: began production of Farnesene at the Brotas

facility, significantly reducing capital investment and production

costs

● Operating Brotas facility at better tank utilization and

up times further reducing production cost

● Introduced new generation of cost

effective Farnesene strains

Drove Farnesene production cash costs from ~$40 per liter to under $2 per liter and have visibility on

under $1 within the next 24 to 36 months

Visibility to <$1.0/L

Technology ScaleProcess

ImprovementCo-Production

PR

OD

UC

TIO

N C

OST

EV

OLU

TIO

N

($/L

, no

n-G

AA

P)


Summary

1. Amyris is the partner of choice to solve supply challenges for

leading brands

2. Distinctive business model that funds R&D, accelerates and

de-risks time to market and delivers a long-term annuity from

value share arrangements

3. Fully funded business with operations at industrial scale

generating 50% annual product sales growth


Financial Overview


Financial highlights summary

YTD June cash rev inflow Current cash balance Debt conversion

$35M c.a. $33M $180M

Non-GAAP cash revenue inflows of

$35.5M in H1, a 34% increase vs.

2014, and compared to full year

guidance of $82M-$102M

Continue to maintain $50-million equity

facility

Temasek and Total debt to be

converted to equity/JV interest; $143M

at closing and $37M at maturity. Pro

forma debt of $140M

2015 new products plan Q2 farnesene cost GAAP revenue fcast

5 $2.36/Liter $63M-$75M

The Revitalizer (cosmetic), Muck

Daddy (hand cleaner), three new

fragrance molecules to be delivered

Achieved another new product cost

record in June, with expectations for

the year to be well below this by year

end

First GAAP revenue guidance for FY

2015 relatively evenly split between

collaboration revenues and product

sales; range due to collaboration timing


Improved capital structure with $180M debt conversion

● Converted $180M of debt, with $138M exchanged at $2.30/share, $5M into JV

interest, and $37M converted at maturity

● Q2 pro forma debt of $140M excludes the $37M of debt that converts at maturity

● Earliest remaining maturities in 2017, include Hercules loan and Fidelity convertible

notes. Remaining other debt matures in 2018, 2019, 2022

-

50.0

100.0

150.0

200.0

250.0

300.0

June 30 PF June 30

June 30, 2015 debt and pro forma debt(before debt discount; ex future conversion)

Fidelity convertible note

Senior secured loan

Total R&D notes/other

Tranche 1 convertible notes

Tranche 2 convertible notes

6.5% convertible 144A notes

Brazil loans

Other loans


Historical cash revenue inflows (non-GAAP)

Outlook $82.0-$102.0

0.0

20.0

40.0

60.0

80.0

100.0

2010 2011 2012 2013 2014 2015

Renewable Products -excluding ethanol Collaboration Inflows

$'s

in M

illio

ns

(1) GAAP Grants and Collaboration Revenue for the year-ended 2014, 2013, 2012, 2011 and 2010 were $19.9 million, $25.3 million, $24.1 million, $17.2 million and $11.6 million, respectively. Cash revenue inflows, a Non-GAAP measure, represent renewable GAAP product revenue plus the cash received from collaborations and grants. Cash revenue inflows are calculated using GAAP revenues and adding the related changes in accounts receivable and deferred liabilities related to revenue recognized for these collaborations and grants to equal funds received during the period, along with any funding associated with collaborations.

(2) 2015 based on business outlook provided on August 6, 2015, of $82M-$102M for anticipated cash revenue inflows expected to be balanced between collaborations and new product revenue.

2015 expected Cash Revenue Inflows weighted to collaboration inflows compared to product sales


Focusing sales on higher value products

Continued growth in our higher margin personal care and performance chemicals

driving commodity industrials (fuels) contribution decline

Performance chemicals


10 commercialized products inside over 400 brands and reaching over 100 million consumers

11 industry leading collaboration partners funding R&D and purchasing products with a long-term value share

Best-in-class technology platform and microbe engineering disrupting multiple markets

Flexible, low cost, industrial-scale production

Proven business model delivering 50% annual product sales growth

Investment highlights

1

2

3

4

5

leading industrial biotechnology company

Documents