1

Making the Food You Love a Healthier Choice™

March , 2018

2

FORWARD LOOKING STATEMENTS

Thiscommunica.oncontains“forward-lookingstatements”withinthemeaningofthesafeharborprovisionsoftheU.S.PrivateSecuri.esLi.ga.onReformActof1995.Insomecases,youcaniden.fythesestatementsbyforward-lookingwordssuchas“may,”“might,”“will,”“should,”“expects,”“plans,”“an.cipates,”“believes,”“es.mates,”“predicts,”“poten.al”or“con.nue,”thenega.veofthesetermsandothercomparableterminology.Theseforward-lookingstatements,whicharesubjecttorisks,uncertain.esandassump.onsaboutus,mayincludeprojec.onsofourfuturefinancialperformance,ouran.cipatedgrowthstrategiesandan.cipatedtrendsinourbusiness.Thesestatementsareonlypredic.onsbasedonourcurrentexpecta.onsandprojec.onsaboutfutureevents.Thereareimportantfactorsthatcouldcauseouractualresults,levelofac.vity,performanceorachievementstodiffermateriallyfromtheresults,levelofac.vity,performanceorachievementsexpressedorimpliedbytheforward-lookingstatements,includingthosefactorsdiscussedunderthecap.onen.tled“RiskFactors”inourregistra.onstatementonForm10-K,alongwithourotherfilingswiththeU.S.Securi.esandExchangeCommission.Wedonotassumeanyobliga.ontopubliclyproviderevisionsorupdatestoanyforward-lookingstatements,whetherasaresultofnewinforma.on,futuredevelopmentsorotherwise,shouldcircumstanceschange,exceptasotherwiserequiredbysecuri.esandotherapplicablelaws.

3

•  SugarcaneDivisionGeneralManager,Monsanto•  Manager,Omega-3SoybeanProgram,Monsanto•  MBA,WashingtonUniversity,St.Louis•  AgronomicEngineer,BuenosAires,Argen.na

A World Class Management Team

•  NorthAmericanSupplyChainFinanceLead,Monsanto•  DirectorofInvestorRela.onsandDirectorofFinance

(RegionalCFO)forLatAm,Monsanto•  Ernst&Young

•  20+Yearsofcommercial,strategyandM&Aexperienceformul.pleglobalagriculture,food,energyandmaterialscorpora.ons

•  AssistantVicePresidentforFoodIngredientsandBio-industrialEnterpriseatCargill

•  MBA,TuckSchoolofBusinessatDartmouth

FedericoTripodi,CEO

BryanCorkal,CFO

ManojSahoo,CCO

•  InventorofTALEN®Technology•  ProfessorandDirectorofGenomeEngineeringDepartmentat

theUniversityofMinnesota•  ElectedFellowoftheAmericanAssocia.onforthe

AdvancementofScience•  Ph.D.inGene.cs,Harvard

Dr.DanVoytas,Ph.D.,CSO

•  Founder,CEOandChairmanofCellec.s•  Oneoftheinventorsofnuclease-basedgenomeedi.ng

technologies•  Ph.D.inMolecularVirology,UniversityofParisIV•  ResearchfellowshipintheHarvardMedicalSchool

DepartmentofGene.cs

Dr.AndréChoulikaPh.D.,Chairman

MichelArbadji,CommercialDirector•  27Yearsofagriculturalbusinessdevelopmentexperience

across5con.nents•  HeadofOpera.ons,SignatureControlSystems•  HeadofSales,TheToroCompany,Yacco•  Agronomy,MBAESCP-INAPG,Paris

Dr.GlennBowers,Ph.D.,VPBreeding•  36YearsofSoybeanBreedingexperienceinpublicandprivate

sectors•  GlobalHeadSoybeanbreeding,Syngenta•  Head,SoybeanbreedingSouthAmerica,Syngenta•  Ph.D.PlantPathology,UniversityofIllinois,Urbana-

Champaign

4

Pre-Season Achievements and Road Map for 2018

Ø  AsofMarch13th,successfullycontractedover11,500high-oleic/notrans-fatsoybeanacreswithover60growers.

Ø  PartnershipwithFarmer’sBusinessNetwork,Inc.(FBN)toexpanddistribu.onandgrowerbaseofiden.ty-preservedhigholeicsoybeansintheupperMidwest;LaunchedFBNseeddistribu.onand2018HighOleicPremiumGrowerProgram

Ø  Aroundadozensmalltolargefoodcompanycustomersengagedacrossfoodservicesandfoodingredientapplica.ons

Ø  Advancedtwoproductcandidatesfrom‘discovery’to‘phase1’development

Ø  Newconcept-to-forkfacilityinRoseville,Minn.,ontrackforcomple.oninSpring2018

5

Whatifthefoodsyoulovecouldimproveyourhealth?

6

Who is Calyxt?Food ingredients for consumer health

Weare…

acompanydevelopinghealthierspecialtyfoodingredients……byleveragingcuongedgesciencetodevelopfoodcropsthroughgeneedi.ngtechnologies

ConsumerNeeds

Healthierfoodingredients

AgronomicTraits

FarmerNeeds

BestinClass

GeneEdi(ngTechnologiesandTechnicalExper(se

BestinClass

ProductDevelopmentCapabili(es

BestinClass

Iden(tyPreservedSupplyChain

BestinClass

SpecialtyFoodIngredients

Howwearebuildingapathtomarket..

7

CURRENTINDUSTRYCHALLENGESRECENTFOODANDHEALTHCHALLENGES

100% IncreaseinObesitycasesamongstadultsinlast30years

43% DeathscausedbydiseaseslinkedtoPoorDietincludingDiabetesandHeartDisease

50% IncreaseinFoodAllergiesinchildrenbetween1997and2011

DataShownforUnitedStatesofAmerica

Food Related Issues are GeSng Worse Legacy agriculture companies have overlooked society’s food related issues

AGINDUSTRY:-  Commodi.zedsupplychains

-  Increaseproduc.vity

-  Reducecost/inputs

-  GrowGMOsinmaincrops

-  Limitedconsumerfocusedinnova.on

FOODINDUSTRY:-  Processedfoodswithchemicaladdi.ves

-  Consumerswantvariety

-  Provide‘cleanlabels’

-  Providehealthbenefitsandfunc.onality

Source:CentersforDiseaseControlandPreven.on,Na.onalCenterforHealthSta.s.cs,andtheJournalofHealthEconomics

48% Increaseinmedicalcarecostsfromobesity($315Bin2010)

8

ReduceWaste

Insect/DiseaseResistance

HerbicideTolerance

ReduceInputslikenitrogen,phosphorus

IncreaseYield

Gene EdiUng is a Paradigm ShiV Our Technology Allows Us to Address Both Consumer and Farmer Needs

MOREOF…

LESSOF…

PlantProteins

Nutrients

Color,Flavor

DietaryFibers

GoodFats

Vitamins

SaturatedFatsTransFats Allergens Toxic

Compounds

9

Gene EdiUng – DisrupUve Technology Precision and Power Accelerate Timelines

10

TALEN® - Proprietary, Leading Gene EdiUng Technology Genome EdiUng Through A Simple Two-Step Process

Geneisdisabled(knock-out)removalofundesiredtraits

Calyxtisafirstmoverofarevolu\onarytechnologywithstrongresultsandpoten\al

Geneisdisabled(knock-out)Cellsrepair.

Acontrolledcutisinducedinthegene-of-interest

GENOMEEDITINGPROCESS(TALEN®)

GeneisrepairedImprovementofgenefunc.on

Geneisinserted(Knock-in)inser.onofanewtrait

1

2

1

2

TwoTALEN®recognizetheirDNAtarget

11

Intellectual Property Overview Broad patent protecUon in mulUple technologies

-  ExclusiveworldwidelicenseagreementwithCellec.sinthefieldofresearching,developingandcommercializingseedsandfoodingredients(excludinganimals)foragriculture,feedandfoodapplica.ons(subjecttoexis.nglicenses)

-  Calyxt’slicenseagreementwithCellec.sisperpetual

-  PatentscoverbothTALENandthecellrepairprocess

-  ExclusivelicenseagreementwiththeUniversityofMinnesotafortheuseofCRISPR/Cas9technologytomakeuse,andcommercializeproductscoveredbythelicensedpatentsinanyfieldofuse

-  Licenseop.onagreementwithPlantBioscienceLimitedandIns.tuteofGene.csandDevelopmentBiologyChineseAcademyofSciences

-  CommerciallicenseagreementwithTwoBladesFounda.onrela.ngtoTALnucleasetechnologies

TALEN®

Meganuclease

CRISPR

SpecificTraits

U.S.

Foreign

189PatentsandPatentApplica\ons

87PatentsandPatentApplica\ons

128PatentsandPatentApplica\ons

55PatentsandPatentApplica\ons

17Patents47PatentApplica\ons

67Patents132PatentApplica\ons

12

Trait Development Process

Taking the Lead by Decreasing Development Timelines A comparison of crop development process – TradiUonal vs. Calyxt

Farmer needs

Phase I

1-2 years

Phase II

1-2 years

Field ValidaUon & TesUng

Phase III

1-3 years

Seed ProducUon & Pre-Launch

Healthier Food needs

Market Launch

CreaUon of Genome-Edited

Lines

Construct OpUmizaUon

CreaUng Commercial

Event Field TesUng

Regulatory Studies

Market Launch

Average: 13 years; $130 million

TradiUonal GMO Development Process Phase I Phase II Phase III Phase IV

Trait Discovery

Trait Discovery

Months

3–6 years; significantly reduced development cost

13

Calyxt Pipeline Development Process Overview of the Different Phases

1-3YearsPHASEIII:Pre-CommercialFirstcommercialscalepilotproduc;on.Foodingredientapplica;ondevelopmentSupplychainestablished.Buildinventorypriortocommercializa;onNumberofcandidates:1leadcandidatewithtargetmarketsegmentsiden;fied

MonthsDISCOVERYIden;fygenesofinterestNumberofcandidates:100s

1-2YearsPHASEI:Producttransforma\on&eventselec\onGeneedi;ngusingTALEN®Ini;alseedproducedNumberofcandidates:1-5leadevents

1-2YearsPHASEII:Traitvalida\onSmallscaletest:phenotypeandingredientfunc;onalityconfirmedLargescaletest:mul;loca;ontrials.SeedincreasesNumberofcandidates:1-2leadcandidates

CommercialBuildoutgermplasmandreachpeaksalesin5to6years

AcceleratedDevelopmentCycle

3-6Years

14

High Oleic Soybean – High Fiber Wheat – Herbicide Tolerant Wheat

Our Product Pipeline

15

Rich and InnovaUve Product Pipeline Fueled by Several OpportuniUes of Product Ideas

Product Candidate Discovery Phase I Phase II Phase III

Consumer Centric Products

High Oleic Soybean*

High Oleic / Low Lin Soybean*

Improved Protein Composition Soybean

High Fiber Wheat *

High Fiber Wheat II

Reduced Gluten Wheat

Improved Oil Composition Canola

Cold Storable Potato*

Reduced Browning Potato*

Cold Storable / Reduced Browning Potato

Late Blight Resistant Potato

Farmer Centric Products

Drought Tolerant Soybean

Improved Yield Soybean

Herbicide Tolerant Soybean

Powdery Mildew Resistant Wheat*

Herbicide Tolerant Wheat

Herbicide Tolerant Canola

Improved Quality Alfalfa*

Herbicide Tolerant Alfalfa

Soybean Wheat Canola Potato Alfalfa

* USDA confirmation that product is not a regulated article under PPA 7 CFR part 340

16

High Oleic Soybean

•  80%oleicacid•  20%lesssaturatedfats•  Zerotransfats•  Improvedoilprofile,similartooliveoil•  Upto3xincreasedfry-life•  Blandtaste,idealforfoodapplica.ons

Calyxt’sHighOleicSoybeanOilComposi\on1

OleicOilComposi\onComparison1,2Status/Timing

Enhancing Health Ahributes by Improving Oil ComposiUon

1.  Companydata2.  CodexAlimentarius,StandardsforNamedVegetableOils,CODEXSTAN210-1999

0

50

100

Commodity CalyxtHOSoybean

Linoleic Linolenic Saturated Oleic

15242731

52616980

0% 20% 40% 60% 80% 100%

SafflowerSoybean

SunflowerMaizePeanutCanolaOlive

CalyxtHOSoybean

Oleic Saturated Polyunsaturated

•  CurrentlyinPhase3•  Expected2018commerciallaunch•  Supplychainpartnershipsestablished

17

Calyxt HO Soy Business Model High Oleic Soybean Value Chain has Three Revenue OpportuniUes

•  Calyxtcontractsfarmerstogrowhigholeicsoybeansunderiden.ty-preservedcontracts

•  Calyxtcontractscrusherstoprocesshigholeicsoybeanstomealandoilundertollprocessingagreement

•  Calyxtsellshigholeicsoybeanoil

•  Calyxtu.lizesexis.ngseedproducerstoproducehigholeicsoybeans

GrainProduc(on Processing SaletoFoodIndustryCustomers

SeedProduc(on

Distributor

HOSoybeanOil

HOSoybeanMeal

HOSoybeanSeedSoldtoGrowers

HOSoybeanMealSoldasProteinfor

AnimalNutri\on

HOSoybeanOilSoldasPremiumVeg.

OiltoFoodCompaniesasaSpecialtyIngredient

18

Calyxt’s RelaUonship with FBN(SM)

CollaboraUon driven network provides a significant advantage

Farmer’sBusinessNetwork,Inc.(FBN)

FBNfarmermembernetworkExis.ngwarehouseloca.onsFuturewarehouseloca.onsCommercial

Capabili\es

PhysicalInfrastructure

AgronomicIntelligence

StrongPresence

Progressivenetworkofthousandsoffarmersintargetregions

Analy.csplaxormdrivenbycombinedintelligenceofmillionsofacres

Warehousesanddistribu.oncenterslocatedacrosstheUS

Dedicatedfarmerfocusedsalesteam

Calyxt’srela\onshipwithFBNenablesascalablesupplychainandsupportsexecu\on

19

Calyxt’s Proprietary Breeding Program

24+EliteParents

CrossingofElitex

CalyxtHO SinglePlants(50,000-100,000)

SingleRow

Trials(2000-5000)

100+NonGMOFinishedVarie.es

AvailableforGeneEdi.ng

HOVersionofCurrentVarie.es

ReplicatedYieldTrials

(10-30Varie.es)

3+HOCoreVarie.es/Year

AcceleraUng TradiUonal Breeding with Gene EdiUng Precision

CalyxthasAchievedaNumberofMilestones

ü  Startedbreedingprogramin2016with24diversepopula.onsü  3000+linesadvancedtoSouthAmericatrialsforClassof2021ü  800rowsadvancetoUS

Tradi.onalBreedingProgram

TALEN®Powered

AcceleratedBreedingProgram

Time

Num

bero

fProdu

ctCan

dida

tes

WithTALEN®technologyCalyxtcanincreasebreadthofproductlaunchesbyaccelera\ngnewvariety\melinewithhigherprobabilityofsuccess

2-3HOCore

Varie.es/Year

20

High Oleic Soybean – Revenue Opportunity $1.2-$1.9bn opportunity from 2.3-3.3% penetraUon of US Soybean Acres1

Source:ForeignAgriculturalService,USDA,Na.onalAgriculturalSta.s.csServices,GlobalAgriculturalTradeSystem,AgriculturalMarke.ngService,Na.onalMonthlyFeedstuffPrices,MillingandBakingNews,Fats&Oils:OilseedCrushingsandPeanutStocksandProcessors.1.  Basedonanillustra.veexampleofthepoten.alrevenueopportunityforhigholeicsoybeaninthreeaddressablemarketsatapeakyearofmarketpenetra.onwithin7-10yearsayercommencingcommercializa.on.Itisforward-lookingand

subjecttosignificantbusiness,economic,regulatoryandcompe..veuncertain.esandcon.ngencies,manyofwhicharebeyondthecontroloftheCompanyanditsmanagement.Theillustra.veexampleisbasedonvariousassump.ons,includingthetargetmarketsizegrowthrate,theassumedpenetra.onrateandtherateatwhichthehigholeicsoybeancapturestotalsoybeanproduc.on.Theseassump.onsaresubjecttochangeandyoushouldnotplaceunduerelianceonthisillustra.veexample.Actualresultswillvaryandthosevaria.onsmaybematerial.Nothinginthispresenta.onshouldberegardedasarepresenta.onbyanypersonthattheseobjec.veswillbeachievedandtheCompanyundertakesnodutytoupdatethisillustra.veexampleascircumstanceschange.

2.  Premiumoilsaccountfor~34%oftotaloilsupplyandinclude:coconut,corn,co{onseed,olive,peanut,canola,safflower,sesame.3.Poten.altargetmarketsizegrownat5%CAGRfor10years,whichassumes2%infla.onand3%popula.ongrowth.4.Neartermexpectedseedprice$30-$40/acre,poten.altoincreaseto$60/acreayerherbicidetolerancetraitcommercializa.on.

Poten(alHOSoybeanSeedRevenue

$54-$163Million4

HOSoybeanSeed HOSoybeanMeal HOSoybeanOil

90millionSoybeanAcresinUS

CalyxtTargetShare:2.2%to3.3%

MarketS

hare

Execu\

on

Goa

ls

Revenu

ePo

ten\

al1

q  Increasegrowernetworktoapproximately8,000farmers

q  Develop4to6varie.esinmul.plematuritygroups

q  Buildanetworkof5to6crushplants

PremiumOils34%ofTotalvegetableoilmarket($13billion)23

45.6milliontonsproducedinUSper

year

q  Capture4%to6%ofsoybeanmealdemand(1.8–2.7milliontons)

Poten(alHOSoybeanMealRevenue

$616-$924Million

Poten(alHOSoybeanOilRevenue

$520-$780Million

q  Capture4%to6%ofpremiumoilmarket

q  Supply~30–50FoodCoCustomers

CommodityOils

CalyxtTargetShare:4to6%

OtherPremiumOils

CalyxtTargetShare:4to6%

21

0% 50% 100% 150%

Apples,raw,withoutskinCarrotsOrange

Commodityriceflour,brownCommodityoatflour,par\allydebranned

QUAKER,100%NaturalGranolaOatsandHoneyCommoditycornflour,wholegrain

Peas,green,rawCommoditywholewheatflour

Almonds,dryroastedKELLOGG'S,SPECIALKLowCarbLifestyleProtein

Calyxtwheatflour,wholegrain

%DailyValue

Dietaryfibercontentcomparison

High Fiber Wheat

Calyxt’sHighFiberWheatComposi\on5

CalyxtHighFiberWheatComparison4,5

Status/Timing

White Wheat Flour with Up to 3 Times More Fiber

ü  CurrentlyinPhase1ü  2018:Func.onalitytes.ngofCalyxtWheatFlour,Phase2

ü  2019:Developmentofsupplychain(e.g.,seedproducers,grainproducers,millers,foodindustrycustomers),Phase3

ü  2020-2021:An.cipatedcommerciallaunch

Poten\alFeaturesandBenefitsforConsumers:ü  “Highinfiber”contentclaim1ü  “Mayreduceriskofsometypesofcancer”labelingclaim2

ü  “Mayreduceriskofcoronaryheartdisease”labelingclaim3

AsingleservingofCalyxthighfiberflourmayprovideupto100%oftherecommendeddailyvalue

1.CodeofFederalRegula.ons(2012).Title21,Sec.on101.54-Nutrientcontentclaimsfor“goodsource,”“high,”“more,”and“highpotency.”2.CodeofFederalRegula.ons(2012).Title21,Sec.on101.76-Healthclaims:fiber-containinggrainproducts,fruits,andvegetablesandcancer.3.CodeofFederalRegula.ons(2012).Title21,Sec.on101.77-Healthclaims:fruits,vegetables,andgrainproductsthatcontainfiber,par.cularlysolublefiber,andriskofcoronaryheartdisease.4.Calyxtinternalcalcula.on5.h{p://nutri.ondata.self.com/

22

Herbicide Tolerant Wheat

CalyxtHerbicideTolerantWheatValueProposi\on

Status/Timing

Wheat Tolerant to MulUple Herbicides

ü  CurrentlyinPhase1

ü  Designedtoprovidetolerancetotwodifferentchemistriescurrentlyinthemarket

ü  TALEN®precisionenablesCalyxttoworkwithagene.callycomplexcroplikewheat

1.BASFClearfield®wheatbrochure:“MaximizeYourReturnonInvestmentwiththeClearfield®Produc.onSystemforWheat”2.Heap.Weedscience.org.2016

Corn(maize) Wheat Soybean Rice Co{onIncreaseinUniqueHerbicideResistantWeedCasesforSelectedCrops2

140

120

100

80

60

40

20

01975 1985 1995 2005 2015

Year

Num

bero

fUniqu

eRe

sistantCases

DriversØ  Yieldlosses,dockageanddiscountscancostthegrowerupto$71/acre1

Ø  Weedresistancetoherbicidesisamajorissueinagriculture

Poten.alBenefits:ü  Improvedyieldandgrainqualityü  Non-transgenicü  NoforeignDNA

23

Gene Edited Disease Tolerance Achieved Powdery Mildew Case Study and New Results

RESISTANTCHECK CLXTSPRING CLXTWINTER SUSCEPTIBLECHECK

ResultsValidateProductConcept

ü  Wheatisahexaploid,with17Billionbases.ü  AllSixcopiesofMLOgeneneededtobedeac.vatedtoconferresistance.

ü  Poten.altoreducefungicideapplica.onsinwheatandmi.gateyieldlosses.

ü  Wasdonetwice(springandwintervariety).ü  ProvidesFounda.onforbroaderfungalresistanceproduct(mul.plediseaseconcept).

Phototaken20dayspost-inocula;on.WheatTechnologicalBreakthroughs

Product Candidate Discovery Phase I Phase II Phase III

Consumer Centric Products

High Fiber Wheat

High Fiber Wheat II

Reduced Gluten Wheat

Farmer Centric Products

Powdery Mildew Resistant Wheat*

Herbicide Tolerant Wheat

%plantcoveredwithsporesa

bbb

FirstTALEN®geneeditedwheatharvestcompleted,yielding300LbsofPowderyMildewResistantWheatseedforfurthertes\ng

24

AcceleraUng Return on Investment Clear Metrics to Unlock Gross Margin Growth Opportunity

ConsumerProductLaunches

SupplyChainImprovements

FarmerProductLaunches

GrossMargin

•  LaunchofHighOleicSoybeansinNA

•  LaunchHighFiberWheatinNA

•  Establishfarmerandcrusherbase(growsYOY)

•  Establishfoodcompanycustomerfunnelbytargetapplica.on

•  Morevarie.esenableregionalexpansionandlowercostofsales

•  AddLowLinolenic•  Seekglobalregulatory

approvalstoenableoilexports

•  Scale(moreandlargercrushers)

•  NewConsumerProductsLaunched(targetcrops)

KeyFactorstoProfi

tGrowth

20212018 2024•  HerbicideTolerant

TraitsLaunchedwithOutLicensingmodel(noinventorycost)

•  Combina.onsofconsumerandherbicidetoleranttraits

•  Newaddi.onalProducts

25

Capturing FronUers in Food and Ag Our Process Enables Beher Products, Faster to Market and at a Lower Cost

Thefutureofcrea(ngcropsandhealthyfoodworldwideü  Acceleratedautoma.onandhighthroughputscreening

ü  Shorterdevelopment.melineformoresophis.catedproducts

ü  Calyxtistheonlypure-playgeneedi.ngplayerinag-foodspace

Disrup\veApproachtoCropsand

HealthierFood

Innova(veapproachleadingtheagbiotechindustryü  HOsoybeanoilmaybefirstgeneeditedtraittomarket

ü  Lowestoverallcostofdevelopment

ü  Posi.onedtoassesstheprobabilityofsuccessearlyinR&D

ValidatedBusinessModel

ProprietaryplaGormtodesignanddevelopnewproductsü  Targe.ngonlydesiredgenes

ü  Exclusivetechnologieswithstrongintellectualproperty

ü  6productsacross4cropsdeclarednotregulatedbyUSDA

UniqueGeneEdi\ng

Capability

Bycombiningourleadinggene-edi.ngtechnologywithourinnova.vecommercialstrategy,wearepioneeringaparadigmshiytodeliverhealthierfoodingredientstoconsumersandagriculturallyadvantageoustraitstofarmers

26

Whatifthefoodsyoulovecouldimproveyourhealth?

Wouldyouevereatanythingelse?