NESTE Renewable Jet Fuel

Presented at the IATA, Alternative Fuel SymposiumVancouver, CanadaNovember 17, 2017

LANA Van MARTER , A.A.E., I.A.PCommercial Development Manager

Safe Harbor Statement

The following information contains, or may be deemed to contain, “forward-lookingstatements”. These statements relate to future events or our future financialperformance, including, but not limited to, strategic plans, potential growth, plannedoperational changes, expected capital expenditures, future cash sources and requirements,liquidity and cost savings that involve known and unknown risks, uncertainties and otherfactors that may cause Neste Corporation’s or its businesses’ actual results, levels ofactivity, performance or achievements to be materially different from those expressed orimplied by any forward looking statements. In some cases, such forward-lookingstatements can be identified by terminology such as “may,” “will,” “could,” “would,”“should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,”“potential,” or “continue,” or the negative of those terms or other comparableterminology. By their nature, forward-looking statements involve risks and uncertaintiesbecause they relate to events and depend on circumstances that may or may not occur inthe future. Future results may vary from the results expressed in, or implied by, thefollowing forward-looking statements, possibly to a material degree. All forward-lookingstatements made in this presentation based on information presently available tomanagement and Neste Corporation assumes no obligation to update any forward-lookingstatements. Nothing in this presentation constitutes investment advice and thispresentation shall not constitute an offer to sell or the solicitation of an offer to buy anysecurities or otherwise to engage in any investment activity.

Theme:

• Production Capacity Expansion

• Enablers: Aviation Stakeholders

• ASTM Pathways

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• Aviation industry committed to carbon neutral growth

from 2020 onwards globally and regulatory support

emerging both in Europe and North America

• Norway 1% Renewable Jet Fuel blend by 2019

• EU – aviation included in REDII proposal

• California – proposal to include aviation in LCFS program

• Jet fuel market expected to grow by 100 Mton within

next 10 years

• Large volume potential: e.g. At San Francisco International

Airport 5% of Renewable Jet Fuel equals 158 kton/a dd

• At Vancouver International Airport 5% of Renewable Jet

Fuel equals 59 kton/a dd

• Role of renewable fuels as carbon reduction measure in

aviation well acknowledged

Aviation preparing for carbon neutral growth

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Despite numerous test programs and commercial launch, widespread continuous use of RJF has not been achieved

Single test flights Several initiatives on

commercial passenger

flights (1000+)

Low % available at hydrant Widespread continuous use

?

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Volume

Time

We target 20% of sales outside road traffic by 2020

Aviation

Plastics

and other

chemicals

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Neste HQ:

Espoo

Porvoo, Naantali,

Rotterdam, Singapore,

Bahrain (Neste’s ownership

45%), Nynäshamn (Neste’s

ownership 49.99%)

PRODUCTION:

Espoo, Stockholm, Tallin,

Washington DC, Riga, Vilnius,

St. Petersburg, Geneva,

Beringen, Houston, Dubai,

Singapore

SALES AND MARKETING:

Neste is committed to fighting climate change and making air travel more sustainable

Singapore

• The world’s largest

renewable diesel refinery

• ~8 MMbbl/yr

The Netherlands

• The world’s largest

renewable diesel refinery

• ~8 MMbbl/yr

Finland

• The world’s first

renewable diesel refinery

• ~3 MMbbl/yr

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Program: Capacity Increase

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Continue debottlenecking of existing units by 15% to 3 Mton/a by 2020

• Singapore plant turnaround is scheduled in 2018

Finalize feasibility studies for a new up to 1 Mton/a capacity by end 2017,

aiming at final investment decision by end 2018

• Target to have new production unit operational by 2022

Capacity increase program continues with concrete

steps aiming at 4 million tons capacity by 2022

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ENABLERS: Sustainable Aviation Fuel

Airport

authority

Airlines

Academia

& NGOs

Government Fuel

Suppliers

Passengers

Local

corporations

Local

community

• Broader product portfolio

• Enhanced value proposition to customers

• Value to Society / Meet obligations

• Enhanced brand value

• Be the Airline of Choice

• Stronger passenger value prop

• Legitimacy for growth

• Lower their carbon footprint

• Loyalty program rewards

• Self-fulfilment / Recognition• Achieve sustainability goals

• Be the Airport of Choice

• Solve fuel-related issues

• Leader in fighting climate change

• Addressing concerns of voters

• Job creation

• Energy diversification

• CSR sustainability goals

• Value to employees, owners

and Board

• Marketing and PR value

• Better air quality

• Engaged and happy

community

• Contribution to fight

against climate change

• Job creation

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Neste cooperation with leading aviation brands

HEFA used in

1,187 scheduled

flights

Testing begins

on the HFP

HEFA for a new

RJF

specification

Oslo Airport

Gardermoen is the

world's first airport

to offer HEFA to all

flights (ITAKA)

2011 2014 2016 2017

1 % blend of

renewable jet

fuel starting

late 2018

Memorandum of

Understanding

on Renewable

Jet Fuel

2017

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Clear roadmap in place to tap into wastes and residues

We aim to have access to up to 20% of the available

waste and residue streams by 2021

• Developing traceability and certification for

residues by 2020

• Opening up new feedstock markets in South

America and China

• Developing platforms for feedstock trading

operations

• Investing in new pre-treatment technology

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Neste’s leading role in decarbonizing society

Have no fear,

embrace change

Remove waste from

the world

Create responsible

choices

Expanding to new

markets and solutions to

de-carbonise the world

We are driving circular

economy by turning waste and

residues into renewable fuels

and materials

We offer sustainable

solutions that make sense

to people and society

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This is an opportunity for all of us.Sustainability-minded

companies and stakeholders

will lead change across the

industry by joining forces.

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“The best way to predict the future,

is to create it”

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