The Aemetis Biorefinery produces advanced renewable fuels and chemicals by converting existing biofuels facilities. It owns and operates 115 million gallon per year renewable fuels and chemicals plants in the US and India. Aemetis has patented technology to upgrade facilities to produce advanced biofuels from non-food feedstocks at lower costs than traditional fuels. This allows it to generate strong positive cash flow while significantly reducing carbon emissions.

1. March 2014
The Aemetis Biorefinery
Advanced Renewable Fuels and Chemicals Produced
by Conversion of Existing Biofuels Facilities

2. Certain of the statements contained herein may be statements of future expectations and other forward-looking statements
that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In
addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends,
anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements.
Actual results, performance or events may differ materially from those projected in such statements due to, without limitation:
(i) general economic conditions, (ii) ethanol and gasoline prices, (iii) commodity prices, (iv) distillery grain soluble markets, (v)
persistency levels, (vi) transportation rates for rail/trucks, (vii) interest rate levels, (viii) ethanol imports, (ix) changing levels of
competition, (x) changes in laws and regulations, including govt. support/incentives for biofuels, (xi) changes in process
technologies, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv)
general competitive factors on a local, regional, national and/or global basis, (xv) natural gas and steam prices, and (xvi)
chemicals and enzyme prices.
The matters discussed herein may also involve risks and uncertainties described from time to time in the company’s annual
reports and/or auditors’ financial statements. The company assumes no obligation to update any forward-looking information
contained herein, and assumes no liability for the accuracy of any of the information presented herein as of a future date.
Disclaimer

3. Agenda
 Introduction
 Background
 Recent / Future Developments
 Team
 Value Proposition

4. Key Highlights: Aemetis, Inc.
• Founded in 2006 with headquarters in Cupertino, California
• Largest biofuels producer in California; Largest US biofuels producer in Asia
• Owns/Operates 115 mgy renewable fuels and chemicals plants in US and India
o Acquired Cilion, Inc. 60 mgy ethanol plant in Keyes, CA (2012) (build cost $145M)
o Built 50 mgy advanced biofuel plant in Kakinada, India (2008) (build cost $22M)
• First upgraded corn ethanol facility approved by the EPA to produce D5
Advanced Biofuels using the milo/biogas/CHP pathway
• Acquired Zymetis, a renewable fuels/chemicals biotechnology company, in 2011
o 5 granted patents on enzyme and microbe technology for biofuels/chemicals production
o Operates biotechnology research and development laboratory at Maryland Biotech Center
• Strong positive cash flow in the higher-margin California biofuels market
• 125 employees worldwide
• Key Customers:
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5. TimelineKey Company Milestones
February 2007 US: Acquired Energy Enzymes - former Department of Energy funded enzyme
technology for enzyme production and integration
November 2008 India: Built and commissioned 50 MGY advanced biofuels plant in Kakinada, India
Mid-2009 India: Obtained permits to sell biofuels into Europe, U.S. and Indian domestic market
April 2011 US: Retrofitted and restarted operations of 60 MGY ethanol plant in Keyes, California
owned by Cilion, Inc.
July 2011 US: Acquired Zymetis, Inc., a novel biorefining technology company, for its patent
portfolio and production process
January 2012 India: Completed construction of glycerin refining unit and obtained permits to sell into
domestic food and pharmaceutical markets in India
April 2012 India: Glycerin refining and oil pretreatment units commissioned at India plant
July 2012 US: Acquired 60 MGY Keyes ethanol plant through acquisition of Cilion, Inc.
June 2013 US: Achieved high-volume production of advanced biofuels using milo feedstock and a
Combined Heat & Power (CHP) system in an integrated process with traditional
feedstock by upgrading the Keyes plant
August 2013 US: Received EPA approval as the first converted corn ethanol plant to produce D5
Advanced Biofuels using milo, biogas and a Combined Heat & Power system
January 2014 India: Completed construction of distillation unit creating the only distilled biodiesel
plant in India, providing biofuel qualified for EU and US delivery

6. Biofuels Industry - Ethanol
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• Large Gasoline Market: 130 billion gallon gasoline market per year in US
• Ethanol Market: 14 billion gallons per year in US generates $40 billion revenues
• Capacity: 210 plants cost about $28 billion to construct
• Lowers Cost of Gasoline by up to $1.09 per Gallon: Replaces 10% of
gasoline in US, lowering cost at pump by replacing crude oil demand with
renewable fuel
• Provides 115 Octane
o More power – allows use of lower quality, lower cost crude oil to make gasoline
• Contains 30% Oxygen
o Cleaner burning gasoline – required by federal air quality laws
• Not Subsidized
o Federal blender tax credit ended Dec 2011
o Biofuels do not receive tax-free Master Limited Partnership (MLP) status
o No military costs required for protection of foreign oil fields or shipping lanes

7. Biofuels Industry - Biodiesel
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• Large Diesel Market: 50 billion gallon per year diesel market in US
• Biodiesel Capacity: About 2 billion gallons per year of US biodiesel
production capacity generates about $8 billion of annual revenues
• High Cost of Vegetable Oil Feedstock
• Soy oil process (majority of feedstock used) = Costs about $4 per gallon
• Biodiesel sales price above $4 per gallon due to high cost feedstocks
• Provides Lubricity for Ultra Low Sulfur Diesel (ULSD)
o More lubrication for engine
o Allows use of diesel with lower sulfur content and lower emissions
• Not Subsidized
o Federal $1 per gallon biodiesel blender tax credit ended Dec 2013
o Biofuels do not receive tax-free Master Limited Partnership (MLP) status
o No military costs required for protection of foreign oil fields or shipping
lanes for biodiesel feedstock or delivery

8. Agenda
 Introduction
 Background
 Recent / Future Developments
 Team
 Value Proposition

9. • Original Build Cost $132 million in 2008
o Also $15 million (cost ) for extra equipment
• Aemetis acquired 100% in July 2012
o $15 million cash
o 11% of Aemetis common stock
• Operating at 120% of nameplate capacity
• 420,000 tons of animal feed per year
• Original Build Cost $22 million in 2008
• Built by Aemetis
• Non-food feedstock
o Byproduct of edible palm oil
• Refined glycerin for pharma and industrial
customers
• Only large distilled biodiesel producer in India
Facility Overview
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60 mgy Ethanol Plant - Modesto, CA
50 mgy Biodiesel Plant - Kakinada, India

10. California 60 MGY Ethanol & DDG Plant

11. India Plant PicturesIndia 50 MGY Biodiesel & Glycerin Plant

12. • Aemetis upgrades ethanol and biodiesel plants with advanced technology,
feedstocks and new processes to produce advanced biofuels products
o Demonstrate upgrades at Aemetis plants, then acquire or joint venture with existing
biofuels facilities to deploy technology
• Aemetis already built and operates advanced biofuels plants in India and US
o Non-food feedstocks
o Waste stearine producing biodiesel; Grain sorghum producing advanced ethanol
o Geographic and feedstock diversity
o Global customer base in Europe, US and Asia
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Plant Upgrade Strategy

13. • Larger Markets:
o Advanced Ethanol = 16 billion gallon market by 2022 = $50 billion, larger market than Gen1
o Advanced Biodiesel from cellulose/other sugars = 10 billion gallons = $40 billion new market
• Lower Capital Costs:
o Acquire plants or JV with existing Gen 1 biofuels facilities at significant discount
o Leverage Gen 1 capital equipment, permits, operating personnel, vendors
• Lower Operating Costs:
o Non-food ag waste and low-cost sugar feedstocks do not compete with food supply
o Feedstock geographic diversity
o Sequester carbon in byproducts = reduce greenhouse gases = high value byproducts
• Higher Margins:
o Gen 2 Feedstocks – Agricultural waste and low-cost sugars with limited alternative markets
o Gen 2 Biofuels/Biochemicals - Higher product value and carbon sequestration value
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Upgrade Gen 1 to Advanced Biofuels

14. Improved Profitability
Aemetis Technology Projected to Significantly Increase Profitability
G2
D5 Advanced Ethanol (Milo)
D4 Advanced BioDiesel (Cellulose/Sugar)
D6 Traditional Ethanol (Corn)
$0.50 per Gallon $0.70 per Gallon
D5 Advanced Biofuels using Milo,
Biogas and Combined Heat & Power
$1.50+ per Gallon
Sustainable High Margins
Due to Patented Technology
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G1
Existing Biofuels Plants

15. Lower Carbon Fuels
Aemetis Technology Projected to Significantly Reduce Carbon Content of Biofuels
G2
Advanced Biofuel - Milo
Advanced Biofuel – AgWaste/Sugars
Traditional Ethanol - Corn
80 Carbon Units 46 Carbon Units <30 Carbon Units
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G1
17% reduction in Carbon Intensity vs. Gasoline
Gasoline = 96 Carbon Units
52% reduction in GHG emissions 70% or more reduction in GHG emissions

16. Agenda
 Introduction
 Background
 Recent / Future Developments
 Team
 Value Proposition

17. • August 2013: EPA approved Aemetis California 60 mgy ethanol plant as
Advanced Biofuels facility – First plant in US
o Corn  Milo (grain sorghum)
• Keyes plant advantage: Located 40 miles from deep water Pacific port in Stockton = import less
expensive milo from Argentina and Texas, rather than use higher priced Midwest milo
o Natural Gas  Biogas (from landfills)
• Keyes plant advantage: Can acquire biogas supply due to steam turbine in place
o Grid Electricity  Combined Heat & Power
• Keyes plant advantage: Expensive steam turbine already installed and operating due to the high
cost of California power, unlike other plants in CA and Midwest that use coal
• Jan 2013: India government increased diesel price 25% to equal world price by
mid-2014
o Operating margins for biodiesel sales to India customers increase significantly during 2014
o Cash flow provides debt-free India plant
• Nov 2013: EU issued 5-year Anti-Dumping tariff blocking Argentina and
Indonesia biodiesel
o US already subject to five-year anti-dumping tariff in EU
o Malaysia and India are remaining suppliers to EU
o Aemetis India plant distilled biodiesel is highest quality product at low cost
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Recent Favorable Policies

18. Agenda
 Introduction
 Background
 Recent / Future Developments
 Team
 Value Proposition

19. • Eric McAfee, Chairman and CEO, Founder
o Founder of Aemetis in 2006; Pacific Ethanol (Nasdaq: PEIX); Evolution Petroleum (NYSE: EPM);
Procera Networks (Nasdaq: PKT); founded biofuels companies that produce more than $1 billion
per year of annual revenues
o GlobalScot appointed by First Minister of Scotland to advise on renewable energy
• Harold Sorgenti, Director
o Former President/CEO of ARCO Chemical Company (12 years including IPO)
o Principal of Sorgenti Investment Partners (chemical investments)
• John Block, Director
o Former Secretary of Agriculture from 1981-86 under President Reagan
o Food industry executive for 18 years
• Fran Barton, Director
o Former CFO of several multi-billion-dollar revenues companies: AMD, Atmel, Amdahl, UTStarcom,
Digital Equipment (PC division)
• Dr. Steven Hutcheson, Director
o Founder of Zymetis, Inc.
o 25 years bacterial molecular biology and molecular genetics at University of Maryland
o PhD University of California Berkeley in cellular biology
Board of Directors
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20. • Eric McAfee, Chairman and CEO
• Andy Foster, President, AE Advanced Fuels
o Eight years in biofuels industry with Aemetis
o Extensive high tech/govt background, including White House and Governor staff
• Sanjeev Gupta, Managing Director, Universal Biofuels (India)
o Seven years with Aemetis; former President of $250 million global specialty chemical company
o Nabisco Brands - India
• Todd Waltz, CFO
o Six years with Aemetis; former Ernst & Young, Litton Industries (5 years) and Apple, Inc. (12 years)
• Jarrett Hollis, Senior Vice President, Plant Operations
o Plant manager of large Midwest and California ethanol plants for 15 years
o Plant manager of 55 mgy Cilion plant startup in 2008 as new facility and restart 2011
• Michael Rosa, Senior Vice President, Plant Engineering
o Land-O-Lakes (33 years); large-scale food-processing facility construction
o Plant engineer for construction and retrofit of $130 million Cilion plant
Senior Management Team
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21. Agenda
 Introduction
 Background
 Recent / Future Developments
 Team
 Value Proposition

22. Aemetis Value Proposition
 Strong positive cash flow from $180 million biofuels/biochemicals revenues
 Operating plants in California and India cost $165 million to construct/upgrade
 Patented technology to produce advanced fuels by upgrading facilities
 High efficiency production with significant scalability at low cost
 Lower cost than traditional gasoline and diesel, with high oxygenate/octane
 Strong management and board leadership with proven track record
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23. Advanced Renewable Fuels and Chemicals Produced
by Conversion of Existing Biofuels Facilities
www.aemetis.com