Amyris

1
October 5, 2016
Copyright © 2016 Amyris, Inc. All rights reserved.
Company overview
October 2016

2
October 5, 2016
FORWARD LOOKING STATEMENTS
This presentation and oral statements accompanying this presentation contain forward-looking statements, and any statements other than historical facts
could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such
as future product sales and product sales growth rates, future product engineering, development, production and scale-up, the ability of Amyris to disrupt
existing markets, future farnesene production costs, future collaboration inflows and profit sharing revenues, and future product performance, 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 Amyris’s liquidity and ability to fund operating and capital expenses, timing and execution risks associated with
manufacturing, uncertainty regarding timing of closing transactions and growth in sales, potential delays or failures in development, production and
commercialization of products, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the “Risk Factors” section of Amyris’s quarterly
report on Form 10-Q filed on August 9, 2016. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as
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 oral statements accompanying this presentation may include discussion of non-GAAP financial measures. Reconciliation of these non-GAAP measures
to the most comparable GAAP financial measures is contained in Amyris’s earnings press release for the second quarter of 2016, which is available at
investors.amyris.com.
Non-GAAP revenue represents GAAP product revenue plus the cash received from collaborations and grants. Non-GAAP revenue is calculated using GAAP
revenues and adding the related changes in accounts receivable and deferred revenue related to revenue recognized for these collaborations and grants to
equal funds received during the period, along with any funding associated with collaborations.
Cautionary Notes

3
October 5, 2016
Our Goal
Making renewable products mainstream

4
October 5, 2016
Amyris at a glance
Brands with “Amyris
inside”
over
500
Consumers touched by
Amyris
150M
Commercial products
15
Collaboration &
Strategic partners
16
c.a.$50M
Avg. collaboration
inflows/yr
Product sales growth
c.a.50%
Product Pipeline
18
Products

5
October 5, 2016
Disrupting global markets with our technology platform
1 Engineer a living
factory
Emeryville, CA, USA
2
Low-cost
production at our
fermentation
facility
Brotas, Brazil
3 Commercialize
through
collaboration
partners
b Formulate and sell
through strategic
partnerships

6
October 5, 2016
Our integrated technology platform provides access to a
nearly unlimited ingredients market

7
October 5, 2016
Accelerating the speed of product development
Predictable time to market, beating customer expectations

8
October 5, 2016
Our 614 issued and pending patents provide significant entry
barriers and a strong, sustainable competitive advantage
Biosynthetic
pathways
Products
Platform technology
Broad coverage of isoprenoid
biosynthesis in microbes
Across performance materials,
fuels, lubricants, personal care
products
• Automated DNA design
and assembly
15825 pending
20379 pending
344192 pending
• High-throughput
screening methods
• High speed genome
Editing (HI-RYSE™)
• Optimized
fermentation
methods

9
October 5, 2016
The value to our customers: high performance, lower
cost and reliable ingredients supply
Low cost
producer
High
performance
Reliable supply,
stable price
Sustainably
produced
High
investment
returns

10
October 5, 2016
Clear leadership in advancing the bio-economy from engineering
microbes to production of multiple commercial products
Bill Gates funds Amyris
to produce a synthetic
version of Artemisinin,
an anti-malarial drug
Sanofi licenses Amyris
anti-malarial
development
technology
2010: Amyris IPO, focusing
on biofuels market
2014: Commercial
scale fermentation
issues resolved and
significant decline in
production cost
attained
2014: 1st fragrance
product developed
and sold to partner
2015: 2nd fragrance
product successfully
scaled and planned
for shipment in Q4
2015: Launched two
first consumer
brands: Biossance
and Muck Daddy
2015: Farnesene
production costs
hit record low
$2.18/liter
2015: microPharm
platform for drug
discovery
launched
2012: Issues identified
in commercial scale-up
of Brazil fermentation
plant (Brotas)
2015: Converted $180M
of debt to equity
2010
2005
2015
2020

11
October 5, 2016
Target developing and producing 3 new molecules per
year through 2020
2016
4Fermentation
products
2020
16Fermentation
products
Farnesene
Farnesene products
Squalane
Hemi-squalane
Myralene
Fene
HP fene
Flavor & Fragrance
Nutraceuticals
Solvents
Diesel
Jet fuel
Biossance
Muck Daddy
Fragrance 2
Fragrance 1 Our technology platform
can access a nearly
unlimited supply of
ingredients without the
need to invest in a new
production facility for each
productArtemisinic
Acid

12
October 5, 2016
Farnesene demand is surging and will drive revenue
growth over the next several years
0
20
40
60
80
100
120
2016 2017 2018 2019 2020
MetricTonnes('000)
Estimated farnesene demand potential
Nutraceuticals Cosmetics Polymers/adhesives Tires/LFR/Other Solvents, incl Myralene
> 80% contracted

13
October 5, 2016
0
5
10
15
20
25
30
35
40
45
Present
$2.51/L (2015 avg.)
Dec 2012: Fene produced at Brotas, Brazil
Dec 2014: Ops streamlined,
production cost lowered
April 2015: 2nd generation fene strains
Visibility to
<$1.0/L
Technology Scale
Process
improvement
Co-products
Productioncostperliter
($/L,non-GAAP)
Late 2006: Farnesene (fene) identified as target
Mid 2007: First drop of fene
Mid 2010: Liters of fene
Years
Farnesene: game changing cost evolution
Present
Present
Drivers to production $1.0/L:
• Co-products
• Low cost feedstock
• Continued technology innovation

14
October 5, 2016
Our distinctive collaboration business model funds
R&D and eliminates risk to market access
1 2 3 4Target Develop Supply Profit split
Upfront
funding
Milestone
payments from
partner
Sale and profit on
shipment to
partner
Split profit on
partners
downstream sale
Benefits of model
• More than covers direct R&D costs
• High investment returns from funded development
• Long-term annuity from product profit share

15
October 5, 2016
Potential Partner
Targeted
Expected
Closing
Upfront/Milestone
Payment
Product
Supply
Agreement
Cosmetic Ingredients #1 2016
µPharm #1 2016
Biotechnology #1 2016
µPharm #2 2016
Farnesene #1 2017
µPharm #3 2017
Pharmaceutical #1 2017
Fragrance #3 and #4 2017
Cosmetic Ingredients #2 2017
Agriculture #1 2017
Key near-term collaboration product pipeline opportunities
Targeted expected closing dates are estimated
Closed in Q2
Closed in Q2
Closed in Q3

16
October 5, 2016
2016 key objectives tracking
Sign large cosmetic ingredients
collaboration
Execute 2-3 pharma
collaborations
Successfully shift business
away from fuels
Scale and supply 2 new F&F
ingredients
Monetize non-core assets
Refinance debt
1
2
3
4
5
6
2 closed; 3rd in second half
Givaudan closed
No Q2 fuel sales; new agreements
shifted focus from fuel to pharma;
TOTAL partnership is sole fuel focus
Fragrance #2 completed
Novvi JV equity sale in Q2; first of 3
Partially done with senior loans;
expected finalization in second half
2016 Key Objectives Status

17
October 5, 2016
Q2 and YTD Highlights
Q2 SG&A expense
reduction
21%
Q3 expected
collaboration inflows
$18 -
$20M
Q2 Non-GAAP Revenue
$12.4M
+138% growth
Q2 GAAP Revenue
$9.6M
+23% growth
Q2 Product sales growth
47%
2016 Target Adjusted
Operating Expense
$70-
$75M
Best-ever quarter for signing new partnerships

18
October 5, 2016
Debt at June 30, 2016
● Issued a $10 million convertible note in May 2016, and a closed on a $5M shareholder loan in June 2016
● $157 million of the $229 million is convertible at various prices ranging from $1.14 to $7.07 per share
● $42.6 million of the $229.2 million of debt is mandatorily convertible at maturity held by Temasek and
TOTAL
Debt
Debt - June 30, 2016 Cash/ Debt Debt
$ millions Maturity Rate PIK Dec-15 Jun-16
Fidelity convertible notes Mar-17 3.0% Cash 15.3 15.3
Stegodon senior secured loans Feb-17 8.5-9.5% Cash 32.0 28.6
TOTAL R&D notes Mar-17 1.5% PIK 5.1 3.7
Tranche I convertible notes Oct-18 5.0% PIK 20.5 21.5
Tranche II convertible notes Jan-19 10.0% PIK 10.0 11.0
6.5% convertible notes May-19 6.5% Cash 52.1 52.1
9.5% convertible notes Apr-19 9.5% Cash/stock 56.2 48.5
May 2016 convertible notes Nov-17 Cash/Stock - 7.4
Shareholder loan May-17 13.5% Cash - 25.0
Brazil bank loans Various Various Cash 16.3 16.0
Other loans 0.4 0.1
Total Debt (ex-debt discount) 207.9 229.2
Unamortized debt discount (51.9) (47.8)
Total debt (net of debt discount) 156.0 181.4
Total debt (ex debt discount) 229.2
Less: Debt mandatorily convertible to equity at maturity (42.6)
Total debt (before discount), excluding mandatory convertible debt 186.6

19
October 5, 2016
Leading shareholders and Board of Directors
Geoff Duyk
John Melo
Patrick Yang
Former Global Head,
Technical Operations
Roche/Genentech
Philippe Boisseau
Carole Piwnica
Director, NAXOS
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 Williams
CFO, Intuit
Fernando Reinach
Managing Partner,
Pitanga Fund
John Doerr
Bram Klaeijsen
Former President,
Cargill Asia
Margo Georgiadis
President, Americas
Google
26%
28%
24%
2%
7%
3%
3%
2%
Main shareholders

20
October 5, 2016
15 commercialized products inside over 500 brands and reaching over
150 million consumers
16 industry leading collaboration partners funding R&D and
purchasing products with a long-term profit share
Best-in-class technology platform and microbe engineering
disrupting multiple markets
Flexible, low cost, industrial-scale production running at full scale
Proven business model delivering approximately 50% annual product
sales growth and increasing
Amyris investment highlights
11
22
33
44
55

Amyris

Recomendados

Recomendados

Mais conteúdo relacionado

Mais procurados

Mais procurados (20)

Destaque

Destaque (14)

Semelhante a Amyris

Semelhante a Amyris (20)

Mais de Carlos Vassallo

Mais de Carlos Vassallo (10)

Último

Último (20)

Amyris