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Hans van der Pol , Ph.D. Strategic Marketing Director New Business Ventures

CORBION: DEVELOPING A BIOBASED PORTFOLIO

December 10/11, 2013

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o Corbion: • A Dutch multinational formed by former Purac and Caravan Ingredients • Headquartered in Diemen, The Netherlands • Listed at Amsterdam Stock Exchange (Corbion) • 2012 turnover € 750 million

o Focus on: • Natural food preservation • Biobased building blocks & chemicals • Monomers for bioplastics

o 80 years of experience in the development, production and marketing of natural and biobased chemicals

o Global sales network & manufacturing footprint

Corbion-Purac profile

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Dec 10/11 2013 2

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Corbion-Purac Global Presence

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Corbion-Purac Solutions address Megatrends

Resource scarcity

Population growth

Food security

FOOD ingredients provide safe and healthy

food for a growing population, while

preventing food waste

BIOCHEMICALS provide solutions based on

renewable materials and resource efficient

processes

Corbion

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Source of graphics: KPMG 2012, Expect the Unexpected

Dec 10/11 2013

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Corbion Portfolio Development: from Promise to Delivery

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Lactic acid and lactates

Succinic acid

Building on Corbion Purac core capabilities • Fermentation and down-stream processing • Salt-free production of organic acids • Purac global production sites & network

Partnership with:

L and D-Lactide

Acquisition

2014

FDCA

Propionates

Manufacturing: o Globally

o Thailand (75 kton)

o Spain

(Montmeló)

Partnership with:

2010

> 80 years experience

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Business development Lactides for PLA Solution provider and Enabler for Lactic acid based Bioplastics

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o 1983 Purac introduces PLA for the biomedical market

o 2008 5ktpa Lactide monomers plant in Spain

o 2009 PLA polymerization developed with Sulzer (CH)

o 2010 First commercial PLA plant installed at Synbra (NL)

o 2011 75 ktpa Lactide monomers plant in Thailand

o 2013 Several partnerships announced at K-show

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Start with the best Biobased Building Blocks: Stereochemically pure monomers make the difference

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L-lactide D-lactide

L-lactic acid D-lactic acid

O

O

O

O

(R,R)- lactideor D-lactide

O

O

O

O

(S,S)- lactideor L-lactide

O

O

O

O

(R,S)- lactideor meso-lactide

Building blocks used to make PDLA and PLLA homopolymers

Dec 10/11 2013

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PLA homopolymers: driving Performance

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D-Lactic Acid L-Lactic Acid

PLA Copolymer

PLA homo-polymers

PLA co-polymers

PLLA

PDLA

Stereocomplex interlocking structure: TM = 445°F / 230°C

Homopolymer chains crystalize fast and provide good heat stability TM = 355°F / 180°C

Irregular chains do not crystalize well and have a reduced heat resistance No TM

Tg = 130°F / 55°C

Stereo- complex

PLA

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Improved PLA performance opens up higher added value markets

Time

Durables

Semi-Durables

Disposables

Value & Performance

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Expanding portfolio with Succinic acid by combining Corbion-BASF bio and chemical Capabilities

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o Leading global position in lactic acid

and its derivatives for preservation,

bioplastics and biobased chemicals

markets

o Leading edge industrial fermentation

and downstream processing know-

how

o Existing manufacturing facilities for

succinic acid production

o Largest and most experienced

global producer of chemical

intermediates

o Strong succinic acid fermentation

know-how

o Downstream market expertise

BASF / Corbion : strong combination to develop

Biobased Succinic Acid as platform chemical

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Highly efficient Production process for Succinic acid

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BASF/Corbion strengths:

o High performing proprietary microorganism

o Innovative downstream purification process

o Better eco-efficiency compared to fossil production processes through:

• CO2 fixation

• Use of renewable resources

• Lean and efficient process

Targets:

o Start of new production: Q1/2014

o Market development ongoing

o C5/C6 substrates from biomass

Biomass/carbohydrates + CO2

Various applications

Succinic Acid

Bacteria convert sugars and biomass into succinic acid

Isolation of succinic acid from fermentation broth

09/11/2013

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Market Development Focus

1 I Biodegradable Polymers

3 I Plasticizer 4 I Polyurethanes

Biobased Succinic Acid Applications

2 I Pigments

Dec 10/11 2013

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Bio-FDCA to PEF Bottle Value Chain

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Sugars, starch or Biomass

C6 Sugars

HMF Production

FDCA Production

FDCA Recovery

PEF Polymer

Production

PEF Conversion

Brand-owner Retailer Consumer

Technology development Business development

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Meeting unmet needs in polymer applications

o Enhanced gas barrier properties o Mechanical properties o Favorable carbon footprint/LCA o 100% Biobased

Applications and Benefits of FDCA in polymers

PEF bottles Resins Coatings

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Cellulose options in the Pipeline: co-products from Industrial Production

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Empty corn cobs Wood Bagasse

C5/C6 (hemi-) cellulose products could be suitable feed-stocks for the next generation of bioplastics

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o Corbion is investing several million Euro in next generation feedstock development with various partners:

o Bio Process Facility (BPF)

o BE-Basic R&D program

• Global Industrial, Academic & Financial Partners

• Corbion is Research Member

o Oil Palm Biomass Centre (OPBC)

o Kluyver Centre

o VITO

o Institute for Sustainable Process Technology (ISPT)

o Dutch Separation Technology Institute (DSTI)

o BioBase Europe (BBE)

Corbion participates in various Programs focused at Biorefinery development

Dec 10/11 2013

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Corbion Purac has a strong Foundation in lactic acid • Fermentation technology • Down-stream processing technology New Technology development • New production strains allowing for product diversification • Proprietary salt-free process • Fermentation of next generation feedstocks Sustainability driven Innovations are translated into New Business Ventures • L-Lactic acid and D-Lactic acid for expanding range of applications in PLA • Lactides for performing PLA and chemical building blocks • Succinity JV with BASF for succinic acid • Building on core competences with FDCA and Propionates development • Enabling next generation feedstocks Corbion : A leading Sustainability driven Biobased Chemicals, Ingredients and Solutions Company

Conclusions

17 Dec 10/11 2013

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“Designed by Science, Powered by Nature and

delivered through dedication”

Bio Pacific Rim December 10/11 2013