First Quarter 2011 Financial Results (Supplemental Information)...First Quarter 2011 Financial...

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[ 1 ] First Quarter 2011 Financial Results (Supplemental Information) May 5, 2011

Transcript of First Quarter 2011 Financial Results (Supplemental Information)...First Quarter 2011 Financial...

Page 1: First Quarter 2011 Financial Results (Supplemental Information)...First Quarter 2011 Financial Results (Supplemental Information) May 5, 2011 CONFIDENTIAL [ 2 ] Safe Harbor Summary

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First Quarter 2011Financial Results

(Supplemental Information)

May 5, 2011

Page 2: First Quarter 2011 Financial Results (Supplemental Information)...First Quarter 2011 Financial Results (Supplemental Information) May 5, 2011 CONFIDENTIAL [ 2 ] Safe Harbor Summary

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Safe Harbor Summary

This presentation includes forward-looking statements that are subject to many risks and uncertainties. These forward-looking statements, such as statements about Amyris’s short-term and long-term growth, can sometimes be identified by use of terms such as“intend,” “expect,” “plan,” “estimate,” “future,” “strive,” and similar words. These statements involve many risks and uncertainties that may cause actual results to differ from what may be expressed or implied in these statements. These risks are discussed in our Securities and Exchange Commission filings and reports, including the risks identified under the section captioned “Risk Factors” in our annual report on Form 10-K filed on March 14, 2011. We disclaim any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.

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Headlines

Production Cost, Volume on Plan First Product Sales Ramping Q2Production, Distribution and Off-take AgreementsReinforce Growth Outlook

• First Commercial Production Facility Complete

• All other Construction Projects on Schedule

• 5th Production Facility (Paraíso) Contracted

• Yield increasing

• Global Market Introduction of Renewable Squalane

Achievements

Impact

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1st Commercial Plant at Biomin

Biomin

Opening Reception

Amyris Fermentors

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São Martinho Site Preparation Underway

Partly Assembled Fermentor

(25%)

Site Preparation

Fermentor rings

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Technology Milestone

TechnicalYield

ProductivitySeparation Efficiency

Titer

Business Model

Scale

Production Cost Drivers Yield*

Oct 2010 Current

>16%

>20%

* Yield observed in fermentation of a particular strain at a particular scale

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De-risking Production Volume

2011-2012 Production Production Outlook (Millions of liters)

3 contract manufacturing sites

Facility at 3rd party site

São Martinho JV construction on

schedule

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Partnerships and Customers Support Growth Outlook

2011 2012

+ Niche Diesel

+ Amyris Lubricants

+ Squalane

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FINISHED PRODUCTS IN 6 VERTICALS

Farnesene (C15)

FERMENTATION

Expanding Beyond Farnesene to Grow Product Opportunities

PROPRIETARY BUILDING BLOCK

C10

ISOPRENE(C5)

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C5 and C10 opportunities added to existing C15 roadmap

HexeneOcteneDeceneAdipic acid

Isoprene

Squalane EmollientsLubricant base oilPlaticizers

2011 2012 2013 2014 2015 2016 Chemical example Fuel examples

Diesel

Biojet

Polyketides (C2n)& CarotenoidsTAM:

$15B (2015)

Additional isoprenoid pathwaysTAM: $13B (2015)C5s (Isoprene)C10sC15s

BioFene derivativesTAM: $38B (2015)

PineneLimoneneMyrcene

Addressable markets

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Accelerating Growth in Selected Verticals

2011

Fuels

Lubricants

ConsumerProducts

Polymers &PlasticAdditives

Flavors &Fragrances

Cosmetics

20202015 202020152014201320122011

Total Jet

Total Diesel (EU)

Base plan

Source: Amyris

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2011 Outlook: Key Metrics

PRODUCTION VOLUME

ASP

Non-GAAP OPERATING EXPENSE (1)

25-30%

6-9 MILLION LITERS

~$3.70/LITER

$120-$125 MILLION

PRODUCTION COST

$6-$7/LITER

CapEx (2) ~$75 MILLION

(1) GAAP Operating Expense outlook would also include ~$20 million stock compensation expense(2) Excludes CapEx for Paraíso pending determination of which funding option we will pursue

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Key Milestones to Build Value

Add Additional Contract Manuf. Capacity

T&L and Antibióticos Online – 3Q

Additional Supply Agreements -ongoing

Finishing Operations Online – 2Q

2011

Fulfill Planned Customer Off-take

Biomin ProductionOnline – 2Q

2012

Bring Paraíso and SMA on line

First Renewable Product Sale –1H11

First Lubricants Sale – 4Q

Execute on Upstream Capacity for 2013

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