Slide 1: Q4 & FY'2024 Results
Q4 & FY’2024 Results February 27, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements These slides contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actua
Slide 3: 2024: Strengthened Fundamentals
2024: Strengthened Fundamentals 1 Returned Pharma Biocatalysis business to a healthy growth trajectory 2 Reduced costs, strengthened balance sheet & defined a path to profitability Sets the stage to realize the value of the ECO Synthesis platform and toolbox 2 Provided February 27, 2025, as part of
Slide 4: Broad Utility of ECO Synthesis Platform and Toolbox
Broad Utility of ECO Synthesis Platform and Toolbox TIDES Europe 2024 ✓Highlighted use of double-stranded RNA ligase to increase efficiency of chemical synthesis ✓Synthesized Inclisiran using four different enzymatic methods Enzymatic siRNA Synthesis is Now a Near-Term Reality ✓Successfully complete
Slide 5: Continued Commercial Traction Across Pharma Biocatalysis and the ECO Synthesis Platform
Continued Commercial Traction Across Pharma Biocatalysis and the ECO Synthesis Platform Pharma Biocatalysis • Expanding reach across mid-tier pharma and large biotech → Already completed early-stage enzyme production for several customers in this category • Continue to identify new opportunities wit
Slide 6: ECO Synthesis Business Model: Stacking Layers of Revenue
ECO Synthesis Business Model: Stacking Layers of Revenue Key Components of our siRNA Manufacturing and Development Services 5 Provided February 27, 2025, as part of an oral presentation and is qualified by such, contains forward- looking statements, actual results may vary materially; Codexis discla
Slide 7: Anticipated 2025 Milestones
Anticipated 2025 Milestones • Achieve pilot scale production with ECO Synthesis Innovation Lab for GLP material • Sign a GMP scale-up partnership • Secure ECO Synthesis raw materials supply chain • TIDES USA & Europe annual meetings → Demonstrate purity & yield equivalent or better than phosphoramid
Slide 8: Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter and Full Year 2024 Financial Results (Excluding enzyme sales related to PAXLOVID ) $M, Except Per Share Amounts Three Months Ended December 31 Year Ended December 31 2024 2023 2024 2023 Product Revenue1 $9.8 $9.9 $36.8 $34.8 R&D Revenue $11.6 $8.5 $22.6 $27.2 Total Revenue1 $21.5 $18.
Slide 9: 2025 Guidance
2025 Guidance $64M–$68M $74 Million Cash, Cash Equivalents and Total 2025 Revenue Investments as of 12/31/24 Path to Cash Flow Positivity by End of 2026 8 Provided February 27, 2025, as part of an oral presentation and is qualified by such, contains forward- looking statements, actual results may va
Slide 10: Where We Go from Here
Where We Go from Here ECO Synthesis Platform: Altering the Oligonucleotide Manufacturing Landscape Next step: drive adoption of our disruptive technology Demonstrate how our solutions address real-world problems like purity and yield, starting with the double-stranded RNA ligase Leverage our Pharma
Slide 11: Key Learnings from siRNA Innovator Companies
Key Learnings from siRNA Innovator Companies ECO Synthesis is most compelling for big siRNA assets • A clear path forward is essential to commit to an enzymatic route of manufacture • Partnerships will be multi-faceted, often for multiple assets Small drug innovators need a full-service development
Slide 12: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com