Slide 1: Q2'2022 Results
We engineer enzymes to improve health… of people and the planet Q2’2022 Results August 4, 2022
Slide 2: Forward Looking Statements
Forward Looking Statements • These slides and any accompanying oral presentation 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
Slide 3: Strengthening Fundamentals Driving Impressive Results
Strengthening Fundamentals Driving Impressive Results Annual Product Revenues Strong Q2’22 Results Up Nearly 4x in Two Years1 140 120 $112M to $118M 100 80 $71M $mm Total revenue growth of 51% YOY 60 40 $30M 20 Quarterly product revenue >2X YOY - FY20 FY21 FY22E Product Revenue Product gross margin
Slide 4: Codexis Pipeline Snapshot – Performance Enzymes
Codexis Pipeline Snapshot – Performance Enzymes Commercial Pre-Commercial Pipeline vs. prior pipeline Sustaining Performance Enzymes Programs Total Revenues Pipeline Project or Product Category 06/30/2022 6/30/2021 Codexis Customer Product Sales Self-funded Partnered and/or Licensing Pharma Manufact
Slide 5: Codexis Pipeline Snapshot – Biotherapeutics
Codexis Pipeline Snapshot – Biotherapeutics Pre-Clinical Clinical Pipeline Biotherapeutics vs. prior pipeline Total Asset Pipeline Codexis Customer Codexis Customer 06/30/2022 6/30/2021 Self-funded Partnered Self-funded Partnered Discovery and Development of Biotherapeutics: Oral Enzyme Therapies 8
Slide 6: Strong and Growing Pipeline Opportunities
Strong and Growing Pipeline Opportunities Pipeline Distribution and Growth by Segment: 2018 - 2022 Jun '18 Jun '20 Jun'22 27 24 24 21 21 20 19 18 15 14 14 12 10 9 10 9 9 8 7 6 6 6 6 6 4 3 3 3 1 2 0 Clinical Phase Patented On-the- Generic Drugs Food, Beverage Industrial Life Sciences Biotherapeutics
Slide 7: Strong and Growing Pipeline Opportunities
Strong and Growing Pipeline Opportunities Performance Enzymes Pipeline Biotherapeutics Pipeline 80 30 70 60 22 2 20 50 14 40 1 15 30 9 37 10 6 20 30 21 7 10 7 7 7 11 0 4 0 2 Jun '18 Jun '20 Jun'22 Jun '18 Jun '20 Jun'22 Commercialized (Product Sales and/or Licensing) Pre-Commercial: Customer Partner
Slide 8: Sustainable Manufacturing: Solid, Growing Base & Continued Execution
Sustainable Manufacturing: Solid, Growing Base & Continued Execution • Doing Business with 21 of Top 25 Pharma Companies % of Performance Enzyme’s $91M 2021 Revenue • In 2Q’22: Sustainable ✓ $1M+ sales each - Merck, Allergan, Kyorin, Urovant Manufacturing - Food & Industrial ✓ Food: $1M+ led by Tate
Slide 9: Life Science Tools: High Growth
Life Science Tools: High Growth • Robust Life Science Tools Growth % of Performance Enzymes $91M 2021 Revenue o Zero in 2018 → $7.3M sales in 2021 o Products in pipeline: 8 → 21 over last two years Life Science Tools • Multi-prong Market Penetration Strategies 8% o Targets: NGS, DNA/mRNA synthesis o
Slide 10: Biotherapeutics: Rapid Pipeline Expansion & Validation
Biotherapeutics: Rapid Pipeline Expansion & Validation • CodeEvolver® platform - drug discovery engine Preclinical Clinical o Advancing discoveries to early clinical stage # of o Novel oral biologics and gene therapies Programs Discovery Research IND Enabling Phase I • Pipeline Value Creation Strate
Slide 11: Q2 2022 Results
Q2 2022 Results $38M $35M Q2’22 Total Q2’22 Product Revenue +51% Revenue +135% $36.5M $1.9M 67% $90M Performance Biotherapeutics Gross Product Margin Cash as of Enzymes vs. 71% in Q2’21 6/30/2022. No Debt $19M $11M $3M R&D Expense SG&A Expense Net Loss 11
Slide 12: Q2'22 Segment Financials
Q2’22 Segment Financials Performance Enzymes Biotherapeutics $36.5M $1.9M Q2’22 Revenue Q2’22 Revenue $14.5M ($9.9M) Q2’22 Income Q2’22 Loss from from Operations1 Operations1 Supported by $7.1M of corporate overhead expense (not allocated to either business segment) 1 Represents total revenues by se
Slide 13: 2022 Guidance
2022 Guidance $135-141M $112-118M 65-70% Total Revenue Product Revenue Product Gross Margin Cash Runway Through the end of 2024 13
Slide 14: Executing 2022 Corporate Goals and Catalysts
Executing 2022 Corporate Goals and Catalysts ❑ Continue driving widened adoption and product commercialization in pharma manufacturing Sustainable ❑ Step up new product offerings into larger, faster-to-commercialize food and industrial applications Manufacturing ❑ Deliver $75M enzyme sales to Pfizer
Slide 15: Looking to the Future
Looking to the Future Stephen Dilly Incoming Chief Executive Officer 15
Slide 16: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com