Avantium N.v. · EURONEXT:AVTX
Avantium — Shareholder Meeting (January 2022)
37 slides from Avantium's shareholder meeting presentation, Jan 25, 2022
Slide 1: Extraordinary General Meeting of Shareholders 25 January 2022
Avantium | Extraordinary General Meeting 25 January 2022 AVANTIUM Extra ordina ry Genera l Meeting of Sha reholders 25 January 2022 1
Slide 2: Disclaimer
Discla imer Avantium | Extraordinary General Meeting 25 January 2022 This presentation has been prepared by Avantium N.V. (the “Company”). For the purposes of this notice, the presentation that follows (the “Presentation”) shall mean and include the slides that follow, the oral presentation of the s
Slide 3: Agenda items
Agenda items Avantium | Extraordinary General Meeting 25 January 2022 1 Opening 2 Appointment of Mr. Nils Björkman as member of the Supervisory Board (voting item) 3.a. Authorisation of the Management Board to issue Warrants and to exclude pre-emptive rights (voting item) 3.b. Authorisation of the M
Slide 4: Opening
Avantium | Extraordinary General Meeting 25 January 2022 4 Opening 1.
Slide 5: Attendees
Attendees Avantium | Extraordinary General Meeting 25 January 2022 Supervisory Board Management Board Other Edwin Moses Michelle Jou Tom van Aken Chairman CEO Joyce Leemrijse Margret Notary A&O Trudy Bart Welten Kleinsman Schoolenberg CFO Cynthia Nils Björkman Carmen Arnold Nominee Portocarero Gener
Slide 6: Issued capital
Issued ca pita l Avantium | Extraordinary General Meeting 25 January 2022 ▪ On the record date (end of day), 28 December 2021, the issued capital of the company consisted of: 31,286,447 total number of shares outstanding ▪ Total number of shares represented: 17,950,986 representing 57.4% of the tota
Slide 7: Supervisory Board Composition
Avantium | Extraordinary General Meeting 25 January 2022 7 Supervisory Boa rd Composition
Slide 8: Appointment of Mr Nils Björkman as member of the Supervisory Board
Avantium | Extraordinary General Meeting 25 January 2022 2. Appointment of Mr Nils Björkman as member of the Supervisory Board (voting item) 8
Slide 9: Appointment Nils Björkman
Appointment Nils Björkma n Avantium | Extraordinary General Meeting 25 January 2022 See the proposal in the explanatory notes to the agenda 9
Slide 10: Financing
Avantium | Extraordinary General Meeting 25 January 2022 10 Fina ncing
Slide 11: Final Investment Decision FDCA Flagship Plant
Avantium | Extraordinary General Meeting 25 January 2022 11 Fina l Investment Decision FDCA Fla gship Pla nt
Slide 12: The world's first plant to produce FDCA on a commercial scale
The world’s first pla nt to produce FDCA on a commercia l sca le Avantium | Extraordinary General Meeting 25 January 2022 Rendered image of the Flagship Plant design Greenfield plot @ Chemie Park Delfzijl 12
Slide 13: De-risking the road to commercialisation
De-risking the roa d to commercia lisa tion Pa ving the way for global roll-out of our PEF/FDCA Technology, while addressing $200B+ markets Avantium | Extraordinary General Meeting 25 January 2022 LABORATORY PILOT: 10t/a FLAGSHIP: 5kt/a INDUSTRIAL: > 100kt/a ▪ Amsterdam, 2008 ▪ Delfzijl, constructio
Slide 14: An eco system of partners
An eco system of pa rtners Avantium | Extraordinary General Meeting 25 January 2022 Committed pa rtners throughout the Ava ntium va lue cha in Engineering & Feedstock Polymerisation Converters Brand owners Consumers Construction Launching customers: Major food & beverage brand owner Funding partners
Slide 15: Three Key Conditions to FID are met
Three Key Conditions to FID a re met Avantium | Extraordinary General Meeting 25 January 2022 Avantium has taken the Final Investment Decision (FID) concerning the construction of the FDCA Flagship Plant as the Key Conditions thereto are now satisfied: 1. PEF market proven by obtaining sufficient of
Slide 16: Offtake commitments obtained
1. Offta ke commitments obta ined Avantium | Extraordinary General Meeting 25 January 2022 Colla bora tion with committed va lue cha in pa rtners ▪ 50% of the Flagship Plant FDCA capacity with additional capacity reservations to 67% ▪ Five conditional offtake agreements signed for the supply of FDCA
Slide 17: Engineering & Supply Chain condition satisfied
2. Engineering & Supply Cha in condition sa tisfied Avantium | Extraordinary General Meeting 25 January 2022 Engineering: ▪ Engineering, procurement and construction (EPC) contract for the FDCA Flagship Plant signed with Worley, with a contracted delivery date of Q4 2023 ▪ Sub-leasehold agreement wi
Slide 18: Financing for FDCA Flagship Plant secured
3. Fina ncing for FDCA Fla gship Pla nt secured Avantium | Extraordinary General Meeting 25 January 2022 Fully funded to ca sh flow positive opera tions Funding uses €192m ▪ Flagship Plant CAPEX: € 115 million (including contingeny) ▪ Running cost ARNP (OPEX): € 65 million ▪ Interest, other: € 12 mi
Slide 19: Avantium Renewable Polymers (ARNP) funding sources
3. Ava ntium Renewa ble Polymers (ARNP) funding sources Avantium | Extraordinary General Meeting 25 January 2022 1. Avantium Equity: €45 million investment by Avantium (€35 million already committed + plus additional €10 million to absorb costs delay ) (77.4% in ARNP) 2. Third Party Equity: €20 mill
Slide 20: €90 million Debt Financing
3. €90 million Debt Fina ncing Avantium | Extraordinary General Meeting 25 January 2022 By four reputa ble ba nks a nd government ba cked impa ct investment fund Invest-NL • Consortium of lenders comprising four Dutch banks (ABN AMRO Bank, ASN Bank, ING Bank, Rabobank) and the government backed Dutc
Slide 21: The issuance of Warrants to the lenders
3. The issua nce of Wa rra nts to the lenders Avantium | Extraordinary General Meeting 25 January 2022 ▪ The Debt Financing structure provides for upside in value creation once plant is in its commercial phase ▪ To that end, Avantium will grant 2.84 million number of Warrants, convertible into ordin
Slide 22: €45 million capital raise to fund other technologies
3. €45 million ca pita l ra ise to fund other technologies Avantium | Extraordinary General Meeting 25 January 2022 ▪ Avantium continues to develop its other technologies towards commercialisation ▪ Avantium seeks shareholders’ approval to issue €45 million in ordinary shares, preferably by means of
Slide 23: Scaling-up and commercialising plantMEG
Sca ling-up a nd commercia lising pla ntMEG™ Avantium | Extraordinary General Meeting 25 January 2022 Pla ntMEG™ ha s potentia l in existing ma rkets a nd a pplica tions LABORATORY PILOT COMMERCIAL INDUSTRIAL ▪ 2010 ▪ 2020 start-up ▪ 2025/2026 ▪ TBD ▪ Amsterdam ▪ Delfzijl ▪ Location TBD ▪ Global ▪ K
Slide 24: Avantium and Cosun Beet Company Join Forces
Ava ntium a nd Cosun Beet Compa ny Join Forces To jointly construct a nd opera te the first pla nt-ba sed glycols commercia l pla nt Avantium | Extraordinary General Meeting 25 January 2022 Envisioned Commercial Plant: • Jointly owned by Cosun Beet Co & Avantium • Products: • Ray plantMEG™ • Ray pla
Slide 25: Key value drivers: Avantium on track
Key va lue drivers Ava ntium on tra ck Avantium | Extraordinary General Meeting 25 January 2022 2021 2022-2024 FDCA / PEF ✓ Avantium has taken the Final Investment Decision • Following Financial Close, start construction FDCA on the construction of the FDCA Flagship Plant, Flagship Plant after fulfi
Slide 26: Concluding remarks
Avantium | Extraordinary General Meeting 25 January 2022 26 Concluding rema rks
Slide 27: A defining milestone in the evolution of Avantium
A defining milestone in the evolution of Ava ntium Avantium | Extraordinary General Meeting 25 January 2022 Extraordinary General All conditions to FID €45 million capital raise to successfully met Meeting of Shareholders finance next phase 1. Warrants to lenders - PEF market proven • Technologies s
Slide 28: Questions & Answers
Avantium | Extraordinary General Meeting 25 January 2022 28 Questions & Answers
Slide 29: Authorisation to issue Warrants (voting item 3.a)
Avantium | Extraordinary General Meeting 25 January 2022 3.a. Authorisation of the Management Board to issue Warrants and to exclude pre-emptive rights (voting item) 29
Slide 30: Authorisation to issue €45 million in ordinary shares (voting item 3.b)
Avantium | Extraordinary General Meeting 25 January 2022 3.b. Authorisation of the Management Board to issue €45 million in ordinary shares in connection with a public offering (preferable), rights issue, and/or private placements and to exclude pre-emptive rights (voting item) 30
Slide 31: Amendment Articles of Association (voting item 3.c)
Avantium | Extraordinary General Meeting 25 January 2022 3.c. Amendment Articles of Association re increase authorised share capital (voting item) 31
Slide 32: Other (corporate) affairs
Avantium | Extraordinary General Meeting 25 January 2022 32 Other (corpora te) a ffa irs
Slide 33: Any other business (including Q&A)
Avantium | Extraordinary General Meeting 25 January 2022 33 4. Any other business (including Q&A)
Slide 34: Preliminary voting results
Prelimina ry voting results Avantium | Extraordinary General Meeting 25 January 2022 No. Agenda item Outcome 2 Appointment of Mr. Nils Björkman as member of the Adopted Supervisory Board (voting item) 3.a. Authorisation of the Management Board to issue Warrants Adopted and to exclude pre-emptive rig
Slide 35: Questions?
Avantium | Extraordinary General Meeting 25 January 2022 35 Questions?
Slide 36: Closing
Avantium | Extraordinary General Meeting 25 January 2022 36 5. Closing
Slide 37: Thank you for your continued support!
Avantium | Extraordinary General Meeting 25 January 2022 Tha nk you for your continued support! Rendered image of the Flagship Plant design Greenfield plot @ Chemie Park Delfzijl 37