Avantium N.v. · EURONEXT:AVTX
Avantium — Shareholder Meeting (May 2024)
56 slides from Avantium's shareholder meeting presentation, May 15, 2024
Slide 1: Annual General Meeting of Shareholders – 15 May 2024
Avantium | Annual General Meeting of Shareholders – 15 May 2024 Avantium Annual General Meeting of Ca pitaShareholders l Ma rkets Da y 2023 Keynote presenta tion 15 May 2024 -- DRAFT -- 13 December 2023 1
Slide 2: Disclaimer
Discla imer Avantium | Annual General Meeting of Shareholders – 15 May 2024 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 o
Slide 3: Opening and Agenda items
Opening a nd Agenda items Avantium | Annual General Meeting of Shareholders – 15 May 2024 1 Opening 2 Annual Report for the financial year 2023 3 Corporate governance structure and compliance 4 Remuneration Report 2024 (advisory vote) 5 Adoption of the Annual Accounts 2023 (voting item) 6 Discharge
Slide 4: Annual Report for the financial year 2023
Avantium | Annual General Meeting of Shareholders – 15 May 2024 4 Annua l Report for the fina ncia l yea r 2023 2
Slide 5: Key themes / highlights 2023
Key themes / highlights 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Well capitalised Continued progress in Nearing the execution of strategy inflection point 5
Slide 6: Key business highlights 2023
Key business highlights 2023 Well ca pita lised a nd continued good progress in the execution of its stra tegy Avantium | Annual General Meeting of Shareholders – 15 May 2024 2023 ✓ Reached total of 15 offtake ✓ First technology license ✓ € 64.5 million financing ✓ Commissioning activities FDCA agre
Slide 7: We can almost touch it…
Avantium | Annual General Meeting of Shareholders – 15 May 2024 7 We ca n a lmost touch it…
Slide 8: First-of-a-kind FDCA Flagship Plant on stream in 2024
First-of-a -kind FDCA Fla gship Pla nt on strea m in 2024 Avantium | Annual General Meeting of Shareholders – 15 May 2024 • Sale of PEF & FDCA at commercial scale • Prove technology at 5kta scale • 10-year feedstock supply partnership with Tereos • First commissioning activities have started in Q1 2
Slide 9: Driving renewable & circular polymers
Driving renewa ble & circula r polymers Avantium | Annual General Meeting of Shareholders – 15 May 2024 Avantium at the centre of the eco-system 15 Offtake Agreements 1 Technology License Agreement 9
Slide 10: Market traction through wide range of applications
Avantium | Annual General Meeting of Shareholders – 15 May 2024 10 Ma rket tra ction through wide ra nge of a pplica tions
Slide 11: First license agreement signed with Origin
First license a greement signed with Origin Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Non-exclusive technology license agreement for conversion of 1st Generation: Origin-produced CMF derivatives into FDCA at a 100 kta scale Agricultural 2nd Generation: facility crops Wood e.g
Slide 12: Financial and ESG highlights
Avantium | Annual General Meeting of Shareholders – 15 May 2024 12 Fina ncia l a nd ESG highlights
Slide 13: Financial highlights full year 2023
Fina ncia l highlights full yea r 2023 FY 2022 FY 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 89.8 Revenue EBITDA Investments (€ millions) (€ millions) (€ millions) 34.0 17.8 19.7 -16.3 +11% +164% -68% -27.5 Other Income Cash Position* Borrowings (grants) (€ millions) 64.9 (
Slide 14: Cash flows 2023
Ca sh flows 2023 (€ millions) Avantium | Annual General Meeting of Shareholders – 15 May 2024 160 -2 140 -18 120 84 100 -90 80 60 40 -4 65 20 35 0 Cash at 31-12-22 Financing Other Financing Net Cash Used in CAPEX Investments Financing and Cash at 31-12-23 Drawdown Activities Operations Interest Expe
Slide 15: Non-financial highlights full year 2023
Non-fina ncia l highlights full yea r 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Newly 24 Number of Scope 1 304 Granted Employees 264 Emissions Patents (tonnes CO2e) 10 0.488 0.436 -58% +15% +12% Newly 52 Nationalities 36 Scope 2 649 Reported 43 Employed Emissions 25 Invent
Slide 16: Committed to sustainability – highlights 2023
Committed to susta ina bility – highlights 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Chain Reaction 2030 Solar powered Scope 3 emissions Celebrating diversity headquarters and lab baseline assessment completed & inclusion Sustainability Steering Board Weekend of Science: E
Slide 17: Corporate governance structure and compliance
3 Corpora te governa nce structure a nd complia nce Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Discussion item ▪ Reference is made to the Corporate Governance section, which is set out on pages 70 to 74 of our Annual Report 2023 17
Slide 18: Questions?
Avantium | Annual General Meeting of Shareholders – 15 May 2024 18 Questions?
Slide 19: Remuneration Report 2023 (advisory vote)
4 Remunera tion Report 2023 (a dvisory vote) Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Our Remuneration Report describes the implementation of the Remuneration Policy for the Management Board and the Supervisory Board in 2023, which is set out on pages 84 to 101 of our Annual
Slide 20: Questions?
Avantium | Annual General Meeting of Shareholders – 15 May 2024 20 Questions?
Slide 21: Preliminary Voting Results Remuneration Report 2023
Prelimina ry Voting Results Remunera tion Report 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,231,092 384,470 328,971 21
Slide 22: Adoption of the Annual Accounts 2023 (voting item)
5 Adoption of the Annua l Accounts 2023 (voting item) Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Reference is made to the Annual Report 2023, published on the website of Avantium ▪ Mr Westerman, partner PricewaterhouseCoopers Accountants N.V., presents the Auditor’s Report 22
Slide 23: Questions?
Avantium | Annual General Meeting of Shareholders – 15 May 2024 23 Questions?
Slide 24: Preliminary Voting Results Adoption of the Annual Accounts 2023
Prelimina ry Voting Results Adoption of the Annua l Accounts 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,609,386 26,726 308,421 24
Slide 25: Discharge of Liabilities
Avantium | Annual General Meeting of Shareholders – 15 May 2024 25 Discha rge of Lia bilities
Slide 26: Discharge from liability of Management Board members
Avantium | Annual General Meeting of Shareholders – 15 May 2024 6 Discharge from liability of members of the Management Board for the performance of their duties in financial year 2023 (voting item) 26
Slide 27: Preliminary Voting Results Discharge Management Board
Prelimina ry Voting Results Discha rge Ma na gement Boa rd 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,591,960 43,667 308,906 27
Slide 28: Discharge from liability of Supervisory Board members
Avantium | Annual General Meeting of Shareholders – 15 May 2024 7 Discharge from liability of members of the Supervisory Board for the performance of their duties in financial year 2023 (voting item) 28
Slide 29: Preliminary Voting Results Discharge Supervisory Board
Prelimina ry Voting Results Discha rge Supervisory Boa rd 2023 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,591,275 44,352 308,906 29
Slide 30: Remuneration Management Board
Avantium | Annual General Meeting of Shareholders – 15 May 2024 30 Remunera tion Ma na gement Boa rd
Slide 31: Proposal to adjust strike price ESOP and LTI entitlements
8 Proposa l to a djust strike price ESOP a nd number LTI entitlements Ma na gement Boa rd Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Reference is made to the proposal in the explanatory notes to the agenda ▪ It is proposed to the General Meeting to, solely with respect to the
Slide 32: Preliminary Voting Results Adjustment strike price ESOP
Prelimina ry Voting Results Adjustment strike price ESOP a nd number LTI entitlements Ma na gement Boa rd Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 22,374,940 3,254,322 351,271 32
Slide 33: Proposal to adopt the Management Board Remuneration Policy
9 Proposa l to a dopt the Ma na gement Boa rd Remunera tion Policy Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Reference is made to the proposal in the explanatory notes to the agenda and to the draft Remuneration Policy for the Management Board ▪ Following an extensive consult
Slide 34: Preliminary Voting Results Management Board Remuneration Policy
Prelimina ry Voting Results Adoption of the Ma na gement Boa rd Remunera tion Policy Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,272,814 347,802 323,917 34
Slide 35: Proposal to adopt the new LTIP (PSU Plan)
10 Proposa l to a dopt the new LTIP (PSU Pla n) Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ It is proposed to approve a new equity-based incentive plan in the form of a performance share units (PSUs) plan for the Management Board within the meaning of article 2:135 (5) DCC ▪ Av
Slide 36: Preliminary Voting Results Adoption PSU Plan
Prelimina ry Voting Results Adoption PSU Pla n Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,004,484 639,101 300,948 36
Slide 37: Proposal to adopt the Supervisory Board Remuneration Policy
11 Proposa l to a dopt the Supervisory Boa rd Remunera tion Policy Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Reference is made to the explanatory notes to the agenda and to the draft Remuneration Policy for the Supervisory Board ▪ Following an extensive consultation with shar
Slide 38: Preliminary Voting Results Supervisory Board Remuneration Policy
Prelimina ry Voting Results Adoption of the Supervisory Boa rd Remunera tion Policy Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,412,786 222,666 309,081 38
Slide 39: Proposal to adopt the RSU Plan
12 Proposa l to a dopt the RSU Pla n Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ Reference is made to the explanatory notes to the agenda and to the draft Remuneration Policy for the Supervisory Board ▪ It is proposed to the General Meeting to adopt a new equity-based incentive
Slide 40: Preliminary Voting Results Adoption of RSU Plan
Prelimina ry Voting Results Adoption of RSU Pla n Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,399,002 228,990 316,541 40
Slide 41: Supervisory Board Composition
Avantium | Annual General Meeting of Shareholders – 15 May 2024 41 Supervisory Boa rd Composition
Slide 42: Re-appointment Mrs. M. Jou (voting item)
13 Re-a ppointment Mrs. M. Jou (voting item) Avantium | Annual General Meeting of Shareholders – 15 May 2024 ▪ See the proposal in the explanatory notes to the agenda ▪ Video Michelle Jou 42
Slide 43: Preliminary Voting Results Re-appointment Mrs. M. Jou
Prelimina ry Voting Results Re-a ppointment Mrs. M. Jou Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,468,564 159,164 316,805 43
Slide 44: Authorisation Shares
Avantium | Annual General Meeting of Shareholders – 15 May 2024 44 Authorisa tion Sha res
Slide 45: Designation of Management Board to issue up to 8% shares
Avantium | Annual General Meeting of Shareholders – 15 May 2024 14a. Designation of the Management Board to issue up to 8% ordinary shares and to exclude pre-emptive rights for general corporate purposes (voting item) 45
Slide 46: Preliminary Voting Results Designation up to 8% shares
Prelimina ry Voting Results Designa tion of Ma na gement Boa rd to issue up to 8% ordina ry sha res Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,530,803 104,516 309,214 46
Slide 47: Designation of Management Board to issue up to 2% shares
Avantium | Annual General Meeting of Shareholders – 15 May 2024 14b. Designation of the Management Board to issue up to 2% ordinary shares and to exclude pre-emptive rights in connection with the Company’s long term incentive and share-based compensation plans for employees, management team and Mana
Slide 48: Preliminary Voting Results Designation up to 2% shares
Prelimina ry Voting Results Designa tion of Ma na gement Boa rd to issue up to 2% ordina ry sha res Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 25,529,281 104,381 310,871 48
Slide 49: Other (corporate) affairs
Avantium | Annual General Meeting of Shareholders – 15 May 2024 49 (corpora te) a ffa irs Other
Slide 50: Appointment of PwC as external auditor for 2024
Avantium | Annual General Meeting of Shareholders – 15 May 2024 15. Appointment of PricewaterhouseCoopers Accountants N.V. as external auditor for the financial year 2024 (voting item) 50
Slide 51: Preliminary Voting Results Appointment of PwC
Prelimina ry Voting Results Appointment of PwC Accounta nts N.V. a s externa l a uditor for 2024 Avantium | Annual General Meeting of Shareholders – 15 May 2024 Preliminary Voting Results: For Against Abstained 17,881,103 524,887 7,538,543 51
Slide 52: Any other business (including Q&A)
Avantium | Annual General Meeting of Shareholders – 15 May 2024 52 Any other business (including Q&A) 16.
Slide 53: Preliminary voting results
Prelimina ry voting results Avantium | Annual General Meeting of Shareholders – 15 May 2024 No. Agenda item Outcome 4 Remuneration Report 2023 (advisory vote) Adopted 5 Adoption of the Annual Accounts 2023 Adopted 6 Discharge from liability of members of the Management Board for the performance of A
Slide 54: Preliminary voting results (cont'd)
Prelimina ry voting results (cont’d) Avantium | Annual General Meeting of Shareholders – 15 May 2024 No. Agenda item Outcome 11 Proposal to adopt the Supervisory Board Remuneration Policy Adopted 12 Proposal to adopt the RSU Plan Adopted 13 Re-appointment of Mrs. M. Jou Adopted 14 (a) Designation of
Slide 55: Closing
Avantium | Annual General Meeting of Shareholders – 15 May 2024 55 Closing 17.
Slide 56: Avantium | Annual General Meeting of Shareholders – 15 May 2024
Avantium | Annual General Meeting of Shareholders – 15 May 2024 56