Slide 1: Investor Presentation Annual results 2022
Avantium | Investor Presentation Annual Results 2022– Q2 2023 Investor Presenta tion Annua l results 2022 Q2 2023
Slide 2: Disclaimer
Discla imer Avantium | Investor Presentation Annual Results 2022– Q2 2023 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
Slide 3: Today's speakers
Toda y’s spea kers Avantium | Investor Presentation Annual Results 2022– Q2 2023 Tom van Aken Boudewijn van Schaïk CEO CFO Since 2002 Since 2023 25y of industry experience 20y of finance experience Selected previous experience: Selected previous experience: 3
Slide 4: 2022 Results
Avantium | Investor Presentation Annual Results 2022– Q2 2023 4 2022 Results:
Slide 5: 2022 was a transformative year
2022 wa s a tra nsforma tive yea r Evolving from a R&D compa ny into a la rge-sca le commercia l orga nisa tion Avantium | Investor Presentation Annual Results 2022– Q2 2023 2022 2023 ✓ Start construction FDCA Flagship Plant, ✓ Nine new offtake agreements PEF/FDCA Flagship ✓ First technology license
Slide 6: Financial Highlights 2022
Fina ncia l Highlights 2022 Avantium | Investor Presentation Annual Results 2022– Q2 2023 Revenue 17.8 Operating 43.1 Capex 43.4 (in € million) Expenses 33.7 Investments 10.9 (in € million) (in € million) 63% 28% 5.3 725% Grant Cash Outflow* 46.6 7.6 Borrowings (in € million) Recognition (in € milli
Slide 7: Cash and funding 2023 Liquidity
Ca sh a nd funding 2023 Liquidity Avantium | Investor Presentation Annual Results 2022– Q2 2023 Increase Decrease Total 15 120 Undrawn Millions 20 Debt Opening Cash 100 4 54% 46% 42 65 80 60 43 2 35 40 3 20 2023 Cash Outflow - Operating Activities 23% Finance Costs 6% Capex Investments 71% Figures a
Slide 8: Non-Financial Highlights 2022
Non-Fina ncia l Highlights 2022 Avantium | Investor Presentation Annual Results 2022– Q2 2023 Newly 24 Number of 249 Scope 1 Granted FTEs 213 Emissions Patents 17 (in tonnes CO₂e) 0.436 41% 17% Newly 52 Nationalities 25 Scope 2 Reported 39 Employed 20 Emissions Inventions (in tonnes CO₂e) 649 33% 25
Slide 9: Chain Reaction 2030 – At a glance
Avantium | Investor Presentation Annual Results 2022– Q2 2023 9 Cha in Rea ction 2030 – At a gla nce
Slide 10: Avantium at a glance: Introduction
Avantium | Investor Presentation Annual Results 2022– Q2 2023 10 AVANTIUM AT A GLANCE Introduction
Slide 11: Avantium at a glance: a leader in renewable chemistry
Ava ntium a t a gla nce: a lea der in renewa ble chemistry Avantium | Investor Presentation Annual Results 2022– Q2 2023 Who A leader in the high-growth industry of renewable chemistry within the we are ecosystem of the polyester value chain Our Develop and commercialize disruptive technologies and
Slide 12: Avantium: innovation-driven chemical technologies
Ava ntium: innova tion-driven chemica l technologies Producing chemica ls from renewa ble sources for a wide ra nge of consumer goods Avantium | Investor Presentation Annual Results 2022– Q2 2023 ▪ Two lead products: ▪ FDCA: the chemical building block for PEF ▪ plantMEG: sustainable and competitive
Slide 13: PEF is a 100% plant-based plastic made from FDCA and plantMEG
PEF is a 100% pla nt-ba sed pla stic ma de from our two core products FDCA a nd pla ntMEG™ Avantium | Investor Presentation Annual Results 2022– Q2 2023 13
Slide 14: Avantium's leading technologies in renewable chemistry
Ava ntium’s lea ding technologies in renewa ble chemistry Focused on pla nt-ba sed & a ir-ba sed pla stics a nd chemica ls Avantium | Investor Presentation Annual Results 2022– Q2 2023 FDCA Packaging Textile Technology PEF pipeline Films plantMEG™ Numerous other applications CO₂ High-value CO₂-based
Slide 15: Challenges cannot be solved by recycling only
Cha llenges ca nnot be solved by recycling only Avantium | Investor Presentation Annual Results 2022– Q2 2023 Global Carbon Demand for Chemicals and Derived Materials in 2020 and Scenario for 2050 (in million on tonnes of embedded carbon) America simply does not have enough recycled 1200 PET supply
Slide 16: Avantium's business model
Ava ntium’s business model From idea tion to la rge-sca le industria l ta ke-off Avantium | Investor Presentation Annual Results 2022– Q2 2023 Ideation 1 Feasibility 2 Development 3 Pilot Plant 4 Flagship Plant 5 Industrial take-off 6 Collaborations Own & operate Licensing Product validation Revenue
Slide 17: Successful execution of FDCA & PEF strategy
Avantium | Investor Presentation Annual Results 2022– Q2 2023 17 SUCCESSFUL EXECUTION OF FDCA & PEF STRATEGY
Slide 18: Avantium Renewable Polymers is ready to deliver
Ava ntium Renewa ble Polymers is rea dy to deliver Avantium | Investor Presentation Annual Results 2022– Q2 2023 Strong market momentum Strategy execution Robust commercial loading of FDCA Flagship Plant completed FDCA Flagship Plant: 14 offtake in 2024, with a clear path to agreements signed scale
Slide 19: Construction of FDCA Flagship Plant commenced in 2022
Construction of FDCA Fla gship Pla nt commenced in 2022 The world’s first pla nt producing FDCA on a commercia l sca le Avantium | Annual Results 2022 Presentation – Q2 2023 Location: ▪ Chemie Park Delfzijl (NL) ▪ Environmental permit in place Progress: ▪ Completed and Operational in 2024 ▪ 80% proc
Slide 20: PEF bottles
PEF bottles Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition Offtake agreements ▪ Lower carbon footprint ▪ Circular: recyclable alternative to non- recyclable packaging formats ▪ Longer shelf life for fresh products, beer, etc Major F&B ▪ Visually attractive b
Slide 21: PEF fibers
PEF fibers Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition Offtake agreements Lower carbon footprint Circular: recyclable alternative to non- PEF textile community recyclable packaging formats Stronger properties Main markets ▪ Textiles, upholstery, car tires
Slide 22: PEF films and other applications
PEF films a nd other a pplica tions Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition Offtake Agreements: Lower carbon footprint ▪ Films Circular: recyclable alternative to non- recyclable packaging formats ▪ Additive and color masterbatches Longer shelf life f
Slide 23: PEF's sustainability and performance profile
PEF’s susta ina bility a nd performa nce profile resulting in strong commercia l tra ction Avantium | Investor Presentation Annual Results 2022– Q2 2023 Enhanced product properties PEF PET 2.0x Unintended 10.0x 8.0x leakage Strong gas 1.0x 1.0x 1.0x barrier Degradable Oxygen CO₂ Water barrier barrie
Slide 24: PEF has enhanced product performance vs other plastics
PEF ha s enha nced product performa nce vs other pla stics Avantium | Investor Presentation Annual Results 2022– Q2 2023 Sustainability vs degradability Selected companies Plant- based PEF PLA PBS PHA PEF Bio- PET Most mature PEF player Fossil- based PE/PP rPET PLA Non-degradable Degradable PHA Barr
Slide 25: Avantium targets large and diverse PEF markets
Ava ntium ta rgets la rge a nd diverse PEF ma rkets Avantium | Investor Presentation Annual Results 2022– Q2 2023 Total expected PEF addressable market – 100mt+ value $200bn+ Top 20 Total Top 20 Total Packaging and Plastic users weight* Plastic users weight Mainstream bottles ($160bn) Coca-Cola appl
Slide 26: Well-defined and scalable go-to-market strategy for PEF/FDCA
Ava ntium ha s a well-defined a nd sca la ble go-to-ma rket stra tegy for PEF/FDCA Avantium | Investor Presentation Annual Results 2022– Q2 2023 Pilot Plant (10t/a) Flagship Plant(5kt/a) Industrial (100kt/a) Industrial (>250kt/a) Inhouse production Inhouse production External production External pro
Slide 27: Avantium and Origin Materials to accelerate mass production
Ava ntium a nd Origin Ma teria ls to a ccelera te ma ss production of FDCA a nd PEF for a dva nced chemica ls a nd pla stics Avantium | Investor Presentation Annual Results 2022– Q2 2023 ▪ Avantium entered into a non-exclusive technology license agreement, granting Origin a license to use certain pa
Slide 28: Clear path to growth: plantMEG
Avantium | Investor Presentation Annual Results 2022– Q2 2023 28 CLEAR PATH TO GROWTH Pla ntMEG
Slide 29: plantMEG is a key drop-in ingredient for large end-markets
pla ntMEG is a key drop-in ingredient for la rge end-ma rkets Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition plantMEG will provide brands with a sustainable & innovative ingredient Key ingredient in a wide range of Pilot Plant successfully end applications (
Slide 30: Addressable markets for plantMEG and plantMPG
Addressa ble ma rkets for pla ntMEG a nd pla ntMPG Avantium | Investor Presentation Annual Results 2022– Q2 2023 plantMEG addressable market plantMPG addressable market Total value today Total value today $23bn+ $3bn+ Solvent Unsaturated Polyester Resins Tomorrow Tomorrow PET Solvents $23bn+ Today P
Slide 31: Construction of plantMEG Commercial Plant
Construction of pla ntMEG Commercia l Pla nt Levera ging on the successful experience in FDCA Avantium | Investor Presentation Annual Results 2022– Q2 2023 Success of FDCA strategy execution will accelerate plantMEG Location Joint venture Size Northwestern Europe Jointly owned by Cosun Beet >100kt p
Slide 32: New cutting-edge technologies: Volta
Avantium | Investor Presentation Annual Results 2022– Q2 2023 32 NEW CUTTING-EDGE TECHNOLOGIES Volta
Slide 33: Volta: using electrochemistry to harness the power of CO2
Volta : using electrochemistry to ha rness the power of CO₂ Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition Unique patented CO2 technology to address tomorrow’s global carbon supply Volta technology produces World leading IP position and carbon negative key m
Slide 34: Utilizing CO2 as source for chemicals and polyesters
Utilizing CO₂ a s source for chemica ls a nd polyesters Avantium | Investor Presentation Annual Results 2022– Q2 2023 “ We use electricity as a renewable energy source. We use electrons as a reagent. This makes it the cleanest of technologies. We use CO2 as a feedstock. “ We turn waste carbon into v
Slide 35: Volta scale-up status: advancing to pilot stage
Volta sca le-up sta tus: a dva ncing to pilot sta ge Avantium | Investor Presentation Annual Results 2022– Q2 2023 2022: Successful deployment CCU demo units in real-world conditions ▪ A first mobile Volta demo unit operated with the world’s largest CO₂ conversion cell at an RWE power plant (Germany
Slide 36: R&D Solutions: Our foundation
Avantium | Investor Presentation Annual Results 2022– Q2 2023 36 R&D Solutions OUR FOUNDATION
Slide 37: R&D Solutions - driving sustainable innovation
R&D Solutions - driving susta ina ble innova tion within the chemica l industry Avantium | Investor Presentation Annual Results 2022– Q2 2023 Avantium value proposition Serving Growing Demand for R&D Solutions in Sustainable Chemistry Enormous R&D activities required The foundation of our company; f
Slide 38: Avantium R&D Solutions
Ava ntium R&D Solutions Avantium | Investor Presentation Annual Results 2022– Q2 2023 Aligned with Ava ntium’s susta ina bility & circula r solutions ▪ Capture opportunity in growing demand for R&D in sustainable chemistry solutions ▪ Profitably supply tailored R&D units in four markets for R&D into
Slide 39: Conclusion: From ambition to execution
Avantium | Investor Presentation Annual Results 2022– Q2 2023 39 CONCLUSION FROM AMBITION TO EXECUTION
Slide 40: In Summary: From Ambition to Execution
In Summa ry: From Ambition to Execution Avantium | Investor Presentation Annual Results 2022– Q2 2023 Plant Pricing and Market segments capacities profitability and geographic opportunity Milestone Number of industrial payments/ licenses per royalty technology fees Timing and Flagship Plant executio
Slide 41: Q&A
Avantium | Investor Presentation Annual Results 2022– Q2 2023 41 Q&A
Slide 42: Appendix
Avantium | Investor Presentation Annual Results 2022– Q2 2023 42 Appendix
Slide 43: Avantium: experienced leadership team
Ava ntium: experienced lea dership tea m Avantium | Investor Presentation Annual Results 2022– Q2 2023 Management Team Education: Education: Chemistry (Utrecht) and Economics Business Science (Accounting and (Amsterdam) Corporate Finance) (Cape Town) Selected previous / other positions: Selected pre
Slide 44: Avantium tomorrow: delivering the next biochemicals
Ava ntium tomorrow: Successfully delivering the next bio chemica ls from disruptive technologies Avantium | Investor Presentation Annual Results 2022– Q2 2023 Today Tomorrow PEF Building blocks CO2 based FDCA plantMEG Biorefinery polymers Catalytic conversion of plant- Conversion of sugars into Conv
Slide 45: Avantium's successful trajectory towards growth
Ava ntium’s succesful tra jectory towa rds growth Avantium | Investor Presentation Annual Results 2022– Q2 2023 20+ 156+ €192m 2 Strategic & 250+ 3 pilot plants & Years of R&D Patent Funding for Core products Employees 1 commercial Flagship Plant (FDCA and commercial plant under families secured pla
Slide 46: FDCA Flagship Plant financing fully secured
FDCA Fla gship Pla nt fina ncing fully secured Fina ncia l Close rea ched on 31 Ma rch 2022 Avantium | Investor Presentation Annual Results 2022– Q2 2023 Grants (€27m): Funding sources ▪ €20m PEFerence grant(1) ▪ €7.5m grant from the €45m National Programme Groningen Third Party Equity (€30m): €90m€
Slide 47: Numerous strategic collaborations & offtake agreements
Numerous stra tegic colla bora tions & offta ke a greements Avantium | Investor Presentation Annual Results 2022– Q2 2023 Development of PEF for beverage applications PEFerence (1) aims to establish an innovative supply chain for FDCA & PEF R&D collaborations High The PEF Textile Community aims to d
Slide 48: Illustrative revenue and profitability model
Illustra tive revenue a nd profita bility model Avantium | Investor Presentation Annual Results 2022– Q2 2023 Illustrative market targeting Revenue & profitability mechanics PEF MEG Avantium R&D Solutions Continued organic growth in line with historical levels 1 Estimated market sizes FDCA Flagship
Slide 49: Our industrial strategy compares favorably to our core peers
Our industria l stra tegy compa res fa vora bly to our core peers Avantium | Investor Presentation Annual Results 2022– Q2 2023 ✓ Avantium’s industrial Busine Peers 3M market Produ Announced commissioning year / run-rate capacity strategy is not an ss cap. range ct Before exception - Exact same mode
Slide 50: From Ambition to Execution
From Ambition to Execution Avantium | Investor Presentation Annual Results 2022– Q2 2023 Renewable Polymers Renewable Chemistries Volta / Corp Tech R&D Solutions CO2 based polymers, FDCA / PEF plantMEGTM & plantMPGTM R&D services & systems Biorefinery & novel polyesters First license deal signed Wor
Slide 51: Global warming stripes by climate scientist Ed Hawkins
Avantium | Investor Presentation Annual Results 2022– Q2 2023 51 Global warming stripes by climate scientist Ed Hawkins