Avantium N.v.EURONEXT: AVTX

Investor Presentation Full Year 2025 Results

Mar 18, 2026 at 6:10 AM UTC · Issued by Avantium N.v.

Avantium Full Year 2025 Results

18 March 2026

Full Year 2025 Results - Investor Presentation

Avantium Today

Full Year 2025 Results - Investor Presentation

Avantium at a glance

Transforming sugars into next-generation bio-based plastic releaf®

Established

In 2000

HQ in Amsterdam (NL)

World's 1st FDCA Plant

Opened in Oct 2024 Expected to be on stream in 2 2026

21 Offtake Agreements

13 Capacity Reservations

1 License Agreement

175 patent

families

Publicly listed

Amsterdam s Brussels

250+

FTE

Full Year 2025 Results - Investor Presentation

Key pillars and investments highlights

FDCA / PEF -

Innovative s unique product

Introducing a better s

cleaner bioplastic:

FDCA and PEF

From sugars to the next generation bioplastic

FDCA / PEF

100% bio-based feedstock
Fully recyclable in PET stream
Lower carbon footprint
With superior properties

Flagship Plant

Project execution

Starting up the plant for sales under

the offtake agreements in H2 2026

Laboratory

2006

FDCA Pilot Plant

2011

Construction

2022 - 2024

SDH start-up

completed

Aug. 2025

Start-up

full plant

Mid-2026

Commercial

production

2026>

…

FDCA Flagship Plant

Successfully Commercialization paving the way

towards future licenses

offtake

agreements

capacity

reservations for future license plants

license

agreement

signed

Full Year 2025 Results - Investor Presentation

Commitments from leading brands

Former CEO of

Marit van Egmond

Bottles

Bottle Collective

PEF Textile Community

Offtake

Agreements

Besides packaging reduction, recyclability and reuse, fossil-free materials are high on our wish list. With the use of PEF, we are giving substance to this."

Cosmetics Packaging

Fibre

Film / Sheet

at the centre of the eco-system

Simon Boas Hoffmeyer Senior Sustainability Director at

Technology License Agreement

The things that lured us into looking at PEF are the quality properties, and that PEF is able to retain the fizz of the beer 8 times better than PET."

Other Applications

Capacity Reservations Future Plants:

Anders Byriel

Capacity

Reservations

Future Plants

CEO

= Undisclosed

Full Year 2025 Results - Investor Presentation

We have been positively surprised about the properties of PEF, the look and feel [of the textile] is impressive."

Marketed as releaf®

Full Year 2025 Results - Investor Presentation

Status of Worldwide Recycling Endorsements for PEF

Critical Guidance Recognition for 10% PEF layer in PET bottle

Interim endorsement monolayer (2% MP*) and 10% multilayer (5% MP*)

Technology approval, 10% multilayer fully compatible with PET recycling

PETボトルリサイクル推進協議会

CPBR approval 10% PEF multilayer in PET bottle

Full Year 2025 Results - Investor Presentation

Broad range of applications

Full Year 2025 Results - Investor Presentation

Full Year 2025 Results

Full Year 2025 Results - Investor Presentation

Financial highlights FY 2025 (€ millions)

Revenues

21.0

EBITDA

Investments

20.7

58.6

FY24 FY25

(33.3) (36.1)

14.6

FY24 FY25

FY24 FY25

Other income (grants)

4.6 3.4

Cash position

23.9

57.5

Borrowings

131.5 146.0

FY24 FY25

Full Year 2025 Results - Investor Presentation

FY24 FY25

FY24 FY25

Cash flows 2025 (€ millions)

-10

-21

-35

-3

Cash at 31-12-24 Drawdown

borrowings s shareholder loan

Net equity raise Repayment of

borrowings

Other Financing Activities (Lease Payments)

Net Cash Used in Operations

CAPEX Investments Changes in Working

Capital

Net Financing and Interest Expenses

Cash at 31-12-25

Full Year 2025 Results - Investor Presentation

What drives us?

Full Year 2025 Results - Investor Presentation

The why

CURRENT FOSSIL, LINEAR ECONOMY

Atmosphere: CO2Climate change

Environment: Pollution s Microplastics

Human body: Microplastics s Health effects

BARRIERS FOR TRANSITION

Inadequate recycling solutions
Insufficient performance of bioplastic
Economic barriers (virgin plastic)
Economic interests: increasingly more oil is used for plastics production

RENEWABLE, CIRCULAR ECONOMY

Atmosphere: Oil-independent s lower CO2
emissions
Environment: Not persistent s fits with existing recycling infrastructures
Human body: Safe s no migration to human body

Opportunities

Strong market demand driven by consumers
Shifting regulatory landscape favoring biobased materials
Innovative materials delivering advantages beyond what fossil-based plastics can offer

Full Year 2025 Results - Investor Presentation

Promising market outlook for bioplastics

Middle East and Africa

South America

Europe

Global bioplastics market volumes by region, through 2029 (kilotons)

4,755

5,635

APAC

North America

2,061

2,432

2023 2024 2028 2029

Full Year 2025 Results - Investor Presentation

Source: BCC Research, "Global Bioplastics Market: Trends, Growth, and Future Outlook", March 2025

FDCA / PEF:

Superior performance

and sustainability benefits

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative s unique product

FDCA: the key building block of PEF

PET

Commercialization

Flagship Plant - Project execution

Crude oil

PEF

Sugars

PET

MEG

PTA

100% fossil-based

Plant-based MEG

FDCA

PEF 100% plant-based

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative s unique product

Flagship Plant - Project execution

PEF can be used in a very broad range of applications

Key applications

Competing materials

Addressable market1

Avantium's partners

Bottles

Beer, Juices, Waters, Soft Drinks

Glass, Aluminium,

PET, Multi-layer

>50 million ton/year

>€100bn TAM

Fibers

Textile, Upholstery, Car Tires, Industrial Fibers

PET, Nylon,

Cotton

>40 million ton/year

>€80bn TAM

Commercialization

Packaging s More

Food Packaging, Non-Food Packaging

Glass, Aluminium, PET, Multi-layer

>25 million ton/year

>€50bn TAM

Full Year 2025 Results - Investor Presentation

Notes: (1) estimated volume reflects Total Addressable Market (TAM) in 2035 with PEF at 2€/kg

Sources: Smithers, The future of high barrier packaging films to 2024, 2021; Smithers, The future of global flexible packaging to 2026, 2021; Smithers, The future of rigid plastic packaging to 2026, 2021; Thermoformed Packaging Market to 2025, 2018 ; PCI Wood Mackenzie, Abstract report global Multilayer PET bottles industry to 2024, 2016 ; Allied Market Research

FDCA / PEF - Innovative s unique product

PEF sustainable and superior alternative for PET

A more sustainable product…

…with superior properties… …providing distinctive value

proposition

100% biobased

feedstock

Recyclable

Lower carbon

footprint

Flagship Plant - Project execution

x10 better

>20% weight reduction

as less material required

for same properties

Longer shelf life

leading to food waste reduction

PEF

Larger range of applications

Ability to replace glass,

aluminium, etc.

Enhanced recyclability

as mono-material packaging or by replacing hard-to-recycle polymers (e.g. nylon) in multi-material packaging

better

PET

Commercialization

Oxygen barrier

CO₂ barrier

APR² Critical Guidance Recognition on compatibility with standard PET recycling practices

RecyClass validates Avantium's PET/PEF bottle as fully recyclable in PET stream

EPBP ¹ interim approval on multilayer PET/PEF and monolayer PEF bottles in the PET recycling stream

Notes: (1) The European PET Bottle Platform is a voluntary initiative of industry organisations representing waste collectors, plastic recyclers, PET material producers and

Full Year 2025 Results - Investor Presenbtraatnidonowners; (2) The Association of Plastic Recyclers, non-profit organisation focused exclusively on improving recycling for plastics

Sources: Avantium and Nova Institute, PEF - A Sustainable Packaging Material for Bottles - ISO Certified LCA of Avantium's PEF products, 2022; University of Aberdeen, PEF plastic synthesised from industrial carbon dioxide and biowaste, 2020; Journal of Ecological Engineering, Energy Inputs on the Production of Plastic Products, 2022; RECORD, Chemical and physico-chemical recycling of plastic waste, 2022, 177 p, n°21-0919/1A; Avantium, The Journey of Avantium's PEF towards Commercialisation, 2021

FDCA / PEF - Innovative s unique product

PEF outperforms other sustainable polymers

Key features for a viable sustainable polymer Sustainable polymers side-by-side

PEF

rPET

bioPET

PBS

PHA

PLA

Flagship Plant - Project execution

PEF combines all characteristics of a high-performance sustainable

polymer

Renewable feedstock

Bio-based polymers reduce GHG emissions

✓

Bio-based

✓

Fossil-based 70% fossil-based

✓

Bio-based

✓

Bio-based

✓

Bio-based

2 Performance

High gas barrierextends shelf life and unlocks mono-material packaging

✓

Commercialization

High gas barrier

Medium gas barrier

Low gas barrier

✓

End-of-life

Recyclabilitythrough existing infrastructure

Degradabilityin industrial s natural environment

✓

High recyclability (mono s multi-material)

High recyclability (mono-material)

Low recyclability

Medium-Low degradability

Full Year 2025 Results - Investor Presentation

Very Low degradability

High degradability

Medium degradability

FDCA / PEF - Innovative s unique product

PEF addressable market potential

Flagship Plant - Project execution

Expected PEF price reduction to drive a massive expansion of our TAM

PEF @ ~2.5€/kg

122.3 mta

€240bn TAM

Flexible films (laminates, food or hygiene packaging, etc.)

PEF @ ~5€/kg

PEF @ ~10€/kg

0.3 mta1

€3bn TAM

7.7 mta

€40bn TAM

Injection molding (bottle caps, medical devices, car parts, etc.)

Fibers

(fabrics, ropes, cables, etc.)

Commercialization

Rigid packaging (containers, trays, bottles, etc.)

2026 2030 2035

Own production (5kta)

Distinctive value proposition for multi-layer bottles and EVO films replacement

Initial licensing phase (100kta)

Clear focus on monolayer bottle, specialty fibers, glass & aluminium replacement, films and multi-layer bottles markets

Large scale licensing (250kta)

Expectation to unlock PET market including large fiber market

Full Year 2025 Results - Investor Presentation

Notes: (1) Million Metric Tons Annually, chart is not to scale

FDCA / PEF - Innovative s unique product

PEF is both sustainable and price-competitive at scale

100kta 250kta

Flagship Plant - Project execution

Competing with aluminium and glass at €5.0/kg PEF Competing with mono-material PET at €2.5/kg PEF

Commercialization

PEF Bottle

33cl - 13.5g

PEF material cost1

67%

€0.07 = ~7% of end price

Glass Bottle

33cl - 200g

Glass material cost¹

€0.13 = ~13% of end price

Aluminium Can

33cl - 13g

Alu material cost¹

€0.03 = ~4% of end price

PEF Bottle

50cl - 17.5g

PEF material cost²

€0.044 = ~3.7% of end price

rPET Bottle

50cl - 22g

rPET material cost²

€0.055 = ~4.6% of end price

PET Bottle

50cl - 22g

PET material cost²

€0.037 = ~3.1% of end price

PEF reducing Global Warming Potential

76%

vs. glass

vs. aluminium

vs. PET

73%

Only a c. 85% recycled content PET bottle can equal PEF bottle carbon footprint

Full Year 2025 Results - Investor Presentation

Notes: (1) a 33cl bottle made with PEF at €5.0/kg sold at €1.00, a 33cl glass bottle sold at €1.00 and a 33cl aluminium can sold at €0.67; (2) Assuming PEF at €2.5/kg, rPET at €2.5/kg and PET at €1.7/kg, and a 50cl sold at €1.20. Sources: enzymatic rPET, Company's estimates; Glass, Food grade rPET s PET prices, BusinessAnalytIQ.com, PEF World Congress - bioplastics MAGAZINE(2024), 20241030-PEF-World-Congress-presentation-Nova-Institute-LCA-PEF.pdf, Aluminium International (33 cl), Aluminium Beverage Can Study - International Aluminium Institute

FDCA Flagship Plant

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative s unique

product

FDCA Flagship Plant start-up status

FDCA Flagship Plant

First-of-a-kind

plant

Proving technology at 5kta scale

Team of

70 people

Located in Delfzijl, The Netherlands

Critical for a

successful

licensing strategy

Flagship Plant - Project execution

Laboratory

2006

FDCA Pilot Plant

2011

First piling

2022

Construction completed

2024

Start-up

…

2025 - Mid-2026

Commercial production

H2 2026>

Commercialization

Core processes

High fructose syrup

Input

Sugar Dehydration

(SDH)

MMF

Oxidation (OXI)

Purification (PUR)

FDCA

Output

Commissioning s Start-Up status

Started-up

Utilities

Start-up ongoing

Started-up

Sugar Dehydration Oxidation Purification

Planned completion of start-up : Mid-2026

Full Year 2025 Results - Investor Presentation

Commercializing releaf®

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative & unique product

Flagship Plant - Project execution

Releaf® | The next generation polymer, with superior performance benefits1

Superb barrier properties

10x

better

oxygen barrier

Circular,

enhanced recyclability, 100% plant-

based

73%

GHG emissions reduction

better CO2barrier

Food waste reduction: Up to 5-6 times longer shelf life

>20%

weight reduction

Commercialization

Full Year 2025 Results - Investor Presentation

Note: (1) Compared to PET

FDCA / PEF - Innovative & unique product

Licensing strategy in motion

Flagship Plant - Project execution

Feedstock

Limiting feedstock risk through 1st and 2nd gen strategy

Commercialization

Avantium's Licensing Strategy

Commercial

Capacity Reservations for future licensed plants

Undisclosed:

>100 kilotonnes

of capacity reservations

= >1 100 kta license plant

Technology

Derisking technology risk by proving commercial scale production in the FDCA Flagship Plant

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative & unique product

Global FDCA licensing opportunities for Avantium

Customer type

Flagship Plant - Project execution

Technology licensing target customers - On a standalone or consortium basis

Feedstock

suppliers

Chemical companies

PET (/polymer) producers

Process agricultural raw materials (corn, sugar beets, wheat) to produce sugar and starch

Produce basic units of monomers (MEG, PTA, FDCA)

Combine basic units of monomers (MEG, PTA, FDCA) together to form long-chain polymers (PEF, PET)

Interested in expanding their value chain

Meet their 2030 CO2reduction

goals by portfolio expansion

Moving from PET to PEF production using existing assets for a greener value and superior performance proposition

Rationale for

licensing

Activity

Illustrative

companies

Commercialization

Key considerations on licensing Our ambition

Proximity

to feedstock

Proximity to existing production infrastructure (brownfield)

Local market

proximity s size

Local regulations s

incentives

4 licenses in place by end of 2027

Full Year 2025 Results - Investor Presentation

FDCA / PEF - Innovative & unique product

Flagship Plant - Project execution

FDCA - feedstock agnostic, utilising Gen 1 and 2 feedstocks

Suppliers

1st Generation feedstock

✓

Glucose/fructose from starch

FDCA Flagship Plant is using Gen 1 feedstock: starch - an abundant co-product
Regionally s commercially available
Sugar surplus, no competition with food supply

2nd Generation feedstock innovations

Wood chips

Textile waste

Feedstock availability crucial for effective global licensing strategy
Avantium's Dawn Technology develops strategic diversifying feedstock options
Recent breakthrough polycotton textile waste recycling

Offtakers

Feedstock suppliers are also potential licensing targets (illustrative)

Commercialization

Full Year 2025 Results - Investor Presentation

Key takeaways

Most advanced

FDCA s PEF

player worldwide

Most advanced technology, strong IP portfolio,

global leader in the commercialization of FDCA/PEF

FDCA Flagship

Plant start-up

Targeting completion of start-up Mid-2026;

Commercial scale production expected in second half of 2026

Strong commercial

momentum

21 Contracted offtakes by industry leaders
13 Capacity reservations for future plants
Pro-active licensing strategy; 1 license agreement in place

Comprehensive

4 financing package

secured in Sept. '25

Raised c. €85 million in equity, incl. €15 million cornerstone placement from Dutch Ministry of KGG, to complete start-up of the Flagship Plant, accelerate licensing deployment and expand FDCA/PEF applications; targeting addit. €20 million from government related investment initiative.

Clear path to pr th

ofitable grow

Ambition: €90 million1 revenues and EBITDA break-even in 2027

Full Year 2025 Results - Investor Presentation

(1) includes revenues from RCD Solutions

Appendix

Full Year 2025 Results - Investor Presentation

Glossary

FDCA: Furandicarboxylic Acid

FDME: Furandicarboxylic Methyl Ester FEED: Front End Engineering Design FID: Final Investment Decision

HFS: High-Fructose Syrup

JV: Joint-Venture

MEG: Mono-Ethylene Glycol

MF: Methylfurfural

ML: Methyl Levulinate

MTA: Million Metric Tons Annualy

NPV: Net Present Value

PEF: Polyethylene Furanoate

PET: Polyethylene Terephthalate PTA: Purified Terephthalic Acid RDS: RsD Services

TAM: Total Addressable Market

Full Year 2025 Results - Investor Presentation

Avantium owns the necessary IP for production and licensing of FDCA and its high value applications

High IP-activity

FDCA manufacture: 51

FDCA based polymers, manufacture and applications: 54

Others: 7

High IP-activity

FDCA manufacture: 110

FDCA based polymers, manufacture and applications: 142

Others: 16

Limited IP-activity

FDCA manufacture: 13

FDCA based polymers, manufacture and applications: 11

Others: 1

High IP-activity

FDCA manufacture: 72

FDCA based polymers, manufacture and applications: 92

Others: 2

IP across further businesses

Avantium has 175+ patent families1
containing 1,125 rights
Besides FDCA (72 families, 578 rights), Avantium holds the IP required for the execution of its commercial strategy for all other technologies (RsD Solutions, Ray Technology, Volta Technology and Dawn Technology)
Avantium actively manages its IP portfolio including review of third-party patent positions
Avantium has a dedicated team of in-house patent attorneys

Full Year 2025 Results - Investor Presentation

Note: (1) Includes not yet published families while geographic overview excludes these

Stricter European regulations increase the need for truly sustainable solutions, requiring short-term investments

2030 - packaging full recyclability

2040 - 15% reduction in per capita packaging waste 2050 - climate neutrality in

the packaging sector

Packaging and Packaging Waste Regulation (PPWR): regulates what kind of packaging can be placed on the EU market, as well as packaging waste management and prevention measures

Entered into force on February 11, 2025

2026

Public procurement rules revised to favor sustainable and European products, with

€100bn mobilized for clean manufacturing

Clean Industrial Deal: outlines concrete actions to turn decarbonization into a driver of growth for European industries, including actions for the use of recycled and biobased materials Presented on February 26, 2025, by European Commission

Full Year 2025 Results - Investor Presentation

2nd generation feedstock: Dawn/Yukon technology enabling to use polycotton textile waste for feedstock

The technology

Avantium (together with the University of Amsterdam) developed a patented technology to break down cotton in polycotton textile waste into an intermediate for FDCA/PEF (based on 2G feedstock), while leaving the
polyester intact for fiber-to-fiber recycling
Business case
- Scalable and cost competitive: successful Avantium Dawn pilot plant tests demonstrate high yields from polycotton waste, proving the method's scalability and cost-effectiveness
  Textile waste management
Addressing global waste problem
149m tons of expected textile production by 2030
< 1% - current recycling rate1
Avantium's technology aligns with new regulations that make textile producers responsible for waste management
Strategic importance
Feedstock agnostic approach: reinforces the commercial potential of FDCA / PEF, supports Avantium's licensing strategy

Full Year 2025 Results - Investor Presentation

Polyester residue of postconsumer polycotton waste textiles in the DAWN pilot plant

Note: (1) Pepper, L. R. s Truscott, L. Preferred Fiber s Materials Market Report 2022, Ellen MacArthur Foundation. A New Textiles Economy: Redesigning Fashion s Future; Ellen MacArthur Foundation: Cowes, UK, 2017

ESG ratings

Avantium was awarded a Silver Medal by EcoVadis, after a thorough audit of our performance in four categories: environment, labor and human rights, ethics, and sustainable procurement.

Sustainalytics recognized Avantium as having medium risk for material financial impacts driven by ESG factors.

Understanding the sustainability benefits

Life Cycle Assessment (LCA) is fundamental to understanding how Avantium's technologies compete with fossil-based alternatives, as well as the potential sustainability benefits of our technologies.

LCA is the most recognized method to quantitatively assess potential environmental impacts of products, services or processes.

Third-party peer-reviewed and ISO-certified Life Cycle Assessments show that Avantium's PEF can enable a 73% reduction in GHG emissions over the life cycle of a 500 ml PET bottle.

Releaf®(PEF) LCA Applications 500ml bottle (2024)
PlantMEG LCA (2022)
PlantMPG LCA

For more information visit: https://avantium.com/products-technologies/lca/

Full Year 2025 Results - Investor Presentation

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Full Year 2025 Results - Investor Presentation

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