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PRESENTATION March 2018 THE WORLDS ONLY PROVIDER OF BIOLOGICAL - - PowerPoint PPT Presentation

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PRESENTATION March 2018 THE WORLDS ONLY PROVIDER OF BIOLOGICAL SOLUTIONS FOR INFINITE BIORECYCLING AND BIODEGRADATION OF PLASTICS 1 DISCLAIMER This presentation used sources deemed credible and reliable but is not guaranteed as to accuracy

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THE WORLD’S ONLY PROVIDER OF BIOLOGICAL SOLUTIONS FOR INFINITE BIORECYCLING AND BIODEGRADATION OF PLASTICS PRESENTATION

March 2018

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www.carbios.fr

DISCLAIMER

This presentation used sources deemed credible and reliable but is not guaranteed as to accuracy or completeness. It also contains forward looking information that expresses management’s best assessments but might prove inaccurate. The information contained in this presentation is subject to many factors and uncertainties and therefore subject to change without notice. The company declines any responsibility to update, revise or correct any of the information hereby contained. This presentation does not constitute an offer or invitation to purchase securities of Carbios.

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2 - BIODEGRADATION

1 - INTRODUCTION

3 - BIORECYCLING 4 – HIGHLIGHTS & OUTLOOK 5 - FINANCE 6 - TEAM

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www.carbios.fr

ENZYMES TO REINVENT THE LIFECYCLE OF PLASTICS

2013

IPO (Euronext Growth Paris)

2011

Creation of the Company

2016

Creation of the JV CARBIOLICE

  • 1st licence of CARBIOS

technologies

2017

Launch of a consortium with L’ORÉAL EMPLOYEES

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INNOVATIVE BIOPROCESSES

02

PATENT FAMILIES

25

OUR KEY PARTNERS:

SPI Fund

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www.carbios.fr

Landfills Oceans

9 Mtons/year

PLASTIC WASTE/YEAR: 125 MILLION TONS

Recycling Incineration

1 : Source PlasticsEurope in 2016 / 2 : Estimated waste flow by extension of available data in Europe, the US and Asia - CARBIOS

WASTELESS PLASTICS New plastics > Zero waste INFINITE BIORECYCLING Plastic waste > New plastics

PLASTICS: NOT WASTE BUT RESOURCE!

CARBIOS REINVENT THE LYFECYCLE OF PLASTICS

MISSION

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www.carbios.fr www.carbios.fr

GLOBAL MARKET OPPORTUNITIES WASTELESS BIODEGRADATION INFINITE BIORECYCLING

ENZYMES TO TREAT PLASTICS

A RADICAL INNOVATION

  • 1. Selection of

microorganisms degrading plastics

  • 2. Microorganisms produce the

enzymes in charge of plastic degradation PLASTIC POLYMER MONOMERS CARBIOS PROPRIETARY ENZYMES & PROCESSES

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www.carbios.fr

Europe, Northern America, Mexico, China, Japan, Australia…

Patents delivered: 25 patent families including 2 worldwide exclusive licences

INTELLECTUAL PROPERTY

On all R&D results of the THANAPLAST™ project (ended in 2017)

Worldwide exclusive exploitation rights

In the development of bioprocesses combining enzymes & polymers

A unique know-how

Protecting the applicative use of enzymes, processes and products

A strong Intellectual Property

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1 - INTRODUCTION

2 - BIODEGRADATION

3 - BIORECYCLING 4 – HIGHLIGHTS & OUTLOOK 5 - FINANCE 6 - TEAM

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WHAT’S ON THE MARKET TODAY

AND WHY IT DOESN’T WORK?

  • Non biodegradable (200 to 300 years to degrade)
  • Source of long term pollution
  • Ban in several countries

ORDINARY PLASTICS

  • Costly
  • Limited applications
  • Disappointing performance

BIODEGRADABLE PLASTICS

  • Biohazard
  • Invisible pollution (microplastics)
  • Ongoing global ban

OXODEGRADABLE PLASTICS

  • Requires industrial composting
  • Low biodegradation capacity in the environment

COMPOSTABLE PLASTICS

CARBIOS provides a breakthrough alternative:

Wasteless plastics with a controlled lifespan

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www.carbios.fr

ENZYME INCORPORATION IN THE PLASTIC MATERIAL

BAGS, AGRICULTURAL MULCHING FILMS, DISPOSABLE TABLEWARE…

TECHNOLOGY

  • Resistance of the enzyme to high extrusion temperatures (PLA ~ 165°C)
  • Maintain enzymes activity in the polymer

CHALLENGES:

ENZYMATED PLASTICS WITH A CONTROLLED LIFESPAN

ZERO WASTE

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www.carbios.fr

A successful industrial and commercial joint-venture

Breakthrough technological innovation Financial might of France’s sovereign wealth fund 4000-ton industrial plant, and customers

+ +

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VALUE CREATION

  • 2016: € 8M Upfront payment
  • 2017-2019: € 2.5 M collaboration revenues
  • As of 2020: Upcoming royalty payments

STRENGTHS

  • € 18M cash contribution, including € 11M from

Bpifrance

  • Ability to address a market of 40.000 + tons per year

AMBITION

  • Become the European leader
  • Expand beyond Europe through sub-

licencing BIODEGRADABLE AND BIOSOURCED RAW MATERIAL: MASTERBATCH PELLETS

PRODUCTS

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GLOBAL MARKET OPPORTUNITIES

BAGS, PACKAGING & DISPOSABLE TABLEWARE ($ 28 billion) ~17.5 Mtons/year MULCHING FILMS ($ 5 billion) ~2 Mtons/year TECHNICAL FILMS ($ 4 billion) ~500 Ktons/year

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2 - BIODEGRADATION

3 - BIORECYCLING

1 - INTRODUCTION 4 – HIGHLIGHTS & OUTLOOK 5 - FINANCE 6 - TEAM

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  • Costly & complex sorting
  • Inefficient
  • Difficult for complex and opaque plastics

CURRENT LIMITATIONS

  • Mainly serves secondary applications
  • Mechanical recycling is not a continuous process

DOWNCYCLING

  • In 2016, plastic recycling reached 31,1% in Europe
  • Europe has set a recycling target of 60% by 2025

INCREASING REGULATIONS

CURRENTLY, NO AVAILABLE SOLUTION

provides a good answer

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Separation / Purification

BENEFITS OF THE ENZYMATIC PROCESS:

  • 100% recycling with no loss in quality
  • No sophisticated sorting required
  • Recycling of complex and opaque plastics

(PET/PE, PET/PA, etc.)

  • Low energy consumption

PET : Polyethylene terephthalate / MEG : Mono Ethylen Glycol / AT : Terephthalic acid / PA : Polyamide

CARBIOS INFINITE RECYCLING OF PET PLASTICS

Recovery of MEG & TA Mix of plastic waste containing different polymers (PET &

  • thers…)

Enzyme specific of PET

Monomers A & B

Depolymerization

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BOTTLES ($ 22,5 billion) 15 Mtons/year FIBERS ($ 64,5 billion) 43 Mtons/year PACKAGING ($ 4,5 billion) 3 Mtons/year FILMS ($ 4,5 billion) 3 Mtons/year

GLOBAL PET MARKET VALUE (+4% per year)

A huge accessible market for CARBIOS

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2 - BIODEGRADATION

4 – HIGHLIGHTS & OUTLOOK

1 - INTRODUCTION 3 – BIORECYCLING 5 - FINANCE 6 - TEAM

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CORPORATE MILESTONES & DECISIONS 2017 HIGHLIGHTS

  • Contrat with TechnipFMC for the scale-up of CARBIOS biorecycling process (June 2017)
  • Signature of an agreement with L’ORÉAL to jointly found a Consortium for biorecycling of plastics on industrial

scale (Oct. 2017)

  • Sucessful share placement of €4,2 M (July 2017)
  • Free allocation of redeemable stock warrants to the benefit of all shareholders (Nov. 2017)
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SCIENTIFIC MILESTONES PEOPLE HIGHLIGHTS (Next)

  • Extension of CARBIOS PET depolimerization process to opaque PET plastic packaging (Jan. 2017)
  • Synthesis of PET oligomers from biorecycled terephthalic acid (June 2017)
  • First production of virgin PET from post-consumer plastic bottles treated by enzymatic hydrolysis (Oct. 2017)
  • Depolymerization of PET polyester fibers from textile waste (March 2018)
  • Appointment of Ian HUDSON and Jacques BREUIL as members of the Board of Directors (June 2017)
  • Appointment of Martin STEPHAN as Deputy CEO (July 2017)
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SOLID FOUNDATIONS 2018 – 2020: A ROAD MAP SET IN VIEW OF THE INDUSTRIAL ROLL-OUT PLANS DELIVERED AND CARRIED-OUT

  • Successful closing of the THANAPLAST™ project
  • Signature of an engineering contract with TechnipFMC
  • Creation of a Brand-owners consortium with L’ORÉAL
  • Ongoing application for funding of a new project by ADEME
  • 2 major innovations
  • 25 patent families
  • World leader in the field of Bioplasturgy
  • New innovation pipeline et extension of proprietary technologies

to new markets (PET polyester fibers)

  • Reinforcement of the Brand-owners consortium
  • 2018: Industrial Pilot Plant
  • 2019: Launch of the Industrial Demonstration stage

CARBIOLICE

  • Getting regulatory approvals pre commercial launch
  • 2019: Client testing
  • 2020: Royalty payments for CARBIOS

PET BIORECYCLING

DEVELOPMENTS & OUTLOOK

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✓ 20 kg ✓ R&D LAB/PRE-PILOT STAGE Development Model

PET Biorecycling Start FOCUS ON CARBIOS PET BIORECYCLING PROJECT TIMELINE

2012

2017

✓ Tons ✓ Technological development ✓ € 5-10 M

INDUSTRIAL PILOT

  • Limited CAPEX
  • Public cofinancing
  • Partnerships with key industrials to operate the

process

2018

2020

✓ 10 to 50 ktons ✓ Commercial launch

INDUSTRIAL DEMONSTRATION 2019

2021

✓ Full size units ✓ International licensing

INDUSTRIAL ROLL-OUT 2023

…

First plastic products in « Circular Economy » PET in 2018

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3 - BIORECYCLING

5 - FINANCE

6 - TEAM 2 - BIODEGRADATION 1 - INTRODUCTION 4 – HIGHLIGHTS & OUTLOOK

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www.carbios.fr www.carbios.fr

(In thousand euros) December 31, 2016 December 31, 2017 Operating revenue 8,870

983

Operating expenses 5,319

5,635

Operating Income 3,551

(4,652)

Financial Income 75

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Operating Income before Tax 3,626

(4,628)

Extraordinary profit (loss) (27)

(11)

Income Tax (research tax credit) (1,321)

(702)

Net Income (loss) 4,920

(3,936)

2017 INCOME STATEMENT: in line with our Road map

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www.carbios.fr www.carbios.fr

2017 Annual Results

OPERATING REVENUES OPERATING EXPENSES

2 675 4 016 4 028 4 899 5 319 5 635

2011-2012 2013 2014 2015 2016 2017

  • Research service agreement with the subsidiary CARBIOLICE: €724 K
  • OSEO-ISI / THANAPLAST™ project: €105 K subsidies generated in 2017
  • Other income revenues: €154 K
  • Rise of 6% compared to 2016
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2017 Annual Results

OPERATING EXPENSES (next) TAX RESEARCH CREDIT

47% 53% General & Administrative expenses R&D expenses

  • Rise of the total payroll by 23%
  • Hiring of 3 employees in 2017 including a Deputy CEO
  • €1,155 K salaries and wage benefits eligible to Tax Research Credit (French CIR)
  • Decrease of external charges by 22%
  • Decrease of external charges driven by the end of the THANAPLAST™ project and the internalisation of certain

analytic research

  • Compensated by a strong intensification of Business Development to set strategic partnerships (e.g. L’ORÉAL)
  • Expenditure Breakdown:
  • Decrease of the expected Tax Research Credit (€702 K) due to the rise of grants received in 2017 (€1,3 M vs. €0,4 M in 2016)
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Simplified Balance Sheet (in thousand euros) December 31, 2016 December 31, 2017 Intangible assets 371 565 Tangible assets 1,211 1,106 Financial assets 9,688 9,679 Fixed Assets 11,270 11,350 Inventory 15 14 Receivables 1,945 1,455 Cash and marketable securities 3,987 7,547 Pre-paid expenses 215 155 Current Assets 6,162 9,171 Total Assets 17,432 20,521 Shareholder’s equity 13,113 14,550 Conditional advances 3,151 3,707 Loans 178 339 Trade payables and related accounts 494 1,432 Other liabilities 496 492 Payables 1,168 2,264 Total Liabilities 17,432 20,521

SIMPLIFIED BALANCE SHEET

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www.carbios.fr

Cash flow (in thousand euros) December 31, 2016 December 31, 2017 Cash at the opening 9,011 3,987 Net cash generated by operations 4,636 (2,221) Net cash from investments (9,829) (312) Net cash from financing operations 169 6,092 Change in cash (5,024) 3,560 Closing cash 3,987 7,547

www.carbios.fr

CASH FLOW STATEMENT

strengthening the financial capacity to support future developments

  • Increase in the cash available during the 2017 exercise: €3,560 K
  • In light of the projections made on future expenses and investments, this cash position should allow

CARBIOS to finance its activities until mid-2019

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www.carbios.fr www.carbios.fr

54,98% 24,64% 19,97% 0,41% Free Float Truffle Capital Holding Incubatrice Chimie Verte Management & Treasury shares

Market

Euronext Growth Paris

Mnemo/Reuters/Bloomberg

ALCRB / ALCRB.PA / ALCRB.FP

Shares ISIN code

FR0011648716

Warrants ISIN code

FR0013297587

Number of shares

4.571.865

ICB classification

Chemistry / Speciality chemistry

Indices

Euronext Growth All-share, Euronext Growth Bpifrance Innovation Index

French PEA-PME eligibility

Yes

Analyst coverage

Laurent Wilk Damien Choplain Adrian Phillips

Shares & shareholder structure as of December 31, 2017

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3 - BIORECYCLING

6 - TEAM

5 - FINANCE 2 - BIODEGRADATION 1 - INTRODUCTION 4 – HIGHLIGHTS & OUTLOOK

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Jean-Claude LUMARET

Founder & CEO

Martin STEPHAN

Deputy CEO

Professor Alain MARTY

Chief Scientific Officer

An experienced management team

38 years experience in the agro- industry at an international level and expert in intellectual property International expert in enzymology and biological processes 30 years of experience in the chemical industry

  • CARBIOLICE : President
  • TWB (Toulouse White Biotech) : President
  • METEX : Vice-President Strategy &

Innovation (Member of the Board)

  • ROQUETTE :

Director, Business Intelligence Director Fermentation and Industrial Chemistry Director, Intellectual Property and Regulatory Affairs

  • CHEMOURS : Global Director of the

Fluotelomers activity, EMEA Director, Logistics & Real Estate

  • DUPONT DE NEMOURS Int. Europe :

Global Product Manager, Business and Market Manager, Sales Director

  • ATOFINA

: Business Manager Fluorotelomers

  • ELF ATOCHEM : Chief Financial Officer
  • INSA LISBP : Professor and

Head of a research group

  • AERES and ANR Evaluator

(France’s National Education Research Agencies)

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Jean FALGOUX

President

  • Ex Corp. Officer Ajinomoto Inc.
  • Ex VP Ajinomoto Europe
  • Ex Senior VP Hoechst Roussel

Jacqueline LECOURTIER

Scientific Advisory Board President

Alain CHEVALLIER

  • Partner Life Sciences, Truffle Capital
  • Ex CFO Abivax, Ex President

Deinobiotics

  • Ex CFO Sanofi-Aventis France

Pascal JUERY

  • CEO Solvay France
  • President of the Union of Industrial

Chemistry

Ian HUDSON

  • Ex President EMEA DuPont
  • Ex President Europabio

Jacques BREUIL

  • Member of the Executive

Advisory Board of Céréales Vallée

  • Ex General Secretary of the

Barbier Group

Erik ORSENNA

  • Novelist, Member of

« L’Académie Française »

  • Economist & Government

Advisory

Dominique EVEN

An operational Board of Directors

Complementary expertises: scientific, industrial and financial

  • Ex General Director Sanofi Chemicals
  • Ex Industrial Director Aventis
  • Ex General Director ANR
  • Ex Scientific Director IFP
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Biopôle Clermont-Limagne - 3 rue Emile Duclaux – 63360 St-Beauzire, France Tel : +33(0)4 73 86 51 76 Email : benjamin.audebert@carbios.fr