Evolva. September 2016

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Dorthy Lambert
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1 Evolva September 2016

2 Disclaimer The shares of Evolva Holding ( Evolva ) are traded on the SIX Swiss Stock Exchange (ticker: EVE ). This presentation may contain specific forward-looking statements, relating to Evolva's future business, development and economic performance. e.g., statements including terms like "believe", "assume", "expect" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Evolva and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not rely on forward-looking statements. Evolva assumes no responsibility to update forward-looking statements or to adapt them to future events or developments. Evolva Proprietary Material Slide 2

Evolva the conventional description A 21 st century brewer of specialty ingredients >$200mn invested in technology, >500 patents Solving the supply chain issues of nature Most natural ingredients

3 Evolva the conventional description A 21 st century brewer of specialty ingredients >$200mn invested in technology, >500 patents Solving the supply chain issues of nature Most natural ingredients limited by how they made B2B business model Create new/better products for other companies Sell our own ingredients Proven technology - gone all the way several times Taken products from blank sheet of paper to market Evolva Proprietary Material Slide 3

4 What we stand for - ingredients that matter Less sugar in your food You and your kids safe from ticks Your cat (or dog) staying healthy for longer Stevia Nootkatone Resveratrol Evolva Proprietary Material Slide 4

5 Vast majority of natural ingredients have supply chain issues Resveratrol Skin Aging Citrus Stevia Adiposity Mogroside Nootkatone Frankincense Huperzine Blueberry Ginger Azulene Rowan Caffeine Jasmonates Saffron UV blockers Androgens Cloves Raspberry Ergot Ginseng Heparin Mint Cocoa Gibberellins Opiates Abscisic A. Humulene Betanin Insct Phmns Taxol Propolis Agarwood Indigo Sandalwood Carmine HMOs Vanillin Unavailable Evolva Proprietary Material Slide 5

6 But if you move their genes into yeast. Resveratrol Stevia Nootkatone Yeast Evolva Proprietary Material Slide 6

7 .You can make them all by brewing Resveratrol Skin Aging Citrus Stevia Adiposity Mogroside Nootkatone Frankincense Huperzine Blueberry Ginger Azulene Rowan Caffeine Jasmonates Saffron UV blockers Androgens Cloves Raspberry Ergot Ginseng Heparin Mint Cocoa Gibberellins Opiates Abscisic A. Humulene Betanin Insct Phmns Taxol 21 st Century Brewing indicative examples only Propolis Agarwood Indigo Sandalwood Carmine HMOs Vanillin Unavailable Evolva Proprietary Material Slide 7

8 Key benefits Evolva provides Saffron Significantly better economics Safer, shorter, more stable, more sustainable, supply chains Resveratrol More consistent product qualities and characteristics More customisable products and blends Better ingredients more soluble, biovailable, less bitter etc. Sandalwood Stevia New ingredients, with new benefits, become available Nootkatone Better products at more affordable prices Evolva proprietary Proprietary material Material Slide 8

9 21 st Century Brewing Evolva s Technology & Production Platform

> 500 pending or granted patents Advanced

Optimisation Ingredient Function Find New

Value Make Ingredients Customise Products

10 Making yeast make valuable ingredients Technology > $200mn invested in technology > 500 pending or granted patents Advanced Genetics Performance Genes Production Optimisation Ingredient Function Find New Ways To Improve & Rapidly Optimise Develop Value Make Ingredients Customise Products Economics Added Uses Evolva Proprietary Material Slide 10

Massively scalable - everything from same network Ergot Stevia Tourmaline Opal Sandalwood Agarwood Ruby Valencene Nootkatone Saffron Vanillin Vanadium Glucose Italics =

11 Massively scalable - everything from same network Ergot Stevia Tourmaline Opal Sandalwood Agarwood Ruby Valencene Nootkatone Saffron Vanillin Vanadium Glucose Italics = code named products Position is random Coral Resveratrol Each ingredient helps build the next c. 20 products in pipeline Agate Yeast Cell Evolva Proprietary Material Slide 11

12 Massively scalable - everything same production process 21 st Century Brewing Enhanced Baker s Yeast Fermentation Purification Product (non GM) Shipping Sugar, Water Vitamins & Minerals Production currently handled through contractors or partners. Incrementally internalising. Evolva Proprietary Material Slide 12

- 75% Continuously reduce production costs Continuously work on Optimising fermentation

P1 P2 P3 How well the yeast works 50% 40% 30% 20% Average COGS of launched products now down

2015 Long term potential for very low COGS In principle can convert 2 tonnes of sugar to 1

13 - 75% Continuously reduce production costs Continuously work on Optimising fermentation conditions Optimising product purification Choice of production location 100% 90% 80% 70% 60% P1 P2 P3 How well the yeast works 50% 40% 30% 20% Average COGS of launched products now down to c.25% of launch COGS 10% 0% Allylix/Flux 1 st Prodn 1st Early Batch Now Runs 2015 Long term potential for very low COGS In principle can convert 2 tonnes of sugar to 1 tonne of EverSweet TM Sugar c. 30 enzymes EverSweet 2 tonnes 1 tonne Evolva Proprietary Material Slide 13

14 The Platform extends beyond technology Footprint Society Informatics IP & CBD Mol Biol Marketing Analytics Application Formulation Important to work, and integrate, across ALL aspects to have a great product Automation Fermentation Regulatory Process Dev Supply Chain Purification Production Evolva Proprietary Material Slide 14

15 Commercial

Development) Work up in background Focus Segments Consumer Health & Care Food &

16 Focus Other Ingredients Especially ones with technical synergies Other Ingredients that Matter That fit focus segments Stevia Nootkatone Resveratrol Partner (Business Development) Work up in background Focus Segments Consumer Health & Care Food & Nutrition Agriculture Performance Materials Pricing > $50/kg Evolva Proprietary Material Slide 16

17 Partners For some products, it makes sense to partner Partner has marketing, regulatory expertise etc. Strong network effects means partnerships create synergies across platform Nature of partnership can vary. Often Evolva retains product rights Some of our partners Evolva Proprietary Material Slide 17

Stevia Major need to reduce sugar consumption worldwide Number of teaspoons of sugar in ONE 12oz can WHO recommends max of 12 teaspoons/day, 6 better 1 CAN of soft drink can meet or exceed these

18 Stevia Major need to reduce sugar consumption worldwide Number of teaspoons of sugar in ONE 12oz can WHO recommends max of 12 teaspoons/day, 6 better 1 CAN of soft drink can meet or exceed these amounts 200 billion cans in USA p.a. c. 1.7 cans/person/day Nestea Lemon 7 Red Bull Regular Coke Fanta Orange Stevia a natural zero calorie sweetener But current Stevia sweeteners become bitter at higher amounts Cannot reach zero calories Stevia plant makes much better tasting ingredients Reb D and Reb M - you can reach zero calories But very low levels in plant = too expensive + supply chain issues Coca Cola Life 65/35 sugar/stevia Evolva Proprietary Material Slide 18

EverSweet Make EverSweet TM by brewing Great tasting Reb D/M blend Strong IP 4 granted and 54 pending patents Exclusive Partnership with Cargill - Evolva constructs the yeast, Cargill does rest.

19 EverSweet Make EverSweet TM by brewing Great tasting Reb D/M blend Strong IP 4 granted and 54 pending patents Exclusive Partnership with Cargill - Evolva constructs the yeast, Cargill does rest. Share returns. EverSweet TM Pre-launched samples available from Cargill Great taste repeatedly validated by potential customers No Objection letter received from FDA May 2016 Total addressable market c. $4 billion 50% of HFCS + 10% of sugar used in beverages today Total market for sugar/hfcs etc. c. $70 billion Evolva Proprietary Material Slide 19

20 Nootkatone noot.evolva.com Insect pest & disease vector control a $10-20bn market* Major unmet needs in many areas Nootkatone revenue potential > $100 million p.a. over time 1% Nootkatone kills Aedes aegypti** adults (100%) Nootkatone made by grapefruits, confers their smell Approved food and fragrance ingredient But need 400 tonnes of grapefruit for 1 kilo High costs, limited supply prevents use 0.01% Nootkatone kills Aedes aegypti** larvae (100%) Nootkatone kills & repels multiple pests & disease vectors Including ticks, mosquitoes, termites, dust mites & aphids Safe for people, food and environment. Pleasant to use Significant data sets from Evolva and partners (f.x. CDC, NIH) * at the active ingredient/formulated ingredient level ** The yellow fever mosquito Primary vector for Dengue, Zika, Chikungunya & Yellow Fever Unoptimised formulations Evolva Proprietary Material Slide 20

21 Applications Nootkatone Consumer & Household Protection Food Chain Food Processing Animal Health Plant Protection 14 granted 19 pending patents Flavour & Fragrance Evolva Proprietary Material Slide 21

22 Resveratrol res.evolva.com The good stuff in red wine Positive data in multiple clinical studies BUT need 6+ bottles/day to get enough Main source = knotweed roots from China Invasive weed, possession illegal, supply unstable Evolva s resveratrol High quality, reproducibly pure. No contaminants Short, supply chain from sustainable sources Value added data and application support available Resveratrol improves memory and brain connectivity Word retention improved Functional connectivity of hippocampus improved Glucose metabolism improved Applications in markets totalling c. $20-30bn* Consumer health, food chain, advanced materials Revenue potential > $100 million p.a. over time * at the active ingredient/formulated ingredient level healthy older people, 200mg/day x 26 wks Witte et al, Journal of Neuroscience, 2014 Charite University Hospital & Max Planck 46 people. Double-Blind, Placebo Controlled Evolva Proprietary Material Slide 22

23 Applications Resveratrol Consumer Health & Nutrition Food Chain 75 days distilled water 75 days 0.004% Resv. Animal Health 39 granted 14 pending patents Advanced Materials Light, strong, fire and heat resistant composites Aerospace, automotive, aviation, batteries, clothing, construction, energy transmission, shipping. Evolva Proprietary Material Slide 23

24 People, Money

25 People, facilities & culture Swiss HQ - operations in Europe, USA, Asia 180 staff, most in R&D Production, Regulatory, Commercial etc. as well Significant strain, gene & compound collections c. 8,000 m 2 of state of the art labs Strong emphasis on cross-function integration Culture = Silicon Valley meets Scandinavia Open approach collaborate widely with others All employees receive stock options Evolva Proprietary Material Slide 25

Management & Board Management Neil Goldsmith*. CEO. Prev. Topotarget, Personal Chem., Phytera, PNAD, BIAcore Luc Gruner. CSMO.

Previously Poalis, Carlsberg Pascal Longchamp. CBO. Previously Phylom, Maxygen PM Murali. CEO, Evolva India.

ICI, Monsanto, PolyTechnos Board Sir Tom McKillop (chair). Previously CEO, AstraZeneca. Also ICI, RBS Claus Braestrup.

Previously Evolva CSO, Basilea, Novartis, Ciba-Geigy Gerard Hoetmer. Previ

26 Management & Board Management Neil Goldsmith*. CEO. Prev. Topotarget, Personal Chem., Phytera, PNAD, BIAcore Luc Gruner. CSMO. Previously Bim Kemi, Hercules, WR Grace Jakob Hansen. CFO. Previously Nuevolution, Zealand, Nordea, Novo Jorgen Hansen. CSO. Previously Poalis, Carlsberg Pascal Longchamp. CBO. Previously Phylom, Maxygen PM Murali. CEO, Evolva India. Previously Dalmia, Unilever, Battelle Simon Waddington. COO, Products. Prev. ICI, Monsanto, PolyTechnos Board Sir Tom McKillop (chair). Previously CEO, AstraZeneca. Also ICI, RBS Claus Braestrup. Previously CEO, Lundbeck. Also Schering, Novo Martin Gertsch. Previously CFO, Acino, Straumann, Synthes EMEA Jutta Heim. Previously Evolva CSO, Basilea, Novartis, Ciba-Geigy Gerard Hoetmer. Previously CEO Corbion. Also Unilever Ganesh Kishore. Prev. Chief Biotech Officer of DuPont & Monsanto Stuart Strathdee. Prev. Corporate Development Director, Tate & Lyle Thomas Videbaek. Chief Operating Officer, Novozymes * Also a member of the board Evolva Proprietary Material Slide 26

27 Historic & current finances CHF million (Forecast) Revenues ± 2015 Operating cash out Cash (end period) n/a 2016 revenues still primarily partnerships, products start to have an impact Over next few years, we expect revenues from product sales to increase Evolva Proprietary Material Slide 27

28 Financial outlook Revenues shift from partnerships to products Partnerships = fees and milestones Products = product sales, margin shares royalties Projected revenue and cost development (illustrative) Continuous improvement drives product margins Gross margins of 40-60% attainable mid-term Other costs remain relatively flat Research costs likely stabilise near 2015 levels SG&A increases to decelerate over time Capex: investment in scale-up & production Year Product Revenues Partnership Revenues Costs Evolva Proprietary Material Slide 28

Jul Nov Mar Jul Nov Mar Jul Nov Mar CHF CHF million Stock information Share

2.50 2.00 2014 2015 10.0 8.0 Board, management & staff hold c.

50 2.0 0.00 - Value traded (RH scale) Stock price (LH scale) 90% c.

29 Jul Nov Mar Jul Nov Mar Jul Nov Mar CHF CHF million Stock information Share price and trading volume Shareholdings Evolva estimate based on SIX filings Board, management & staff hold c. 11% shares + options 6% 4% Value traded (RH scale) Stock price (LH scale) 90% c. 398 million issued shares as of September 2016 Aviva (UK) Pictet (CH) Shareholders <3% Evolva Proprietary Material Slide 29

Evolva summary Solving the supply chain issues of nature By integrating multiple proprietary technologies Focus on ingredients that matter Ingredients that core to the value of final product

30 Evolva summary Solving the supply chain issues of nature By integrating multiple proprietary technologies Focus on ingredients that matter Ingredients that core to the value of final product Established track record Taken products all the way to market, several times Grow with our partners and customers Aligned on global macro-drivers (demographics, climate change) Resveratrol crystals (in polarized light) Evolva Proprietary Material Slide 30

31 Thank You Evolva Proprietary Material Slide 31

Evolva. World Congress on Industrial Biotechnology, Montreal Stephan Herrera VP, Strategy & Public Affairs

Evolva. World Congress on Industrial Biotechnology, Montreal Stephan Herrera VP, Strategy & Public Affairs Evolva World Congress on Industrial Biotechnology, Montreal 2015 Stephan Herrera VP, Strategy & Public Affairs stephanh@evolva.com Disclaimer The shares of Evolva Holding ( Evolva ) are traded on the SIX