Metabolix:Pivot to Performance Focus

BIO Presentation

Montreal, Canada

July 20, 2015

www.metabolix.com

© 2015 Metabolix2

Biopolymers: Positioned for Commercial Success

Technology Phase• Founded in 1992 after spinout from MIT

• Built core PHA bioscience capability and IP

• Economical production technology piloted

Pivot to Specialties Phase• New, more focused specialties strategy

• Leverage core bioscience and unique, differentiated

PHA properties to maximize value in use

• Reshape MBLX, position for commercial success

Initial Commercialization Phase• Large scale commercialization with ADM

• Commodity approach based on biodegradability

• Successful scale-up, key knowledge gained

Building a Commercially

Successful Specialty

Biopolymers Business

© 2015 Metabolix3

Metabolix Innovation Engine

Yield10 Bioscience

Crop spinout in progress

Biomedical spinout

– Medical devices

– FDA approved PHA polymer

TephaFlexTM sutures(B. Braun)

PhasixTM hernia repair mesh(Bard)

GalaFlexTM (Galatea)

– >700,000 patients treated

– Equity and licensing revenue to Metabolix

Global Portfolio

More Than 450 Patents

Current Commercial Focus

Specialty Biopolymers– Strong overlap of core bioscience

and fermentation

– PHA recovery – Biopolymers

– Proprietary PHA compositions

– Proprietary PHA applications

Future optionality– Fermentation based chemicals

– FASTTM recovery process

Acrylic and

GBL/butanediol

MIT spinout (1992)

A world leader in metabolic engineering

Shares traded on the NASDAQ as MBLX

© 2015 Metabolix4

Metabolix Initial ApproachTechnology platform for bio-based polymers

Biobased

Sugar used as

feedstock

Fermentation

Microbial

engineering enables

high polymer

accumulation

in microbes.

Products

PHA’s can be

compounded and

processed using

conventional plastics

processing equipment:

Biodegradable

• Soil (Ambient)

• Home Compost

• Industrial Compost

• Fresh Water

• Marine Water

•Anaerobic

With access to proprietary

technologies and know-how

© 2015 Metabolix5

PHA Market Opportunity Space and Players:

Typical first generation strain process

TCA cycle

Ac-CoA AcAc-CoA 3HB-CoA

PHB or

PHB-co-HX(0-30% HX)

HX HX-CoA

Carbon source

Co-feed

PHA (PHB) Companies

Kaneka - veg. oil

Tianan - sugar

Tianjin - sugar

Meredian - veg. oil

Newlight - methane

Terraverde - MeOH (methane)

Mango - methane

Metabolix, Telles PHA

– JV terminated, 2012

Pivot ?

Performance Modifiers/

Process Aids

~1.1 MM tpa,

~$6 billion pa

Medical PHA

Price

$ / lb

Market Volume

PVC

PP PEABS

PEEK

LCP

PPA

M TonsK Tons

Acrylates

EVA

PAPOM

PBTPSU

Commodities

MBS

$1 / lb

$2-4 / lb

$5-25 / lb

PMMA PC

Engineering Polymers

PLA~180K Tons Source: Nova-Insitut

PB

© 2015 Metabolix6

Next Generation Strains: Example: PHB-co-5HV

Metabolix developed proprietary metabolic pathways to a series of PHA co-monomers

Glycolic acid, 3-hydroxypropionic acid, 4-hydroxybutyric acid, 4-hydroxyvaleric acid, 5-

hydroxyvaleric acid, 3-hydroxy-C6, 8, 10, 12 acids

This enables control of polymer structure (types and ratio of monomers and MWt) leading to

functionality targeted solutions end-product performance

© 2015 Metabolix7

Metabolix Core PHA Technology: Enables all PHA Grades

Metabolix 3rd Generation Strains

Amorphous

Range

Feedstocks• Glucose,

• Sucrose,

• Cellulosic’s,

• Gycerol,

• Ethanol

• Methanol,

• Methane,

• Fatty acids (Patents pending)

Metabolic engineering enabled:

All PHAs from simple feedstocks

Novel amorphous PHA compositions (Pat’s Pend)

Novel pathways and production strains (Pat’s Pend)

Higher value applications and market opportunities

based on unique performance( Pat’s Pend),

includes blends with more crystalline PHAs

Lower cost PHA copolymers (low HX; Pat’s Pend.)

where biodegradability or sustainability are valued

by the customer or driven by regulation

Reset the patent timeline

Performance Modifiers/

Process Aids

~1.1 MM tpa, ~$6 billion pa

© 2015 Metabolix8

Differentiated Biopolymer Offering

• Amorphous PHA rubber

• Compatibility in other materials

• Multi-functional additive

• Biobased and biodegradable

• PVC flooring, vinyl siding, roofing,

cable jacketing, fencing and

decking

• PLA packaging and other films

• PLA non-wovens for wet wipes

• PLA food service items

• Enhanced properties

• Improved processing

• Reduced cost

• Enhance PVC recycling

• Biodegradability profile

(composting, AD, soil, marine and

fresh water)

• Bio-content

• Performance envelope

• Cosmetic microbeads

• Organic waste diversion

• Water treatment

• Agriculture and horticulture

• Fishing tackle

• Enable biodegradation in

broadest range of ambient

environmental conditions

• Address growing preference for

sustainable solutions

Functional

Biodegradation

Performance

Additives

Key Product

Differentiators

How Metabolix

PHAs Add Value

Application Spaces

for Metabolix PHAs

© 2015 Metabolix9

Solid Portfolio of Commercial Opportunities

PVC Additives Application Role of PHA

Flooring Backing materials Fusion aid to enhance use of PVC recyclate

Wire and cable Jacketing Process aid, improved extrusion and surface finish

Building materials Extruded railing, vinyl siding Process aid, improves incorporation of fillers

Roofing Roofing membranes High molecular weight plastifier for permanence

PLA Additives Application Role of PHA

Packaging High clarity blown film Toughener, eliminates noise and creasing

Personal care Non-woven wipes Process aid, softening, compostability, biocontent

Compostable food service wares Plates, flatware, cups Ductility, toughness, compostability, biocontent

Organic waste diversion Filled blown film Tear resistance, toughness, compostability, biocontent

Dental equipment Injection molded tips Toughening and ductility

Functional Biodegradation Application Role of PHA

Biodegradable microbeads Cosmetic/ personal care ingredient Exfoliation, fresh water and marine biodegradation

Small aquariums water treatment Pellets in filtration cartridges Denitrification

Pond water treatment PHA spheres to deliver additives Fully biodegradable container

Railcar wheel lubrication Extruded lube systems Soil biodegradation

Hydroponics for algae control Pots for hydroponic plants Fresh water and soil biodegradation

Fishing tackle Artificial bait and lures Fresh water and marine biodegradation

© 2015 Metabolix10

Thank You

Questions ?

© 2015 Metabolix11