Production, Profit and Bio-Based Products Jim Imbler, President & CEO Advanced Biofuels Leadership Conference April 21, 2011

2 ZeaChem: Who We Are ● Produce advanced biofuels and bio-based chemicals ● Advantages:  Feedstock agnostic  Dedicated / Sustainable energy crops  Novel integration of known processes and natural organism  40% yield advantage  Diverse product portfolio addresses multiple $billion opportunities ● Compete with lowest cost alternative  Must be economical vs. oil to succeed Biorefiner with Demonstrated Success

33 Opportunity for Bio-based Chemicals Smaller market size but greater product diversity Higher value on per gallon equivalent basis Wider range of strategic partners More vulnerable to fossil fuel feedstock price volatility Infrastructure ready/drop into existing markets – not creating anything new Myth: Chemicals are always worth more

44 World Markets Projected to Grow Significantly Chemical Sector Commodity Chemicals1-2%6-10% Specialty Chemicals20-25%45-50% Fine Chemicals20-25%45-50% Polymers5-10%10-20% Source: BIO, Biobased Chemicals and Products; chart data source: USDA, U.S. Biobased Products Market Potential and Projections Through 2025 * The U.S. is the largest chemicals and plastics market in the world

55 Economic Benefits of Dedicated Energy Crops Feedstock price volatility causes difficulty for chemicals industry to absorb Long-term, fixed price contracts for dedicated energy crops offers valuable price stability

6 Why Sugar Cost and Yield Matter Sugar Cost Raw Material Price$/Pound $/Bbl Ethanol Corn (C 6 )$6/bushel$0.14 $86 Sugarcane (C 6 )$25/ton$0.09 $55 Cellulosic (C 5 & C 6 )$60/BDT $0.04 $18 Cellulosic feedstock lowest cost sugar Feedstock typically >50% of operating cost High yield sugar conversion matters

77 Solving the Feedstock Issue Dedicated Energy Crops  Land aggregation  Long-term contract  High density  3-yr rotation  Store on the stump  50,000 acres = 100M GPY Supplement with locally available agricultural residues (wheat straw, corn stover, etc.)

8 Multiple Petroleum Replacements Potential markets >$1 Trillion Customers will make NO adjustments to use ZeaChem’s products Use same equipment and change organism to produce multiple products Started C3 platform development ZeaChem Platform Propionic C3 Butyric C4 Acetic C2 Ethanol Ethylene Linear a-olefins Ethylene glycol Poly- ethylene Packaging PET Jet / Diesel VAM EVA Paint / Adhesives Acetic Anhydride Cellulosic Acetate Rayon / Filters Acetic Sales Gasoline Blending Butanol Butene Alkylate Drop-in Gasoline Rubber / Plastics Propanol Propylene Alkylate / Polygas Drop-in Gasoline / Alkylate Poly- propylene Automotive / Packaging Acrylics Super- Absorbents

9 Example Chemical Products and Markets ProductGlobal Market SizeEnd Product Uses C2 Products Acetic Acid$3.6BPaints, coatings and solvents Ethyl Acetate$1.6BPaints and adhesives Ethanol$46BGasoline blending Ethylene$179BPlastic bottles and bags Ethylene Glycol$15.6BAntifreeze, precursor to polymers C3 Products Propylene Glycol$1.4BDetergents, antifreeze and solvents Propylene$108.6BCaps, toys, and housewares Acrylic Acid & Esters$4BDetergents, antifreeze and solvents Methacrylic Acid & Esters $5.1BSurface coatings and inpregnation resins C4 Products Butanol$1.4BFuel, artificial flavorant, perfume

10 Boardman, OR, Port of Morrow 250,000 GPY integrated biorefinery - demo scale Intermediate chemical production beginning 2011 Development of 25M GPY 1 st Commercial underway Executing on Deployment Schematic of future facility

11 Why ZeaChem Chemicals Will Win Dedicated energy crops  Known sugar costs Multiple products  Diverse product portfolio Executing deployment  C2 platform at demo, then commercial  C3 platform started at lab Profit $

12 Thank You Jim Imbler President & CEO ZeaChem Inc. (303)