1. NBS 2020 – Impact study: Key Excerpted Takeaways Prepared for 1MBAS - National Biomass Strategy Delivery Unit (execution of NBS 2020)

2. About Lux Research Helps clients find new business opportunities from emerging technologies in physical and life sciences Offers ongoing technology and market intelligence, as well as market data and consulting services Over 250 clients on six continents – multinational corporations, investors, governments, and SMEs Global reach, with offices in Boston, New York, Amsterdam, Singapore, and Tokyo Combines deep technical expertise with business analysis to support strategic decisions More at www.luxresearchinc.comwww.luxresearchinc.com 2 Coverage areas  Advanced Materials  Agro Innovation  Alternative Fuels  Autonomous Systems 2.0  Big Data  Bio-based Materials and Chemicals  BioElectronics  Connected Objects and Platforms  Energy Electronics  Energy Storage  Exploration and Production  Food and Nutrition  Future Computing Platforms  Intelligent Buildings  Sensors  Solar  Sustainable Building Materials  Water  Wearable and Flexible Electronics

3. Lux leveraged a range of sources to ensure the completeness of the outside-in benchmarking activity Lux leveraged internal data, 50 bespoke primary interviews across all target countries, and additional secondary research to complete the study Existing Lux data: Alternative Fuels and Bio- based Materials & Chemicals capacity trackers Policy databases Prior reports and models Client-derived insights Ongoing insights from briefing targets Secondary research Supplement institutional knowledge with desk research Sources include: industry magazines, company announcements, conference proceedings, SEC filings, white papers, government websites, patents, and publications Primary interviews: 50+ interviews with corporations, VC’s, policy-makers, start-ups, and other industry stakeholders to validate benchmarking metrics and relative scoring Global biomass industry benchmarking 3

4. The framework measures the inputs and outputs of the entire ecosystem to deliver comprehensive benchmarking Public financing Government policy Presence of centers of excellence; industry consortia Mentorship for start-ups Private funding Quantity and quality of scientific output Intellectual property Local demand / consumption of product Jobs impact Total production of product Concentration of commercial projects Local industry presence Inputs are measured as “Robustness of infrastructure” Outputs are measured as “Commercial impact” Biomass industries 4

5. Between 2010-2013, barring Australia and Indonesia, all ten countries have made meaningful strides in the biomass arena Of the 10 focus countries, 8 made improvements in both of their composite scores Indonesia improved its “Commercial impact” composite score, but lower oil prices (driven by subsidies) made it more attractive to export the biomass and import fossil fuels 5 US MY FI DE IN AU ID TH CN BR

6. An “ecosystem” approach separates the leaders from the laggards; Malaysia truly dominates, especially in ASEAN Malaysia and Thailand are the only two ASEAN countries making it to the top-quadrant, where India in particular lags behind in the bottom-left quadrant. Malaysia made a giant leap, especially in robustness of infrastructure, thanks to great improvements in government support (available mentorship, financial support, and mandates). Indonesia slips behind in robustness of infrastructure compared to the other ASEAN countries. Due to a shift in government incentives, private finance shifted away from biomass towards other renewables. 2010 2013 MY TH ID IN CN AU

7. Thailand exemplifies a country with rich resources that falls short on successfully implementing an ecosystem approach Thailand proactively incentivizes end products Thailand also funds clusters such as the BIOTEC research units in Thailand Science Parks, which is coordinated by the NIA, part of the Royal Thai Government A lack of mentorship and early-stage support for small biotech companies results in a lack of domestic start-ups Thailand has yet to have tangible scientific impact on the global research community Overall, the country’s neglect of a few critical infrastructure inputs threatens healthy industry growth 7

8. Malaysia has strong gov’t mentorship and scientific output; global impact and private sector growth are the next hurdles Malaysia’s ease of doing business allows it to attract more FDI than neighbors Malaysia claims among the fastest-growing volume of scientific output; impact, however, could be improved Overall, Malaysia has seen great growth in government support (available mentorship, financial support, and mandates) over the past 5 years Although Malaysia’s private sector activities have yet to bear fruit, recent momentum has proved promising The Malaysian government has made impressive strides; private sector should quickly mobilize to ensure growth 8

9. Malaysia has several vehicles to support the bioeconomy; streamlining could help accelerate overall impact Government agencies and implementation vehicles: Ministry of Science, Technology, and Innovation (MOSTI) Malaysian Biotechnology Corporation (BiotechCorp) Malaysian Investment Development Authority (MIDA) Agensi Inovasi Malaysia (AIM) Malaysian Palm Oil Board (MPOB) Sustainable Energy Development Authority Malaysia (SEDA) Independent agencies: Malaysian Industry-Government Group for High Technology (MIGHT) Malaysian Palm Oil Council (MPOC) Policies and strategies: National Biotechnology Policy (NBP) National Biomass Strategy 2020 National Green Tech Policy Renewable Energy Act Economic Transformation Plan - Pemandu NKEA Labs Biotechnology Transformation Program (BTP)

10. 30,000 foot view of the Biomass sector in Malaysia Global Context Optimism Uncertain market demand Immature/ unproven technology Current Positives Multi-pronged strategy Financial support Strong momentum Future Focus Areas Coordination Communication Consistency 10 The 3 Cs