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1 CALYSTA Energy TM 6/26/2013 Copyright 2013 Calysta Energy Biological Gas-to-LiquidsTM Biological Gas-to-ChemicalsTM Methane to Liquid Fuels and Chemicals BIO Montreal - June 2013 CALYSTA Energy TM Introduction to Calysta Biological conversion of methane using engineered organisms: Leverage proprietary biological tools & algorithms to rapidly enable bio-based conversion of methane Strong IP position through stealth mode operation Actively developing methane as the next-generation feedstock to improve current bio-processes 2 2010 Concept Developed License & Financing 2011 Official Incorporation 2012 First public announcement 2013 First commercial deal announced CALYSTA Energy TM Thermodynamics and economics of carbon 3 Banholzer, W.

2 Et al. Chem Eng Progress, March 2008, S7-S14 All products are downhill from methane Key challenge is controlling the reaction, as full combustion is favored Methane is an advantaged feedstock relative to carbohydrates or CO2 for making diesel or other reduced products Methane is one of the cheapest sources of high-energy carbon 0 1 2 3 Coal Methane CO2 + 2H2 Ethane Carbon Monoxide Oil Carbohydrate Ethylene Ethanol Normalized Carbon Cost (US ct / MJ ) CALYSTA Energy TM Methanotrophs 4 Bacteria that metabolize methane as their sole source of carbon and energy; generally obligate methane-users. Form complex chloroplast-like membrane structures for methane oxidation Only known class of organisms that can fix methane Tools for metabolic engineering and heterologous expression have not been until now!

3 CALYSTA Energy TM Metabolic Engineering in Methanotrophs 5 Calysta has developed a set of novel engineering tools for methanotrophs Multiple promoters, markers, & plasmids cross-functional across species Efficient transformation methods, including electroporation Codon optimization, RBS tables, and other algorithms in progress Open-source approach to biology Tools are available to the research community at no cost CALYSTA Energy TM Advantaged approach to fermentation of chemicals & fuels Isoprene -Rubber -Plastics -Jet fuels Lactic Acid -PLA 2,3 Butanediol - Butadiene 4C Products -Crotonic acid -n-butanol Fatty Alcohols -Detergents Diesel Fuels Ethylene Succinic acid Calysta metabolically reengineered methanotrophs Fermentation Products Methane 6 CALYSTA Energy TM Pathway/organism interplay 7 Sugar Butanol 3-HP Fatty Acids Diols Ethanol Isoprene Lactate Succinate Yeast Methanotroph E.

4 Coli Methane Sugar-based Operating System Metabolic Software Convert existing product pathways to use methane as a feedstock Methane-based Operating System Hardware Hardware Hardware Lactate Operating system Developers Toolkit First-party software Metabolic Tools Calysta Products CALYSTA Energy TM Partnering to Move it Forward 8 .. CALYSTA Energy TM Multi-year R&D collaboration between 2 industry leaders Calysta: in feedstocks conversion using methanotrophic bacteria NatureWorks: in bioplastics, applications, and end-markets Exclusive partnership to research and develop a practical, world scale production process for fermenting methane into lactic acid Strategic fit: Calysta Perspective: Chemicals partnership a first step in goal of commercializing company s metabolic engineering assets, through licensing and partnerships with large producers of oil, gasoline, and chemicals.

5 Biological Gas-to-Liquids Biological Gas-to-Chemicals For NatureWorks: Part of a much broader strategy of renewable feedstock diversification Partnering to Move it Forward 9 CALYSTA Energy TM From Methane to Plastics 1 2 Methane is supplied directly to specialized bacteria called methanotrophs NatureWorks converts lactic acid monomers to long polymer chains making a range of bioplastics 3 Methanotrophs convert the gas into lactic acid through fermentation It starts with Methane 10 CALYSTA Energy TM 11 Biology provides a real opportunity to produce high-value chemicals from novel feedstocks Calysta is a first mover in bioconversion of methane, enabling preferred partners to dramatically reduce feedstock costs Best-in-class technology, experienced management team, solid financial backing.

6 Extensive intellectual property, proven business model, and the right set of tools and experience With first partnership in place, actively seeking additional partnerships to adapt validated pathways to methanotrophic hosts Calysta Energy: At the Right Place at the Right Time CALYSTA Energy TM 6/26/2013 Copyright 2013 Calysta Energy Biological Gas-to-LiquidsTM Biological Gas-to-ChemicalsTM Methane to Liquid Fuels and Chemicals BIO Montreal - June 2013