Saffron Stevia Evolva 2011 Update Improving Lives with Biosynthetic Technologies Baker’s Yeast 22 March 2012 Vanilla Pomecin ™
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
Agenda � 2011 overview � Financial results � Shift towards Nutrition & Consumer Products � Saffron Evolva Proprietary Material Slide 3
Summary � Finances in-line, or better than, September guidance � Further shift towards Nutrition & Consumer Products � Looking to partner late-stage Pharma compounds □ But continue function-led discovery, including pharma discovery for partners � New pipeline product: Saffron Evolva Proprietary Material Slide 4
Finances 2011 - Revenues � CHF m CHF 11 million revenues 20 � One US bio-defence contract expired 15 � 49% of revenues from commercial contracts (2010: 22%) 10 � 5 Three new contracts □ IFF □ 0 BASF 2008 2009 2010 2011 □ Roquette (2012) Evolva Proprietary Material Slide 5
Finances 2011 - Expenses 25 G&A: Operating expenses CHF m 20 - Includes Abunda 15 45 acquisition expenses 10 40 5 35 0 2010 2011 30 25 Development: 25 20 - Phase IIa for EV-077 20 15 started slightly later 10 15 - Expiry of US contract 5 10 0 2010 2011 5 0 25 Discovery: 2010 2011 20 - Includes impairment 15 on equipment Discovery Development G&A 10 5 0 2010 2011 The grey bars indicate non-cash option expenses Evolva Proprietary Material Slide 6
Finances 2011 - Cash Operating loss, adjusted CHF m for non-cash items 40 - 30 + 20 Abunda 10 + SEDA 0 Starting cash Operating Investing cash Financing cash End cash cash flow flow flow 37.7 22.7 Evolva Proprietary Material Slide 7
Finances - Outlook � 2012 revenues around the 2011-level □ But to depend on partnering � Net loss of CHF 21 - 23million � Cash outflow of CHF 16 - 17 million □ From operating and investing activities � Financed well into 2013 � Up to CHF 29 million available from SEDA Evolva Proprietary Material Slide 8
2011 Year-End Shareholder Structure 12% � Lock-up and coordinated 41% sale terminated 26% 2% � 15% 100% free float 4% Evolva Share Ownership (3% threshold for Institutions) Asia institutional EU institutional Swiss institutional Treasury Management Other Evolva Proprietary Material Slide 9
Projects 2011 – Key Products Programme Progress Vanilla Ahead of schedule – already competitive in certain markets Key flavorant Next step: scale-up Pomecin TM Studies in various applications. Natural mould protectants Good efficacy in food- and crop protection applications. Stevia Made key Stevia components via fermentation Zero-calorie sweetener Next step: move into pilot-scale Saffron Identified pathways for production of components World’s most expensive spice EV-077 Completed Phase I Complications of diabetes Entered Phase IIa late 2011 EV-035 Advanced preclinical package Antibacterial Evolva Proprietary Material Slide 10
Shift towards Nutrition & Consumer Products To Discover And Provide Innovative, Sustainable Ingredients For Health, Nutrition And Wellness Evolva Proprietary Material Slide 11
Background Consumerisation of Health � Increasingly health-aware individuals � Western government budget pressures � Growing health needs in emerging markets � Creates demand for health & wellness products – that appealing, convenient, natural & affordable Economics, demographics, BASF's new Nutrition health science, regulatory & Health division frameworks [.. ] all leading to a established with effect significant opportunity for a new from Aug 1, 2010 industry located between food and pharma We [will] move away from a reliance on BASF, 2010 traditional ‘white pill, Peter Brabeck-Letmathe western markets.’ Chair, Nestle, Sept 2010 …..and many more Andrew Witty, CEO, GlaxoSmithKline, 2011 Evolva Proprietary Material Slide 12
Business Model � Discover and provide innovative, sustainable ingredients for health, nutrition & wellness □ Supply ingredients deriving from our platform to other companies Supply & License End Market End Market $ € ¥ Partners Evolva Proprietary Material Slide 13 Slide 13
Focus Areas � High-value ingredients that relevant to nutrition and consumer healthcare � Products where our technology allows provision of a DISRUPTIVE set of benefits to the customer □ Compounds that not “suppliable” before □ Functions that lacking in current product offers □ Greatly superior product quality / composition □ Significantly simpler, shorter, more traceable supply chains □ Fundamentally lower costs � We are NOT interested in commodities, though we will deploy our technology for partners who are Evolva Proprietary Material Slide 14
Pharma Products Will Be Partnered to Support Cashflow � EV-077 – vascular inflammation in diabetes □ In Phase IIa, studies conducted in Germany □ 366 million diabetics in world, increasing strongly □ Vascular inflammation main cause of morbidity & mortality □ Interest from multiple pharma companies □ Data expected end Q2 2012 � EV-035 – novel broad spectrum antibiotic EV-077 □ Preclinical. New class of broad spectrum antibiotics □ Novel mechanism, works on resistant strains □ Synergistic with Polymyxin B vs. key pathogens □ Discussions in parallel to creating further data Evolva Proprietary Material Slide 15
Saffron � The world’s most expensive spice □ $2,000 per kilo and upwards □ Sales of c. $ 660 million p.a. � But major obstacles prevent wider use □ Very high price prevents use in mass markets □ Difficult supply chain: - > 90% of world supply from Iran □ A “blend” of compounds, limiting product customisation � Evolva approach addresses these problems □ Can greatly reduce costs, and hence prices (f.x. 10-fold) □ Completely simplifies the supply chain □ Enables customised blending of ingredients Evolva Proprietary Material Slide 16
Prospects for Product Launches in Coming Years Programme On Market Key Benefits Addressable Market • Natural Vanilla 2013-2014 • Cost $ 600 million Key flavorant • Customisable • Natural Pomecin TM 2014-2015 • Potency $ 1 billion Natural mould protectants • Broad Range • Cost Stevia 2015 • Supply Chain $ 4 billion Zero-calorie sweetener • Customisable Saffron • Cost World’s most expensive 2015-2016 • Supply Chain $1-2 billion spice • Customisable Evolva Proprietary Material Slide 17
2012 has potential for strong value creation � Partnerships on technology (Roquette, Jan 2nd) � Partnerships on products � Phase IIa results on EV-077 � Efficacy data in multiple Pomecin TM applications � Scale-up on Vanilla � Preparations for pilot scale-up on Stevia Evolva Proprietary Material Slide 18
Questions ? Neil Goldsmith CEO , Evolva neilg@evolva.com Direct: +41 61 485 20 05 Mobile: +41 79 54 33 111 www.evolva.com
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