The Aemetis Biorefinery Advanced Renewable Fuels and Chemicals - PowerPoint PPT Presentation

The Aemetis Biorefinery Advanced Renewable Fuels and Chemicals Produced by Conversion of Existing Biofuels Facilities August 2014

Disclaimer Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward- looking by reason of context, the words “ may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue ” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those projected in such statements due to, without limitation: (i) general economic conditions, (ii) ethanol and gasoline prices, (iii) commodity prices, (iv) distillers grain markets, (v) supply and demand factors, (vi) transportation rates for rail/trucks, (vii) interest rate levels, (viii) ethanol imports, (ix) changing levels of competition, (x) changes in laws and regulations, including govt. support/incentives for biofuels, (xi) changes in process technologies, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors on a local, regional, national and/or global basis, (xv) natural gas prices, and (xvi) chemicals and enzyme prices. The matters discussed herein may also involve risks and uncertainties described from time to time in the company’s annual reports and/or auditors’ financial statements. The company assumes no obligation to update any forward-looking information contained herein, and assumes no liability for the accuracy of any of the information presented herein as of a future date. 2

Aemetis Aemetis means “The One Prudent Wisdom” Replacing crude oil with renewable resources for fuels and chemicals “Ae” Means “The One” in Scottish “Metis” means “Prudent Wisdom” in Greek 3

Aemetis Vision Aemetis is an international renewable fuels and biochemicals company using patented industrial biotechnology for the conversion of first- generation ethanol and biodiesel plants into advanced biorefineries. Traditional Corn Ethanol and Advanced Biofuels Non-Food, Low Carbon, Less Land Vegetable Oil Biodiesel (Sorghum/Tallow Feedstocks) Fuels/Chemicals PAST PRESENT FUTURE G1 G2 G3 4

Aemetis Value Proposition  Strong positive cash flow from $178 million biofuels/biochemical revenues in 2013  110 million gallons capacity in California and India cost $165 million to build/upgrade  Revenue growth to $400 million per year without additional capital expenditures  Patented technology to produce advanced fuels by upgrading facilities  Lower cost per gallon than gasoline and diesel, with high oxygen/octane benefits  Strong management and board leadership with proven track record 5

Table of Contents 1. Introduction 7 2. Company Overview 12 3. Industry Overview 26 4. Company Highlights 37 5. Financial Overview 42 6

Introduction 7

Aemetis Summary  Aemetis, Inc. was founded in February 2006 by biofuels industry veteran Eric McAfee and has since grown to become a leading second-generation renewable fuels and specialty chemicals company with $178 million in revenues during 2013  Since its formation, the Company’s primary focus has been the development and deployment of patented industrial biotechnology to convert first-generation ethanol and biodiesel plants (which primarily use corn and edible oils as feedstocks) into advanced second-generation biorefineries (which are capable of using non-food substitutes to produce ethanol, biodiesel, renewable diesel and renewable jet fuel, and renewable chemicals and feed products)  Aemetis currently wholly owns and operates two integrated second-generation plants with combined production capacity of 110 million gallons per year: Keyes Plant India Plant Location: Keyes, California (Northern California) Location: Kakinada, India Type: Ethanol renewable fuels plant Type: Biodiesel and renewable chemicals plant Capacity: 60 million gallons per year Capacity: 50 million gallons per year Feedstock: Grain sorghum and corn Feedstock: Waste tallow, cooking oil and Stearine In August 2013, Aemetis Keyes became the first converted corn In 2013, India began phasing out diesel subsidies, causing ethanol plant certified by the EPA as a producer approved to prices to rise and biodiesel margins to grow. The EU market use milo/biogas/CHP to receive D5 Advanced Biofuel RIN’s. and California are rapidly growing, profitable markets for the non-food, low-carbon biodiesel produced in India.  Aemetis operates a biotechnology R&D lab in Maryland and holds five advanced biofuels technology patents  The Keyes plant generated $10 million of Adjusted EBITDA in Q4 2013; $14 million in Q1 2014; and $9 million Q2 2014  The Company is a federally approved EB-5 borrower for up to $36 million of 3% interest rate subordinated debt funding, and has received $5 million from the EB-5 offering into escrow or funded to Company. 8

Aemetis Overview  Keyes Plant was originally constructed in 2008 at a cost of $132 million, then upgraded at a cost of $13 million for a total investment of $145 million Strong Asset Values  India plant was originally constructed in 2008 at a cost of $22 million and upgraded with glycerin refinery  $165 million aggregate construction cost for 100% owned plant assets  Proximity of the Keyes Plant to the deep water port of Stockton and Union Pacific rail system provides access to milo feedstock from key international and domestic markets Strategically Located to  California is a $1.3 billion ethanol market and a $120 million wet distillers grains (“WDG”) market with more Serve Large Addressable than one million dairy cows Markets  100% of ethanol and distillers grains, an ethanol by-product, are sold within 80 miles of the Keyes Plant  India is a large producer of waste Stearine and beef tallow, the key feedstocks for the India Plant  Environmental regulation and favorable secular trends are expected to drive substantial increases in the Favorable Demand / demand for biofuels Supply Dynamics  Current production capacity of advanced biofuels is well below future mandated levels  Production of advanced biofuels using less expensive milo is expected to substantially improve profitability at the Keyes Plant Healthy Margins  Deregulation of diesel price in India is expected to result in substantial margin improvement for Aemetis’ biodiesel plant in India  Plant conversion, industry trends and margin expansion are contributing to improving cash flow Strong Free Cash Flow  Four quarters positive EBITDA: record Adjusted EBITDA of $10 million in Q4 2013 and $14 million in Q1 2014  Aemetis has five granted patents in next generation technologies Substantial Upside from Next Generation  First global licensee of renewable jet and diesel fuel technology from Chevron Lummus and Applied Technology Research Associates (“Chevron Lummus / ARA”)  Founded in 2006, Aemetis is led by biofuels industry veterans with extensive global experience Experienced  Members of the Board of Directors have extensive expertise in the chemicals, agriculture, food, Management Team molecular biology and biotechnology industries 9

Management Team Eric A. McAfee, Chairman and CEO  Founding shareholder of $800 million revenues Pacific Ethanol (NASDAQ: PEIX)  Founding shareholder of several publicly-held energy companies including Evolution Petroleum (NYSE: EPM)  Founded seven public companies and funded twenty-five private companies as principal investor  Appointed as GlobalScot by First Minister of Scotland to advise on renewable energy Todd Waltz, EVP and CFO  Joined Aemetis in 2007 as Corporate Controller and became CFO in 2010  Previously held senior financial management roles with Apple, Inc. for 12 years  Litton Industries five years in accounting roles  Ernst & Young five years to earn CPA and tax training Andy Foster, EVP and President, Aemetis Advanced Fuels  Joined Aemetis in 2006 and has held senior leadership positions including Senior Vice President, Chief Operating Officer and his current role as President of the advanced fuels business  Previously served as an executive at BMC Software, Cadence Design Systems and eSilicon Corporation  Served in the George H.W. Bush White House (1989-1992) as Associate Director - Office of Political Affairs and was Deputy Chief of Staff for Illinois Governor Edgar for five years Sanjeev Gupta, EVP and President, Aemetis International  Joined Aemetis in 2007 as head of Biofuels Marketing and became Managing Director of Universal Biofuels subsidiary in India in 2008  Previously head of petrochemical trading company with about $250 million of annual revenue and offices on several continents  Previously General Manager of International Marketing for Britannia Industries, a subsidiary of Nabisco Brands in India 10