GERARD HOETMER

COMPANY STRATEGY

• Announce our new mission and identity

• Explain our new company strategy for 2013 – 2016

• Let you meet our senior management

• Provide details of our business models

• Set out our financial strategy and targets

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Objectives for today

• CSM’s evolution into a bio-based products company

• Bakery sale expected to complete in early Q3 2013

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The transformation of CSM into Corbion

• Worldwide leader in Biobased Food Ingredients and Biochemicals

• Sales 2012 of € 753 million, EBITDA excluding one-off items in 2012 of € 101 million

• Employees: ~1,800

• 10 production facilities

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Corbion profile

Mission

Creating value for our customers through our biobased solutions, designed by science, powered by nature and delivered through our dedication

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New brand introduction

• One organization built on two strong pillars

• Complementary technologies

• One supply chain

• Shared services for Finance & IT

• One R&D/Innovation Organization

• Distributed via 2 Sales & Marketing channels: - Biobased Food Ingredients - Biochemicals

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A NEW name

Enabling factors

• One focused organization with strong financial profile

• Disciplined investment plan to exploit growth prospects from innovations

• Unique global supply chain

• Large enough to make things happen, small enough to be agile Competitive advantages in the market place

• Leading edge fermentation technologies (many IP protected)

• Deep end market understanding and strong customer relationships

• Leading market positions

• Deep rooted skillset & knowledge base through experienced people

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Core strengths

• Customer loyalty metric: “Would you recommend Purac/Caravan to other businesses?”

• Net Promoter Score = Promoters (9-10) – Detractors (0-6) (scale 0-10)

• Both Caravan Ingredients and Purac top of their peer group

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Strengths confirmed by our customers

We will leverage our proprietary technologies and intimate understanding of customers and consumers to develop our market positions in biobased products Develop and enhance market positions by investing in:

• Higher-growth bio-based products

• The lowest cost supply chain

• Innovation opportunities using our key technology platforms

• Market access and applications expertise Our bio-based solutions give our customers:

• Improved Functionality

• Lower Cost in use

• Enhanced Environmental credentials

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Corbion strategy

Biobased Food ingredients Food Integrity • Texture and taste • Look & feel • Safety and health • Microbial spoilage

Biochemicals Use natural biochemicals in • Solvents • Coatings and adhesives • Pharmaceuticals • Animal Feed • Packaging and durables

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Strategic focus using core technologies

Products based on • Lactic Acid and derivatives • Lactylates • Ferments • Fortifiers • Enzymes

Products based on • Lactic Acid and derivatives • Lactylates • Lactides • Succinic • Others in development

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Competitive landscape

• Improving Freshness, significantly reducing waste levels in value chain

• Extending Shelf life, reducing returns and allowing for lower logistics costs

• Green biobased products, like bioplastics from renewable materials at competitive costs

• Using non-food feed stocks to reduce dependency on supply and costs of volatile raw materials

• Enhancing green credentials with sustainable processes reducing environmental impact, such as CO2, significantly

• Meeting stricter regulatory frameworks in health and safety

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Value delivered to customers and consumers

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Key innovation programs supporting our growth

• Strategically located production facilities on all continents

• 10 well maintained, modern facilities

• Balance between high volume/low cost and flexible production units

• New developments: - Gypsum free process to reduce raw material usage and

lower cost - Flexibility in raw materials , to reduce vulnerability to raw

material prices and lower cost - Production of new organic acids

• Capacity extension required in years to come in Lactic Acid production to support continued growth

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A worldwide efficient supply chain drives lower cost

• Value creation through organic growth increasing over time to 6-9% CAGR in 2013-

2016 period

• Strengthening core competencies and acquiring bolt-on capabilities

• Delivering healthy EBITDA margin >15% by 2016

• Requiring significant investment in manufacturing facilities

• Investing in future growth through innovation

Corbion, a niche player in selected, attractive segments

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Key takeaways