Q4 AND FY 2013 RESULTS GERARD HOETMER/KOOS KRAMER

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1 Q4 AND FY 2013 RESULTS GERARD HOETMER/KOOS KRAMER 26 FEB 2014

2 Corbion highlights Q Organic sales growth of 4.2% Volumes were up 5.7% driven by strong volume performance of Biochemicals (+17.8%) EBITDA before one-off costs increased by 5.7%, at constant currencies 16.6% EBITDA margin improved by 50 bps to 12.1% (Q4 2012: 11.6%) Additional R&D expenses: 3.3 M Net cash position of 29.4 M Open market buy-back and tender offer completed New members Board of Management nominated by Supervisory Board º Tjerk de Ruiter CEO º Eddy van Rhede van der Kloot CFO º Sven Thormählen - CTO 2

7%, at constant currencies 16.6% EBITDA margin improved by 50 bps to 12.1% (Q4 2012: 11.6%) Additional R&D expenses: 3.

3 Strategic Journey From CSM to Corbion How we built the future - Thai factory (100 kt) Changing the supply chain of Purac, no more LA in Europe - Lactide plant (75 kt) First step to move into bioplastics with Purac - New platform Developed leading, gypsum free fermentation process - 2G biomass input Embarked on path to move to 2G feedstock by Succinic JV BASF Use fermentation skills beyond Lactic Acid What we did to make this possible - Sale of Sugar First step to bring more focus - 3S program Delivering the required funds to revitalize the company - Sale of Bakery Focus on Biobased products, reallocation of funds 3

Embarked on path to move to 2G feedstock by 2016 - Succinic JV BASF Use fermentation skills beyond Lactic Acid What we did to make this possible - Sale of

4 Ready for the Future Segment strategies sharpened; - Biobased Food Ingredients => Food Integrity strategy - Biochemicals => more focus on new molecules (FDCA, CalPro) New organization created, former Purac and Caravan integrated; - Market units focusing on selected product/market combinations - Global Supply Chain, Innovation and Support functions Innovation pipeline growing - Freshness solutions - Succinic acid - Lactides in Biochemicals - PLA - FDCA - Calcium Propionate New manufacturing process technologies developed to: - Significantly reduce costs - Lower environmental impact 4

combinations - Global Supply Chain, Innovation and Support functions Innovation pipeline growing - Freshness solutions - Succinic acid - Lactides

5 Innovation pipeline and R&D expenses YTD YTD million R&D expenses cash-out Capitalization (5.3) (4.8) Depreciation & amortization Impairment Supply chain Gypsum free Biomass Feasibility Capability Implementation Test scale Commercialization News R&D expenses R&D expenses before D&A Biobased Food Ingredients Ferments Ultra Fresh Sweet Ultra Fresh Premium Advantage Anti-Molding Technology Calcium Propionate Positive feedback from customers Positive feedback from customers Biochemicals PLA Animal Health Succinic Acid (BASF JV) Fiberlive (Biomaterials) Calcium Propionate FDCA R&D expenses increased by 6 M in Will continue to increase in line with strategy 5

2 Biobased Food Ingredients Ferments Ultra Fresh Sweet Ultra Fresh Premium Advantage Anti-Molding Technology Calcium Propionate Positive feedback from customers Positive feedback

6 Outlook 2014 We expect the current macro-economic environment to be challenging. However, we are optimistic on the progress we have made as a company, and on our growth prospects in the coming years. Sales growth to make progress towards target ranges Deflationary raw material markets expected to show positive effect R&D expenses expected to increase by 5 M (2013 increase: 6 M) With today s insights, we expect headwind from currencies No more one-off costs related to divestment Bakery Supplies businesses Interest expenses minimal Tax as a % of pre-tax profit between 20-25% Capital Expenditures in line with strategy; 300 M over the period

Sales growth to make progress towards target ranges Deflationary raw material markets expected to show positive effect R&D expenses expected to increase by 5 M

7 Financial results Q4/FY

8 Profit & Loss million Q4 Q4 YTD YTD Net Sales EBITDA excl. one-off costs Depreciation & Amortization (41.0) (43.2) One-off costs (19.2) (18.2) EBIT Financial income/expenses (16.6) (24.5) Result joint ventures/assoc. (1.2) (0.1) Taxes (14.0) 12.6 Result after tax from continued operations Result discontinued operations (3.0) (90.9) Result after tax 4.2 (65.3) Currencies impact EBITDA FY13 by -5 M. Q4 by -2 M Financial expenses lower as net debt turns into net cash in 2 nd half 8

5) Result joint ventures/assoc. (1.2) (0.1) Taxes (14.0) 12.6 Result after tax from continued operations 7.2 25.

9 Growth per segment in Q Q Total Growth Currency Growth in local currency Acquisitions / reclassifications Organic Price/Mix Volume Biobased Food Ingredients -2.1% -5.8% 3.7% 3.3% 0.4% -1.7% 2.1% Biochemicals 11.7% -4.8% 16.5% 0.0% 16.5% -1.3% 17.8% Total 1.1% -5.6% 6.7% 2.5% 4.2% -1.5% 5.7% Acquisition effect is sales to divested Bakery activities which are now classified as 3 rd party sales instead of intercompany sales 9

1% Biochemicals 11.7% -4.8% 16.5% 0.0% 16.5% -1.3% 17.8% Total 1.1% -5.6% 6.7% 2.5% 4.2% -1.5% 5.

10 EBITDA bridge Q R&D Other costs Volume growth 5.7% Higher R&D expenses drive up cost level Final one-off costs related to divestment Bakery Supplies

7% Higher R&D expenses drive up cost level 10 21

11 EBITDA bridge FY R&D 2 Other costs Volume driven growth of 11 M 60 Cost increase mostly R&D driven One-off costs related to divestment Bakery Supplies, pension fund settlements, severance and IT disentanglement 11

mostly R&D driven 40 20 0 99 99 81 One-off costs related to

12 Raw materials Development million 1Q13 2Q13 3Q13 4Q13 Pricing minus Raw Materials as % of total RM spend 25% RM as % of total net sales 21% Carbohydrates, 33% 20% 15% 14% Other, 49% 10% 8% 5% Fats & Oils, 18% 0% Carbohydrates Fats & Oils Other Raw materials have come down and are gradually supporting our competitive position 12

20% 15% 14% Other, 49% 10% 8% 5% Fats & Oils, 18% 0% Carbohydrates Fats & Oils Other

13 Biobased Food Ingredients Q4 Q4 YTD YTD million Net Sales Organic growth 0.4% -1.8% 0.2% -1.0% EBITDA excl. one-off costs Margin 17.1% 17.6% 18.7% 18.4% Volume growth in all market units in Q4 Margin in Q4 impacted by reclassification interco to 3 rd party and additional R&D cost Net Sales ( mln) EBITDA margin before one-off costs (RHS) 22.0% 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Bakery: Proprietary market data shows small increase bakery consumption after 10 quarters negative Meat: Full year growth positive after 2 years decline. Gained market share

4% Volume growth in all market units in Q4 Margin in Q4 impacted by reclassification interco to 3 rd party and additional R&D cost 160 150 140 130 120 110 100 Net Sales (

14 Biochemicals Q4 Q4 YTD YTD million Net Sales Organic growth 16.5% 4.1% 5.6% 3.4% EBITDA excl. one-off costs Margin 7.3% 9.3% 9.0% 10.4% Strong volume growth in full year (11%) and Q4 (18%) Agrochemical and animal feed acidifiers pushing growth in Q Net Sales ( mln) EBITDA margin before one-off costs (RHS) 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EBITDA margin declining due to higher (R&D) costs. Lion share of incremental Corbion R&D costs

4% Strong volume growth in full year (11%) and Q4 (18%) Agrochemical and animal feed acidifiers pushing growth in Q4 50 40 30 20 10 0 Net

15 Net debt bridge FY YTD Net cash level of 29 M Total cash flow discontinued business 842 M

16 Capital Expenditures YTD YTD Major Capex programs: Biomaterial plant US million Maintenance Expansion Total Capex New lactic acid production technology Succinic acid plant Spain Capex ( mln)

17 Q&A 17

18 18 26/2/2014

19 Appendix 19

20 Growth per segment YTD 2013 FY 2013 Total Growth Currency Growth in local currency Acquisitions / reclassifications Organic Price/Mix Volume Biobased Food Ingredients -2.4% -4.2% 1.8% 1.6% 0.2% -0.7% 0.9% Biochemicals 2.1% -3.5% 5.6% 0.0% 5.6% -5.3% 10.9% Total -1.3% -4.1% 2.8% 1.3% 1.5% -1.5% 3.0% Acquisition effect is sales to divested Bakery activities which are now classified as 3 rd party sales instead of intercompany sales 20

9% Biochemicals 2.1% -3.5% 5.6% 0.0% 5.6% -5.3% 10.9% Total -1.3% -4.1% 2.8% 1.3% 1.5% -1.5% 3.

21 Divestment Bakery million Selling price 1050 Sale of pension liabilities 132 Normalization of work capital 44 Net proceeds 874 Returned to shareholders 250 Debt reduction 624 Divestment result (gross) 6 21

22 Adjusted historical quarterly EBITDA s EBITDA before one-off costs in million Q Q Q Q Biobased Food Ingredients Reported Adjusted Biochemicals Reported Adjusted New reclassification of costs between segments No change to central costs and total EBITDA level 22

23 23 26/2/2014

Corbion Q2 and first half 2014 results

Corbion Q2 and first half 2014 results Corbion nv Piet Heinkade 127 1019 GM Amsterdam PO Box 349 1000 AH Amsterdam The Netherlands T +31 (0)20 590 6911 Press@corbion.com www.corbion.com www.meetcorbion.com DATE 13 August 2014 Corbion Q2 and