Q4 AND FY 2013 RESULTS GERARD HOETMER/KOOS KRAMER

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

Corbion highlights Q4 2013 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

Strategic Journey 2005 2013 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 2016 - 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

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

Innovation pipeline and R&D expenses YTD YTD million 2013 2012 R&D expenses cash-out 29.2 23.0 Capitalization (5.3) (4.8) Depreciation & amortization 1.9 1.1 Impairment 0.0 0.0 Supply chain Gypsum free Biomass Feasibility Capability Implementation Test scale Commercialization News R&D expenses 25.8 19.3 R&D expenses before D&A 23.9 18.2 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 2013. Will continue to increase in line with strategy 5

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 2014-2016 6

Financial results Q4/FY 2013 7

Profit & Loss million Q4 Q4 YTD YTD 2013 2012 2013 2012 Net Sales 184.6 182.5 743.6 753.7 EBITDA excl. one-off costs 22.3 21.1 99.2 99.0 Depreciation & Amortization (41.0) (43.2) One-off costs (19.2) (18.2) EBIT 39.0 37.6 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 7.2 25.6 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

Growth per segment in Q4 2013 Q4 2013 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

EBITDA bridge Q4 2013 0 0 30 25 20 15 5 2-3 -2-2 -4-3 R&D Other costs Volume growth 5.7% Higher R&D expenses drive up cost level 10 21 22-13 Final one-off costs related to divestment Bakery Supplies 5 10 0 10

EBITDA bridge FY 2013 120 11 0 4 2 0-2 -4-6 -8-6 R&D 2 Other costs 100 80-4 -5-1 -18 Volume driven growth of 11 M 60 Cost increase mostly R&D driven 40 20 0 99 99 81 One-off costs related to divestment Bakery Supplies, pension fund settlements, severance and IT disentanglement 11

Raw materials Development million 1Q13 2Q13 3Q13 4Q13 Pricing minus Raw Materials 0-2 0 2 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

Biobased Food Ingredients Q4 Q4 YTD YTD million 2013 2012 2013 2012 Net Sales 137.8 140.7 566.0 579.7 Organic growth 0.4% -1.8% 0.2% -1.0% EBITDA excl. one-off costs 23.5 24.8 105.7 106.9 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 160 150 140 130 120 110 100 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. 2012 2013 13

Biochemicals Q4 Q4 YTD YTD million 2013 2012 2013 2012 Net Sales 46.8 41.9 177.6 174.0 Organic growth 16.5% 4.1% 5.6% 3.4% EBITDA excl. one-off costs 3.4 3.9 15.9 18.1 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 Q4 50 40 30 20 10 0 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 2012 2013 14

Net debt bridge FY 2013 - YTD 950 850 750 650 550 450 36 2 66 70 201 2 842 Net cash level of 29 M Total cash flow discontinued business 842 M 350 250-511 150 50-50 29 15

Capital Expenditures YTD YTD Major Capex programs: Biomaterial plant US million 2013 2012 Maintenance 18.3 35.3 Expansion 57.2 20.4 Total Capex 75.5 55.7 New lactic acid production technology Succinic acid plant Spain 80 70 60 50 40 30 20 10 0 Capex ( mln) 2009 2010 2011 2012 2013 16

Q&A 17

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Appendix 19

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

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

Adjusted historical quarterly EBITDA s EBITDA before one-off costs in million Q1 2013 Q2 2013 Q3 2013 Q4 2013 Biobased Food Ingredients Reported 24.2 29.8 27.1 Adjusted 24.6 30.1 27.5 23.5 Biochemicals Reported 5.4 4.2 4.0 Adjusted 5.0 3.9 3.6 3.4 New reclassification of costs between segments No change to central costs and total EBITDA level 22

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