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(1)

Introduction to

Feed Amino Acids

Bank of America Merrill Lynch Chemicals Conference

Dr. Reiner Beste

President Health & Nutrition 3 December 2014

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Financials for fiscal 2013

* Reorganized to Specialty Materials from January 2015

Consumer, Health & Nutrition Sales: €4,171 m

Adj. EBITDA / margin: €922 m / 22.1%

Baby Care (~20%)

Personal Care (~10%)

Comfort & Insulation (~10%)

Interface & Performance (~5%) Household Care (~5%)

Nutrition – Amino acids for efficient animal nutrition (~35% of segment sales)

CyPlus Technologies* (~5%) Health Care (~10%)

Positioning within Evonik Strong pillar of the

Consumer, Health & Nutrition Segment

SegmentBusiness Lines

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Table of contents

1 Facts & figures 2

Key success factors

3

Future growth drivers

4

Summary

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Top

#1

Market leader in amino acids for animal nutrition

>90%

Direct sales to customers Global production

setup on

4

continents

Feed supplementation with DL-Methionine saves

~23t

CO

2

by emitting only 1t in production

Business at a glance

Preferred partner for sustainable and healthy animal nutrition products and solutions

>6%

Market growth for

methionine

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Amino acids

The building blocks of life

Proteins

• Fulfill vital tasks in the body

• e.g. building up muscles tissue, digesting food, contracting muscles, enabling immune system, etc.

20 amino acids

8 essential amino acids

 e.g. Methionine, Lysine, Threonine

12 nonessential amino acids made up from

Produced by the human body itself Have to be ingested

as part of a healthy diet

 e.g. via meat consumption

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Unselective

= Inefficient

Law of the minimum

Amino acids help to utilize feed efficiency

Law of the minimum Growth is controlled not by the total amount of resources available, but by the scarcest resource

Supplementing DL-Methionine

Selective

= Efficient

Using only conventional feed

resources

(e.g. soybeans)

The amino acid methionine limits

the growth of poultry

Amino acids

help to balance the amino acid composition in animal feed in such a way that the whole feed can be utilized efficiently be livestock

Balanced nutrition

• Reduced amount of feed needed (cost)

• Healthier livestock

• Reduced waste Example poultry nutrition

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Balanced Nutrition

Typical animal feed ingredients show imbalances in amino acid profiles

Balanced animal nutrition

Source: Evonik (AMINODat 2006)

52

37

77

44

98

118

87 70

97

107

59

93

0 100

Methionine Lysine Threonine

AMINODat®

Wheat Soy Peas Rape seed

Significant efficiency potential from use of amino acids Nutritional demand of broilers

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#1 Others

GBT Novus

CJ

Adisseo

Ajinomoto Feed additives market by product

(in € bn, 2013)

Amino acids market by company

(in € bn, 2013)

Others Organic

acids Vitamins

Minerals

Amino acids

• Amino acids making up biggest part

• Expected growth rate for amino acids:

7-9% (CAGR 2010-2017)

Global amino acids market

Evonik with market leading position

• Evonik with market leading position

• Sole supplier offering the first four limiting amino acids

• Strong competence in both chemical and biotechnology fields

(e.g. Methionine, Lysine)

€19 bn

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Global meat demand

Strong growth in global meat demand even outpaced by feed amino acids

• Growth driven by socio-demographic megatrends

• Poultry by far strongest growing type of meat (CAGR ~3%)

• Clear efficiency and hence cost and ecological advantages of amino acids vs. traditional feed resources

• Support from professionalization of farming and meat production

0 2.000 4.000 6.000

Lysine Methionine kt

2018 2016

2014 2012

2010 2008

2006

2004 2020

>8%

6-8%

CAGR

0 100 200 300 400

2020 2003

Developing countries

Developed countries

CAGR

(world)

1.8%

2.7%

Strong increase in global meat consumption Growth in amino acids even stronger

0.8%

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Increased efficiency &

quality of animal nutrition

Reduced feed costs for our customers Improved animal health

Increased sustainability of meat production

Feed supplementation with DL-Methionine saves about:

Efficient animal nutrition

Efficient animal nutrition

Answer to rising meat demand and scarce resources

With supplementing amino acids

-25%

Without supplementing amino acids

Use of antibiotics / kg salmon

140 g 0.08 g

1990

2009 -94%

23t

CO2

26t

Ammonia

7t

Nitrate

by emitting only 1t in production

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Table of contents

1

Facts & figures

2 Key success factors 3

Future growth drivers

4

Summary

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Key success factors for efficient animal nutrition

Global market access

Leading cost position

System solution offering

Innovation leadership

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Mobile, Alabama, USA

Antwerp, Belgium

Wesseling, Germany

Singapore (H2 2014)

Global production setup

Plants located strategically at logistics hubs

Proximity to customers

Favorable raw material access

All facilities are world-scale sized

Dedicated sales forces in more than 120 countries

Direct sales to customers (>90%)

First mover in emerging countries

Castro, Brazil (H1 2015)

Volgodonsk, Russia (H2 2015) Blair,

Nebraska, USA

Methionine production (Total Capacity 2013: ~430 kt, + 150 kt by Singapore plant, ramping-up since Nov. 2014) Lysine production (Capacity 2013: ~300kt)

Global market access

Global production setup and strong local

sales and service network

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60 years of experience and process know-how

Continuously optimized production process

Production fully backward integrated

Feedstock security with long-term contracts

High supply reliability for our customers

Economies of scale with world-scale plants

Sales, marketing and distribution synergies from offering several amino acids

Raw materials

Methionine specific

intermediates1 Methionine

Propene

Methanol Sulfur

Methane Ammonia

Acrolein

Hydrocyanic acid MMP

MetAMINO® Methyl mercaptane

Implemented Innovations:

Economy of scale of 150 kt plant-Verbund

New highly efficient energy integration concept

Utilization of proprietary process innovation in green-field set-up

Evonik production set up

Advantages of Evonik setup in amino acids

Example: Unique setup of new Singapore Methionine complex

Leading cost position

Excellence in process technology and

significant economies of scale

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Customer Value Chain

Genetics/Reproduction Feed manufacturing Livestock production Consumption

Hatchery Breeding Feed formulation Feed mill management/ Nutrition/

Quality control Quality control

Livestock production management Retail/Consumer

Quality management

Purchasing Quality control

Evonik services

System solution offering

Tailor-made services along the value chain

of our customers

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Helping our customers to meet their sustainability challenges

All processing steps included

AMINOFootprint®: Easy-to-use software

Certified Information Sound decision

CO2 GWP

SO2 Acidification

PO4 Eutrophication

Certified results Differentiation One-to-one use in further processing steps Data

For all feed ingredients

Transport scenario

Interactive world map

Default diets

Customized by region

Diet comparison

Identify sustainable diets

Certified Input Certified data Certified information

System solution offering

Tailor-made services along the value chain

Example: AMINOFootprint

®

- sustainabilty tool

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 DL-Methionine for aquaculture® and AQUAVI®Lys for fish

 Innovative Methionine source for crustaceans:

AQUAVI®Met-Met Key advantages:

 Highly efficient substitution for traditional protein sources (fishmeal)

 Scientifically proven performance for many aquatic species

 Appropriate particle size distribution and low water solubility

2020 (projection)

51%

49%

70%

30%

2010

aquaculture wild catch

Dynamic of the Aquaculture Market New products for aquaculture

Innovation leadership

First amino acid player to offer a tailored

solution for efficient nutrition of crustaceans

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Table of contents

1

Facts & figures

2

Key success factors

3 Future growth drivers 4

Summary

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Leveraging effect of

“next limiting” amino acids

Advantage of full amino acids portfolio Driving market growth through leveraging effect

Solution provider for sustainable nutrition

First mover and preferred development partner for new applications Methionine

Lysine New animal species &

new applications

Growing within the amino acid core Extending into next limiting amino acids and new application fields and species

Introducing + 1 kt Tryptophan

+ 2 kt Methionine + 7 kt Lysine + 3 kt Threonine

• Example Tryptophan:

• Sustainable nutrition concepts require further amino acids

• Aquaculture:

• AQUAVI®Met-Met

• AQUAVI®Lys

• Dairy Cows:

• Mepron®

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• Leveraging our strength of the amino acid core

• Drive differentiation to add value for customers and markets

• Generate additional growth beyond strong amino acid core

Growth Agenda

Portfolio strategy for animal nutrition

Future growth in the animal nutrition business

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Table of contents

1

Facts & figures

2

Key success factors

3

Future growth drivers

4 Summary

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Summary

The preferred partner for the development of solutions for sustainable animal nutrition

• Market leader and sole supplier of the first four limiting amino acids with:

• Close customer partnerships & joint innovation

• Growth projects around the globe

• Well positioned to drive future growth by:

• Constantly extending the business into next limiting amino acids and new application fields and species

• Generate additional growth beyond strong amino

acid core

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Backup

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Strategic rationale

Investment program

Start-up of new Methionine complex in Singapore

Q4 2014 Start-up on time and on budget 2010-2012

Market analysis and investment decision

2012-2014 Construction Phase

• Methionine complex with a capacity of 150 kt and >€500 m investment volume

• Fully integrated facility, with all major precursors from in-house production

• New standards in production efficiency (raw materials, energy and labor productivity)

“Me5 Singapore” project overview

• Complete global asset footprint – perfect supplement to production sites in Europe and the United States

• Expand on cost and technology leadership

• Proximity to growth markets – excellent logistics hub for reaching all destinations in Asia

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“AQUAVI® Met-Met”, Antwerp

→ Methionine specialty for aquaculture applications

Further projects in amino acids

Support strong growth in the amino acid core business

Biolys ®, Brazil

→ 100 kt Biolys® site in Parana

→ Co-location Cargill corn mill 2

Biolys ®- JV, Russia

→ 100 kt Biolys® site in Volgodonsk, Rostov Prov.

→ C-Source (wheat) back-integration 3

1 • Unique product for high growth

market aquaculture

• Sustainability as growth driver

• Local production hub in Latin Am.

• Attractive feedstock availability (Sugar, Corn)

• Production hub in emerging Eastern Europe

• Attractive feedstock availability (Wheat)

Projects in execution Strategic rationale

References

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