Bio-Succinic Acid

Corporate Overview 2014 Safe Harbor Statement

Forward-Looking Statements. This presentation contains express or implied forward-looking statements, which are based on current expectations of management. These statements relate to, among other things, our expectations regarding management’s plans, objectives, and strategies. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any projections of financial information; any statements about historical results that may suggest trends for our business and results of operations; any statements of the plans, strategies and objectives of management for future operations, including the timing, funding and construction of planned manufacturing facilities; any statements of expectation or belief regarding future events, potential markets or applications, the sizes of addressable markets, expected technology developments, strategic partnerships and collaborations, or enforceability of our intellectual property rights; any statements about the projected or expected economic or other benefits of our products compared to petroleum-derived equivalents, and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of risks, assumptions and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our most recent registration statement on Form S‐1 filed with the Securities and Exchange Commission (SEC), as well as other documents that may be filed by us from time to time with the SEC. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: our limited operating history, our inability to execute our manufacturing expansion strategy, including the construction of our planned facility in Sarnia, Ontario, our inability to comply with milestone covenants contained in certain of our agreements, our limited sales of bio-succinic acid to date, our inability to obtain additional financing, our inability to leverage our bio- succinic acid technology to develop and commercialize derivatives of bio-succinic acid and other bio-based building block chemicals, and a decrease in demand for bio-succinic acid, bio-based 1,4 BDO and other bio-succinic acid derivatives. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur and the timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. You should read the various documents we have filed with the SEC for more complete information about us. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.

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Ticker / Listing NYSE: BIOA Employees2 55 full time staff

IPO Date / Price May 10, 2013 / $10.00 Operating Expenses2 ~ $1.6 million / month

18.4 Million today 2 Montreal, Canada Shares Outstanding 26.1 Million fully-diluted Head Office

Market Capitalization1 $250 Million R&D Facilities Minneapolis, MN

Cash: $84 Million 2 Pomacle, France Cash & Debt Debt: $28 Million Demonstration Plant $2.7 Million (FY 2013) 1 $13.51 2 Current Share Price Product Sales $2.3 Million (FY 2013)

1 50,000 (30 day average) Underway, Mechanically Average Daily Volume First Commercial Plant Complete end 2014

Credit Suisse, Barclays, $14.06 / $3.96 52 Week High/Low Analyst Coverage Societe Gen., Pac Crest (1) As of March 13, 2014 (2) As of December 31st 2013

Conventional Oil-Based Process(1)

Corn Wheat Non-Food Pumping crude Deep sea Oil sands

Butane / 1,4 Butanediol Oil Maleic Tetrahydrofuran Benzene Anhydride (1,4 BDO) (THF)

Succinic Sugars Fermentation Conversion 1,4 Butanediol + CO Acid (SA) (1,4 BDO) Succinic Gammabutyrolactone 2 Acid (SA) (GBL) Gammabutyrolactone Tetrahydrofuran (GBL) (THF)

(1) We are Cheaper and Cleaner Typical petrochemical process for making SA and BDO, but not the only process

Bio-Succinic Acid $4.0bn(1) Resins & Coatings Plastics (SA) market

1,4-Butanediol $4.3bn De-icing Solutions Personal Care Products (BDO) market

Tetrahydrofuran $2.0bn (THF) market Plasticizers Polyurethanes

(1) Based on management estimates

Lubricants Spandex & Polyesters

Succinic Acid market is expected to grow at 25% to 30% CAGR over the next decade – growth will be driven by 1,4 BDO and polyurethanes

Source: Roland Berger – Bioplastics Market Study (August 2012)

Theoretical Kg of Sugar Product Mass Yield To Make a Needs less on Sugar Kg of Product sugar than Succinic Acid (SA) 112% 0.9 Kg any other bio-chemical Lactic Acid 100% 1.0 Kg One step 1,4 BDO via SA 85% 1.2 Kg fermentation needs 50% 1,3 Propanediol 63% 1.6 Kg more sugar 1,4 BDO via direct 54% 1.9 Kg than 2 step fermentation via succinic Ethanol 51% 2.0 Kg

Isobutanol 41% 2.4 Kg

Farnesene 29% 3.5 Kg

Source: Claudia Schmidt-Dannert, University of Minnesota and BioAmber.

Sugar Agnostic In North America, Sugar From Corn Wet Milling is Least Expensive

Dry 35 Ethanol Corn Wheat Milling % Sarnia Needs 90 million lbs Feed & Corn 37 Residual Tapioca Sorghum % Sarnia needs are Wet 0.46% of NA 12.4 15 Starch/Dextrose Milling capacity billion % Beets Cane bushels 30 Plants

(2012) High Fructose 13 Export Corn Syrup % 19.5 billion In the future, when lbs / year economically viable Source: Corn Refiners Association 2012 Annual report, USDA Economic Research Service 2012

50% Lower Cost without Subsidies Competitive with Oil at $35 / Barrel (1)

50% Lower Petroleum SA

Bio-SA CASH COST

@ $95 @ $6.50 barrel oil bushel corn (1) Historical Data past 30 years (Source: FactSet)

In Sarnia, we will save:

210,000 tons of CO2 equivalent gas / year 2 trillion BTUs of energy / year

Field-to-Gate Energy and Greenhouse Gas Emissions Associated with Succinic Acid Produced At BioAmber’s Facility In Sarnia Ontario, Canada

Evolution of Production Scale Production Plant in France

2,000 ton / year Capacity Plant

Feet • Scale: 350,000 liter fermenter 10,000 Liters 80,000 Liters 350,000 Liters 2,642 US gallons 21,134 US gallons 92,460 US gallons • Operating over 4 years 2007 2008 2010 • Improvements incorporated into design of our next plant

Our Customers Today Future Succinic Acid Demand Partial List of Customers (Amounts in metric tons)

80,000 Qualified by Customer 70,000 Supply Agreements 60,000 Planned 50,000 Sarnia 40,000 Capacity

30,000

20,000

10,000

- 2014 2015 2016 2017

• Agreements signed with over 140,000 MT of SA contracted over next five years (1) • >70% of customers don’t buy succinic today

(1) These supply agreements obligate our customers to exclusively fulfill their needs for bio-succinic acid from us, contingent on our ability to meet their price and other requirements, however there are no penalties in the event they do not purchase or we do not supply them with bio-succinic acid in the projected purchase volumes they have indicated in the agreements.

Sarnia Project Why Sarnia? Location: Sarnia, Ontario (near Detroit) Critical Mass: Canada’s “chemical valley” availability of employees, trades, contractors Initial Capacity: 30,000 MT SA Cheap Energy: Natural Gas & Electricity CAPEX: $125 Million +/- 10% Agriculture: Canada’s corn belt Land: Purchased and Permitted Logistics: Efficient rail, seaway and road

August 2013 Dec 2014 Q1 2015 2016 Construction Began Mechanical Completion Commissioning Expansion to & Start up 50,000 tons / Year

CAPEX: $125 million +/- 10% Sarnia Construction Site

Sources of Funding

$18M

Government Funds Secured (loans/grants) $45M

Government Loan in negotiation* $20M Projected Sarnia Ramp-Up Production as % of total capacity $42M 100% 80% 45% * Definitive loan agreement being drafted with lenders 2015 2016 2017

SA Gross Margin 50% gross margin Target for Sarnia

Sarnia Initial Target is

Facility Capital $4.17/kg $1.89/lb (initial) over $0.70 of annual Cost (1) $3.12/kg $1.42/lb (with expansion) gross margin for every $1.00 of equity BioAmber invests

BioAmber Equity $1.73/kg $0.79/lb (initial) Cost (2) $1.46/kg $0.66/lb (with expansion)

(1) Based on Sarnia facility 100% nameplate capacity utilization and facility capital costs for the initial plant and expansion of $125M and $31M, respectively. (2) Based on Sarnia facility partner equity commitments and execution of $20M loan under term sheet being negotiated.

Yeast Benefits Relative to Bacteria Exclusive Worldwide • One step License Lower Operating fermentation Costs PROVEN TECHNOLOGY • Low pH BIOA achieved • 10 years lactic acid experience • Higher sugar yield 35% reduction

• Successful scale-up in France • Simpler Lower Capital • Performance of yeast in fermentation France above Sarnia target Costs • Simpler purification BIOA achieved • Licensed by BASF, other Co.s • More scalable 50% reduction (outside the field of succinic) (bigger fermenters)

Corn Wheat Tapioca Sorghu Cane Beets m BDO Any Source of Sugar + CO2 Transform

THF Fermentation Purify

Crystallize

SA Denotes BioAmber proprietary IP

Vinmar Agreement Announced Jan 22, 2014

Vinmar Corporate Profile • Sales: Over US$4 billion (2012) Take-or-Pay Contract Terms • Volume: Over 3 million tons / year • Purchase 100% of output from: • Expertise: Marketing & Logistics - 100,000 ton/yr commercial plant - 4,000 ton/yr tolling plant • Chemical Project Experience: (financing, engineering, building) • 15 year term from commissioning

• BDO: was principal off-taker to • Invest in plant (minimum 10%) 75,000 ton Saudi plant for 8 years

Take-or-Pay Contract Possible Sources of Funding

Volume over term of the CAPEX: $350M contract: 1.5 million tons Project Financing BDO average price past (goal: minimum 50%) $175M 3 years: $2,780 per ton Government Support Potential sales over life (goal: minimum 20%) $70M of contract: $4.1 billion 60% $63M

Will Help Secure 30% $31.5M Project Financing 10% Goal: financial close $10.5M in 2015

Commercialization Development Research

2015 2016 2017 2018 2019 2020 $30 Billion Addressable Market

Sarnia Expansion 30,000 T 20,000 T

BDO Pilot BDO Plant Nylon 6,6 Nylon 6 4,000 T 100,000 T

Additional BDO+SA Plants

Adipic Polyesters Solvents Plant

2013 2014 2015 ✔ Secure a $25M loan Secure an Off-taker for a Begin Construction of from Hercules ✔ Commercial BDO Plant Sarnia Expansion (Additional 20,000 MT) Add Sarnia Baseload, Complete Scale up of Convert Existing Supply ✔ Yeast at Commercial Select N.A. Site and Contracts to Take-or-Pay Scale (France Plant) Close Financing for ✔ Secure More Government 100,000 ton BDO Plant Begin Construction of Funding for Sarnia Plant ✔ 30,000 MT Sarnia Plant Hit Sarnia Capacity Secure Bio-BDO Toll Ramp Target Make Final Milestone Manufacturing (~4,000 MT) ✔ Payment to Cargill for Complete Construction & Secure Strategic Partner Yeast Development Start Up of Sarnia Plant for Future Plants

Jean-Francois Huc Andrew Ashworth President & Chief Executive Officer Chief Financial Officer

James Babette Mike Fabrice Millis Pettersen Hartmann Orecchioni Chief Chief Executive VP Chief Technology Commercial Operations Officer Officer Officer

Additional Expertise from Fermentation & Chemical Industries

Proprietary Technology: Proven Biotechnology Platform with Strong IP Position

Large Addressable Markets: Existing “Drop-in” Markets and High Growth Opportunities

Low Cost Producer: Disruptive to Petrochemical Industry, No Subsidies, Sustainable

Mitigated Risk: Commercial Scale Production and Strong Visibility on Future Demand

Fully Funded: Sufficient Cash on Hand to Build and Start up Sarnia Plant

Clear Path for Growth: Foundation in Place for Additional Plants Beyond Sarnia

Investor Relations Michael Hartmann Executive Vice President [email protected] Tel: 514-844-8000 extension 120 www.bio-amber.com