1. 1 Verenium’s process: getting to cellulosic ethanol

2. 2 Verenium’s Commercial Development Plans Near-term focus on US Gulf Coast Plan to position six projects for financial close, 2010-2012 Ultimately national / global play Commercial sites in development  Grass/energy cane/bagasse  Local agricultural partners  Good logistical interfaces  Some co-located Three (~100 acre) energy crop plantations  Energy cane and sorghum  Expand to 17k acres in 2 years  Validation platform for growers Commercial sites Energy crop sites

3. Vercipia/Highlands Ethanol: Project Overview Verenium / BP Partnership’s First Commercial-Scale, Next-Generation Cellulosic Ethanol Production Facility Located in Brighton, Highlands County 36MGY Capacity to meet needs of S. Florida fuels market (facing 10% blend mandate) Growing Services w/ Lykes Bros. on 20,000 farmable acres of Lykes’ 335,000 acre ranch $350M capital investment, generating 140 permanent jobs (production/agriculture) and over 400 temporary construction jobs

4. Feedstock plan: purpose-grown canes & grasses Sufficient biomass available in the U.S.+ to meet RFS demand Energy cane is among the highest yielding agricultural feedstocks FeedstockTechnologyEthanol Yield Gallons / Acre Feedstock Yield Dry Tons / Acre / Year Energy Cane - FLCellulosic1,83020 dry tons Switch Grass – U.S.Cellulosic7328.0 dry tons Sugar – BrazilSugar Fermentation6534.82 tons (sucrose) Sugar – U.S.Sugar Fermentation4933.64 tons (sucrose) Corn – U.S.Grain – Dry Mill4024.2 wet tons SoftwoodCellulosic4005.0 dry tons Corn StoverCellulosic2403.0 dry tons Wheat StrawCellulosic1682.1 dry tons 4