1. 1 CONFIDENTIAL Bill Brady President and CEO, Mascoma Corp, ABL Conference Washington, D.C. April 2011

2. Direct, low cost conversion: Biomass Fuels and Commodity Chemicals Converts non-food plant matter (cellulose) to fuels and chemicals cheaply No Sugars Required Cellulose is Low Cost and Abundant Low to negative carbon footprint Why this makes sense: Mascoma Corporation

3. BUILDING BIOREFINERIES “FUELS FIRST” Today : Ethanol Conversion across a variety of cellulosic feedstocks Tomorrow : Expansion to Advanced Fuels and Chemicals Our Pathway to Commercialization Develop a Commercial Pathway to Generate Revenue in the Short Term & Scale in the Long Term Get the Technology Ready Get Competitive With Oil – Now and Later Mascoma Corporation Pull it All Together in Big (Complex) Projects

4. CBP is “widely considered to be the ultimate low-cost configuration for cellulose hydrolysis and fermentation” – U.S. Department of Energy study Patented Consolidated BioProcessing (CBP) Technology DISTINCT, COMPREHENSIVE CAPABILITES IN BIOFUELS Feedstock Simple Pretreatment Bioprocessing & Distillation CBPEthanol Direct microbial conversion of biomass to ethanol and reduction of additional enzymes Consolidated BioProcessing Technology Low cost and abundant feedstock Pretreatment Advantages Flexible pretreatment system Proven reliability CBP Advantages Little to no additional enzymes Single tank fermentation Economic Advantages Low operating costs Low capital costs Advanced Biofuels & Chemicals Mascoma Corporation

5. DISTINCT, COMPREHENSIVE CAPABILITES IN BIOFUELS Mascoma Corporation

6. “Corn CBP” Transform Existing Ethanol Assets Build 2 nd Generation Ethanol Infrastructure Expansion Hardwood CBP : Kinross, MI Hardwood CBP : Alberta, CN Advanced Fuels Chemicals Geographic Expansion CLEAR PATH TO SCALE : Financial, Products, Markets Mascoma Corporation Bagasse : Brazil $2 Billion$50 - 100 Billion$1 + Trillion Market Size

7. Kinross/Alberta 2013 with incentives COMPETITIVE WITH CRUDE OIL PRODUCTION TODAY 2015 without incentives 2015 with incentives Mascoma Corporation

8. Mascoma J.M. Longyear Valero Frontier Renewable Resources, LLC Kinross, LLC 75%25% 40MMgal, 15MW Ethanol Facility 500kton of hardwood per annum $350 mm CapEx The Scope : Advanced Biofuel Tax Policy has to be Clear, Consistent, Long Term Market Infrastructure has to Enable Growth Venture Investors have done their job PE and Debt Providers want more certainty A Gap Exists LG Programs and Strategics can fill the gap Clear Market Signals Attract Investors Funding Gaps (aka “The Valley”)Managing Complex Partnerships Mascoma Corporation PULLING TOGETHER BIG, COMPLEX PROJECTS : Kinross Example The Issues :