Corbion Capital Markets Day Summary Company Overview - **Company**: Corbion (OTCPK:CSNV.Y) - **Event**: 2025 Capital Markets Day - **Date**: November 20, 2025 - **Key Focus**: Transition from Advance 2025 to Bright 2030 strategic plan Key Achievements and Financial Performance - **Advance 2025 Achievements**: - Margin expansion from 13% to 16% [1] - 10 consecutive quarters of positive free cash flow [1] - Top-line CAGR of 9% and EBITDA growth of 8% [2] - Specialty food and green business volume mix grew by 4% [1] - **Bright 2030 Goals**: - Targeting 3%-6% annual top-line sales growth for 2026-2028 [2] - Adjusted EBITDA margin goal of 18% [2] - Cumulative free cash flow target of EUR 270 million [2] Strategic Focus Areas - **Natural Preservation and Nutrition**: - Emphasis on clean label and natural ingredients due to consumer demand [3][4] - Regulatory pressures favoring sustainable food solutions [4] - Focus on functional foods due to aging population and health awareness [4] - **Market Dynamics**: - Addressable market for food preservation is nearly $3.5 billion, with a combined opportunity of $7 billion when including shelf life extension [6] - Nutrition market, including omega-3s, is also valued at nearly $7 billion, growing at 2%-6% per annum [7] Innovation and Technology - **Fermentation Technology**: - Unique ability to scale from lab to industrial production [9] - New lactic acid plant in Thailand enhances sustainability and cost efficiency [10][16] - Circular manufacturing process reduces carbon footprint [13] - **Product Portfolio**: - Focus on natural antimicrobials, antioxidants, and acidification solutions [27][28] - Successful replacement of synthetic ingredients with natural alternatives [30] Sustainability Commitment - **Climate Goals**: - Aim for net-zero emissions across the value chain by 2050 [21] - 99% of raw materials are verified deforestation-free [21] - Natural preservation solutions help prevent over 10 million tons of food waste annually [19] Financial Outlook - **Medium-Term Financial Targets**: - Organic sales growth of 3%-6% per annum [51] - Adjusted EBITDA margin improvement to around 18% by 2028 [51] - Cumulative free cash flow of around EUR 270 million over the next three years [51] - **Capital Allocation**: - Balanced approach focusing on organic growth and shareholder returns [58] - Anticipated CapEx around 6% of sales [62] Conclusion - Corbion is well-positioned to capitalize on market trends towards natural ingredients and sustainability, with a strong focus on innovation and operational efficiency. The Bright 2030 strategy aims to enhance growth and profitability while maintaining a commitment to environmental responsibility and consumer health.

Core Insights - Corbion is holding its Capital Markets Day to present its new strategy, BRIGHT 2030, aimed at leading in sustainable specialty food ingredients for preservation and nutrition [1][3] Strategic Priorities - The company aims to accelerate clean-label preservation and formulation in food to meet rising consumer demand for transparency and natural solutions [5] - Corbion plans to expand algal fermentation beyond omega-3 oils, creating new opportunities in both pet food and human nutrition [5] - Growth in Biomedical Polymers is a focus, reinforcing Corbion's presence in high-value healthcare applications [5] - A strategic ownership review of the PLA portfolio has been initiated [5] Financial Objectives (2026-2028) - The company targets organic sales growth of 3-6% per annum [5] - An adjusted EBITDA margin of approximately 18% is expected by 2028 [5] - Cumulative free cash flow is projected to reach €270 million over the period from 2026 to 2028 [5]