CSM nv

Nienoord 13 1112 XE Diemen

PO Box 349 1000 AH Amsterdam
The Netherlands

PRESS RELEASE T +31 (0)20 590 6911

F +31 (0)20 590 6262
press@corbion.com
www.corbion.com
DATE Diemen, June 18, 2013

CSM nv presents its new company name and

strategy
At the Capital Markets Day for analysts and investors in Amsterdam today, CSM will present its
new company name, Corbion, and its new growth strategy for the period 2013 to 2016. The
new name and strategy mark the latest stage of the ongoing transformation of the company
into a leading provider of biobased products, with activities in biobased food ingredients and
biochemicals. The company is on track to complete the earlier announced divestment of its
Bakery Supplies business to Rhne Capital early Q3 2013.

Built on the strong foundations of Caravan Ingredients and Purac, Corbion has a wealth of
expertise in the world of biobased food ingredients and biochemicals, combined with a rich
history of service and innovations spanning more than a century.

In biobased food ingredients, Corbion is a leading player offering high value added ingredients to
food companies, helping them solve their food integrity issues such as food safety, microbial
spoilage, look & feel and taste & smell. Corbion is especially strong in the bakery and meat
sectors. Organic growth will be driven by leveraging its leadership positions into adjacent
markets, and will be supported by selective M&A.

In biochemicals, Corbion is a fast-growing, innovative supplier of fermentation-derived,

sustainably sourced biochemicals. Corbion's aim is to replace fossil-based chemicals in selected
markets by offering products with similar or improved functionality, lower cost-in-use, and
enhanced environmental credentials. Accelerating growth in biochemicals will be underpinned
by investments in innovation and developing partnerships. Corbion has already reached a
number of key milestones, such as the recently announced partnerships with BASF and Cargill.

Gerard Hoetmer, CEO of Corbion: "Our new name and logo signify the next phase in the
development of our company. We will leverage our proprietary technologies and intimate
understanding of customers and consumers to further develop our market positions in biobased
products. In short, we create value for our customers through our biobased products, designed by
science, powered by nature and delivered through our dedication. This will in turn create value for
our shareholders."

Financial targets for the period 2013 2016

Average organic sales growth for Corbion is targeted at 6-9% CAGR. Within that, average organic
sales growth for the Biobased Food Ingredients division is targeted at 3-5%, with a target of 15-
20% for Biochemicals. The Biochemicals sales growth is expected to step up towards the end of
the period, as lactide sales (mostly related to bioplastics) are expected to increase, and the new

Registered, Amsterdam no. 33006580 PAGE 1 of 2

PRESS RELEASE

biobased molecule platforms start to generate initial revenues. Corbion's EBITDA margin is
targeted to exceed 15% by 2016, reflecting growth and efficiency initiatives.

Investments in long-term innovation, the supply chain and market access will increase
significantly in the coming years. In particular, there will be sizable investments in lactic acid
capacity expansion in 2014-2015, which will drive further growth of Corbion. Corbion expects to
be net cash/debt neutral by the end of 2013, taking into account the intended distributions to
shareholders. Thereafter, Corbion targets a long-term capital structure of 1.5x net debt/EBITDA.

Corbion intends to return 250 million to shareholders in 2013, after completion of the
divestment of the Bakery Supplies business, by means of a special all-cash dividend of 0.70 per
share (50 million in total) and the remainder through a share buy-back. Details of the
mechanism for the planned share buy-back will be announced after completion of the
divestment of the Bakery Supplies businesses, which is expected in early Q3 2013. Going
forward, Corbion targets a dividend pay-out ratio of approx. 35% of net profits adjusted for non-
cash one-off items. Corbion will critically review the debt position in relation to investment plans
periodically, and decide upon potential further returns.

An extraordinary general meeting of shareholders will be held on October 11, 2013 in view of the
new company name, the new dividend policy and the share buy-back. For the time being, the
company's listing on Euronext Amsterdam will continue under the name CSM.

Note to editor:
The new logo can be downloaded here: www.csmglobal.com/Corporate/Press/New-Company-Logo.aspx

For more information, please contact:

Press: Saskia Nuijten, Director Corporate Communications

T +31 (0)20 5906320, M +31 (0)6 21 812 453
Analysts and investors:
Jeroen van Harten, Director Investor Relations
T +31 (0)20 5906293, M +31(0)6 21 577 086

Background information:
Corbion: biobased solutions, designed by science, powered by nature, and delivered through dedication.
Corbion is the global market leader in lactic acid, lactic acid derivatives and lactides, and a leading company
in functional blends containing enzymes, emulsifiers, minerals and vitamins. The company delivers high
performance biobased products made from renewable resources and applied in global markets such as
bakery, meat, pharmaceuticals and medical devices, home and personal care, packaging, automotive,
coatings and resins. Its products have a differentiating functionality in all kinds of consumer products
worldwide. In 2012, Corbion generated annual sales of 753 million and had a workforce of 1,800
employees. Corbion is listed on NYSE Euronext Amsterdam (listing name is CSM). For more information:
www.corbion.com

Registered, Amsterdam no. 33006580 PAGE 2 of 2