Avantium N : Avantium appoints Yap Chie Cheung as Managing Director of Renewable Chemistries

Press release

Avantium appoints Yap Chie Cheung as

Managing Director of Renewable

Chemistries

AMSTERDAM, 29 November 2022, 07:00 hrs CEST - Avantium N.V., a leading technology company in renewable chemistry, announces today that it has appointed Yap Chie Cheung as its Managing Director for the Renewable Chemistries business unit. Yap Chie will join Avantium on 1 February 2023. She will become a member of the Avantium Management Team, and help further drive the commercialisation of Avantium's renewable chemistry technologies including Ray Technology™ for the production of plantMEG™ and plantMPG™.

Yap Chie Cheung has held several senior positions in sales, market development and global business management at International Flavors & Fragrances (IFF), Cargill and DSM over a 25-year period. She currently holds the position of Global Business Unit Director at the Nourish Division of IFF. Before joining IFF in 2020, Yap Chie worked as Director Bioindustrial and Proteins Europe for Cargill. From 1998 to 2015, Yap Chie worked for DSM in several positions, including in the Bio-based Products & Services division.

Avantium CEO Tom van Aken comments: "With the appointment of Yap Chie Cheung, we strengthen the leadership of our Renewable Chemistries business. She brings significant commercial and global management experience and has a proven track record in initiating and setting up partnerships within the value chain in the biobased industry. We believe that her expertise can help us in scaling up the Ray Technology™ to the commercial stage. We look forward to her contribution to the successful growth of Avantium."

About Avantium

Avantium is a leading technology development company and a frontrunner in renewable chemistry. Avantium develops novel technologies based on renewable carbon sources as an alternative to fossil- based chemicals and plastics. The company currently has three technologies at pilot and demonstration phase. The most advanced technology is the YXY® plant-to-plastics-technology that catalytically converts plant-based sugars into FDCA (furandicarboxylic acid), the key building block for the sustainable plastic PEF (polyethylene furanoate). Avantium has successfully demonstrated the YXY® Technology at its pilot plant in Geleen, the Netherlands, and has started construction of the world's first commercial plant in 2022, with planned large-scale production of PEF in 2024. The second technology is Ray Technology™ and catalytically converts industrial sugars to plant-based MEG (mono-ethylene glycol) and plant-based MPG (mono-propylene glycol): plantMEG™ and plantMPG™. Avantium is scaling up its Ray Technology™ and the demonstration plant in Delfzijl, the Netherlands opened in November 2019. The third technology is called the Dawn Technology™ that converts non-food biomass into industrial sugars and lignin in order to help transition the chemicals and materials industries to non-fossil resources. In 2018, Avantium opened the Dawn Technology™ pilot biorefinery in Delfzijl, the Netherlands. Avantium also provides R&D solutions in the field of sustainable chemistry and is the leading provider of advanced catalyst testing technology and services to accelerate catalyst R&D. Avantium works in partnership with like-minded companies around the globe to create revolutionary renewable chemistry solutions from invention to commercial scale.

Avantium's shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX). Avantium is incorporated in the Euronext Amsterdam SmallCap Index (AScX). Its offices and headquarters are in Amsterdam, the Netherlands.

Avantium N.V., Zekeringstraat 29, 1014 BV Amsterdam, the Netherlands, [phone],

P.O. Box 2915, 1000 CX, Amsterdam, the Netherlands, [e-mail],www.avantium.com, C of C: 34138918

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Press release

For more information:

Media Relations:

Caroline van Reedt Dortland, Director Communications, Avantium [phone] /[phone],[e-mail]

Investor Relations:

Miriam Wijnands, Manager Investor Relations [phone] /[phone],[e-mail]

Avantium N.V., Zekeringstraat 29, 1014 BV Amsterdam, the Netherlands, [phone],

P.O. Box 2915, 1000 CX, Amsterdam, the Netherlands, [e-mail],www.avantium.com, C of C: 34138918

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