Gevo : Investor Presentation - January 2021

INVESTOR PRESENTATION - JANUARY 2021

Dr. Patrick Gruber, CEO

FORWARD LOOKING STATEMENTS

Any statements in this presentation about our future expectations, plans, outlook and prospects, and other statements containing the words "believes," "anticipates," "plans," "estimates," "expects," "intends," "may" and similar expressions,

constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to: our Net-Zero 1 project and other projects; the success of our sales and production efforts in support of the commercialization of our products; our growth plans and strategies, including the planned expansion of our facilities; our technologies; the sizes of markets for our products; the benefits and characteristics of our products, including CI score and reductions in greenhouse gas emissions; our ability to obtain and maintain certifications related to our products; our ability to enter into additional contracts to sell our products; the status of our contract discussions and negotiations; memoranda of understanding, discussions and negotiations relating to potential projects; our ability to raise funds to continue operations or fund growth projects; our projected revenues or sales; our ability to perform under current or future contracts; our ability to become profitable; our projections of internal rates of return on investments for our projects; and other factors discussed in the "Risk Factors" of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in other filings that we periodically make with the SEC. In addition, the forward-looking statements included in this investor presentation represent our views as of the date of this investor presentation. Important factors could cause our actual results to differ materially from those indicated or implied by forward-looking statements, and as such we anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this investor presentation

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**Estimated Value of IP by Peak Value IP LLC, August 2020

OVERVIEW OF GEVO, INC. (NASDAQ: GEVO)

WE CAPTURE RENEWABLE ENERGY AND TRANSFORM IT INTO ENERGY-DENSE LIQUIDS

Business Overview

• Headquarters: Englewood, CO
• Founded: 2005
• What we are doing: Capture renewable energy and carbon, then monetize it via fungible liquid transportation fuels
• $400M patent estate**
• In the process of securing off-balance sheet financing for large scale production
• Products: Jet Fuel, Isooctane, Feed, Corn Oil, Isobutanol (IBA)

Facilities Overview

• Net-Zero1 (Lake Preston, SD) - To Be Built, 45MMGPY hydrocarbons and 365,000lbs/y of high protein feed. The hydrocarbons are expected to have a net-zero GHG footprint across the life-cycle
• Jet fuel and gasoline plant (Silsbee, TX)(4) - 100,000/GPY of capacity; operating since 2011, producing jet and isooctane for gasoline. Commercial sized scale up facility (Luverne, MN)(5) - Capacity to produce 1.5 MMGPY IBA; production proven in full scale fermenter system

Luverne, MN Facility

Silsbee, TX Facility

Market Traction		• Corporate Headquarters (Englewood, CO) - Offices and Labs
+$1.5 billion	+$600 million	Customers, Partners, and Agreements
Other Off-
take-or-pay offtake	take-or-pay offtake	Takes(3)
(signed)(1)	(negotiating)(2)
Gasoline	Global
Company A	City of Seattle
Jet Fuel	Global
Company B

Note: The customers and partners on this slide represent current and past customers/partners who may have purchased, used, tested, participated in "Fly Green Day" projects and or distributed our products.

1. The estimate is based on certain assumptions in the contracts, including the value of certain environmental credits and the sales price of the fuel. This estimate represents the revenue over the entire term of the contracts.
2. Represents midpoint of possible outcomes ranging from $300mm to $900mm depending on negotiations.
3. Includes distributors and end customers.

(4) Operated in partnership with South Hampton Resources, Inc.

(5) Production for isobutanol operations are currently shut-down until further notice.

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WE ALL HAVE A PROBLEM, AND IT CAN'T BE IGNORED

GHG's Pollution

Pollution

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