00 A 20100106 Biofuel Experience Introduction

Biofuel Experience

2007-2009

Introduction

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Confidentiality Term

No part of this material should be circulated, quoted or reproduced for distribution without prior written approval from tabvlae.

This material was used by tabvlae during an oral presentation; it is not a complete record of the discussion.

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Disclaimer

8 Biofuel Energy was a listed company at Oslo OTC (over the counter) market. The information presented here is of public knowledge.

8 This presentation is not an official presentation of the project. Information and figures may differ slightly due to the time each information was collected.

8 This presentation has not been updated. Some market information may have changed since the last update.

8 This material was organized for the sole purpose of a preliminary discussion about the subject. No data here should be considered as definitive, nor should any of the information be used as a recomendation of investment or any action.

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Biofuel Management Team

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Team presentation

Silvio Taboas

Silvio is a highly skilled professional. A top executive with a sound track record of accomplishments in special situations: growth-strategy implementation, M&A, start-ups, turnarounds and crisis management. He worked in first class companies as a top executive (CEO and CFO) having being exposed to industries as Oil, Cement, Automotive, Food, Agro-energy business and Transport services. Main accomplishments: Behr turnaround and sales growth; Biofuel Energy start-up; Brasil Ferrovias auction; Holcim/Cement Paraiso M&A; Melitta local turnaround. Silvio is a Mechanical Engineer; MBA specialized on Finance; PED at IMD in Lausanne. Also a former member of Sindipeças and GM supplier council, he is a citizen honored due to local social actions. He is fluent in several western languages.

Luis Rodeguero

Luis has developed his career in companies as Banco Itau, Holcim, Monsanto, Integration Consulting, and Biofuel Energy. He has a diversified experience in the areas of Finance, Business Development, Procurement, and Management Consulting. Luis is an Electronic Engineer from the University of São Paulo, with an MBA from the University of Pittsburgh, a graduation in Business Administration at FGV (Fundação Getúlio Vargas), and extensions in Business Diagnosis & Restructuring; International Businesses and Foreign Trade; and Corporate Law. Fluent in Portuguese, English, and Spanish, with a working knowledge of German.

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Team presentation

Paulino Raphael

Paulino is a Mechanical Engineer graduated at the University of São Paulo with an International Executive MBA and specialization in Supply Chain at the Insead. Management positions in companies like Dowell Schlumberger, Procter & Gamble, Diageo, Votorantim and others. Had a key role in some re-structuring and start-ups, specially in Procurement and Supply Chain roles. International experience, leading and taking part in global projects in several industry sectors: consumer goods, mining and metallurgy, energy, paper and services. Recently has held a statutory director position at Biofuel Energy.

Silvério Garbin

Silvério has over 23 years of experience in managing and marketing a diversity of projects, both large-scale and high-complexity, in the engineering, Civil Construction, Mining, Chemical, Power, and Telecommunication sectors working for market leading companies – Bunge, Promon, Turner. Significant results as to profitability, productivity, and quality in the developed projects. He is graduated in Civil Engineering at Escola Politecnica da Universidade de Sao Paulo. Holds a Master Ceritificate in Project Management at The George Washington University and also a International Executive MBA Universidade de Sao Paulo. His last position was Industrial and Enginnering Officer at Umoe Bioenergy, as welL as Substitute CEO.

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Biofuel Energy is an integrated bioethanol company

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8 Sustainable value chain – no conflicts, land control, 95% mechanized agri-operations8 Competitive business model – low cost, energy and land efficient sugar cane ethanol8 Unique production environment in Paranapanema on State of Sao Paulo, Brazil – well

established industry8 Production start-up fall 2008/9 and expansion in 2011/12– reaching 3,6M tons/annum8 ~1700 employees

SALESLANDAGRICULTURAL

OPERATIONSINDUSTRIAL

OPERATIONS

Bioethanol+

power

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History

Construction of Destilaria

Paranapanema

1980 1984 1990 2000 2003 2007

1st. harvest – production capacity of 15 000 liters of ethanol

Deactivated

Acquired by sector company

Acquired by the Albertina Group

Company acquired by

Biofuel Energy

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History

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2003 PROJECT INITIATION Acquisition of a 0.3Mtons per annum crushing capacity distillery by Brazilian ethanol investor (Valencia)

2006 STRATEGIC GROWTH ALLIANCE Brazilian ethanol investor and Norwegian energy investors

LAND POSITIONS SECURED Long term lease contracts in the Paranapanema region

2007 EPC TURNKEY CONTRACT NEW MILL Signed with consortium of leading Brazilian suppliers

EXPANSION CAPITAL RAISED USD 85 million bonds / USD 55 million equity, in June

OTC LISTED In July on the NOTC list in Oslo, Norway

CONSTRUCTION STARTED ON MILLS Works 1 restructuring and Works 2 green field project started

FURTHER LAND POSITION SECURED Land secured with ownership and long-term lease contracts

2008 UMOE MAJOR SHAREHOLDER USD 27 million equity private placement in January

FURTHER LAND POSITIONS SECURED Land secured and agricultural mechanical equipment delivered

EXECUTIVE MANAGEMENT IN PLACE Strengthened project management and control capabilities

CONSTRUCTION IN PROGRESS Phase 1: Works 1 (1.0Mtons) and Works 2 (1.9Mtons)

FURTHER CAPITAL RAISED USD 67 million in equity in May

PRODUCTION START-UP Works 1 in September 2008 and Works 2 in November 2008

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Company structure

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Biofuel Energy ASA(Norwegian) 100%

Destilaria Paranapanema S.A.(Brazilian) Owning Brazilian assets

Christiania Bioenergia Participações S.A.(Brazilian) 100%

ETHANOL POWER

LAND AGRICULTURALINDUSTRIAL

CLT

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Shareholders

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PER 2009-01-29 NUMBER OF SHARES %

UMOE INVEST AS 65.991.895 66,56%

UMOE INDUSTRI AS 18.838.000 19,00%

VALENCIA S.A.R.L 6.242.285 6,30%

CAMILLO ENERGY AS 1.275.000 1,29%

RBC DEXIA INVESTOR SERVICES BANK 1.000.000 1,01%

SAF INVEST AS 800.000 0,81%

MATHIAS HOLDING AS 656.246 0,66%

VERDIPAPIRFONDET DANSKE INVE NOR 568.154 0,57%

AMROTH AS 550.000 0,55%

PECUNIA FORVALTNING AS 355.096 0,36%

CAIANO AS 250.000 0,25%

WARRENWICKLUND NORGE 200.024 0,20%

JACO INVEST AS 165.000 0,17%

SJØINVEST AS 165.000 0,17%

NB AKSJEFOND 128.099 0,13%

FARINVEST AS 127.835 0,13%

MORGAN STANLEY & CO. INC. 125.562 0,13%

JPMORGAN CHASE BANK 120.360 0,12%

AUDLEY A/S 100.000 0,10%

CLIPPER A/S 100.000 0,10%

TOPP 20 97.758.556 98,60%

REST 1.390.781 1,40%

TOTAL OUTSTANDING SHARES 99.149.337

SHAREHOLDERS 86

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Company growth vision

8 Become a major, long term and sustainable producer of bio-ethanol

8 Create an international business operation based on best practice governance principles

8 Become a preferred supplier of bio-ethanol to international oil companies and other buyers

8 By 2013 sustainably control• 1,000M liters/year bioethanol production• 12.0Mtons per annum sugarcane crushing capacity• 150.000 ha land

• 1,000 MW electric power production capacity

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PHASE 1

PHASE 2

PHASE 3

PHASE 4

EXPANSION IN PHASES Growth

2007 2008 2009 2010 2011 2012 2013

Create foundation

Production expansion + Cogeneration

Growth through acquisitions

Organic growth in region

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Regional focus within the Sao Paulo state

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• Operational assets in Paranapanema region– Brazilian head office in city of Ribeirao Preto (to be relocated to Sao

Paulo in Q1 2009)

• Agricultural assets– Securing of total 36.000 ha (89.000 acres) – 31.000 ha pt secured (24.300 leased / 1.400 owned/ 5.500 3rd

party)

• Consolidated industrial capacity:– Crushing capacity 2.9Mtons (3.6Mtons in 2011/12)– Output volume 250.000 m3 hydrous ethanol (295.000 m3 in

2011/12)

• Production Works 1 - Remodeled distillery– Municipality: Narandiba– Crushing capacity: 1.0Mtons– Production start Sep’08 / 100% complete

• Production works 2 - Greenfield mill constructed (EPC)– Municipality : Sandovalina – Crushing capacity : 1.9Mtons (2.6Mtons in 2011/12)– Production start Nov’08 / 100% complete

WORKS 1 - NARANDIBA

WORKS 2 - SANDOVALINA

SAO PAULO

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Sao Paulo

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Sao Paulo – Environmental Restrictions

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Paranapanema

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Land position

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8 Total arable area currently secured: 31.000 ha • To increase to 46.000 ha in 2011

8 Cane planted to meet crushing capacity• 2008 - 1.3Mtons- Phase 1• 2009 - 2.9Mtons- Phase 1• 2011 - 3.6Mtons- Phase 2

8 Current crop area: 13.500 ha8 20% legal forest preservation area excluded (in

compliance)

BIOFUEL ENERGY LAND MARKED IN BLUE

Works 2 Works 1Aprox. 25 km

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Agricultural operations

8 Key strategic part of the value chain• 70% of the company’s ’strategic value’

8 95% mechanized operations• Vs. 30% average in Brazilian agriculture• Vs. 60% average in Sao Paulo• Reduced cane burning

8 Operational exellence emphazise• Agri-technical experienced management• Highly competent workforce• Educational programmes• Minimum salary protection

8 Feedstock flexibility with crop alternatives8 High competency and complex industry

• High level of R&D in agri-industry

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Agricultural equipment

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CLT equipment portfolio

Harvest machines 27

planting machines 6

Loaders 120

Tractor loaders and planting tractors 54

truck cane cages 72

truck horses 24

fire trucks 7

repair trucks 17

accessories 26

auxiliary equipment 21

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Industrial operations

PRODUCTION WORKS 18 Remodeled distillery8 Municipality: Narandiba8 Crushing capacity:

• 1.0Mtons in 2008

8 Started production Sep’088 100% complete

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PRODUCTION CAPACITYTons crushing capacity/annum

700

700

2900

1000

1900

0 1000 2000 3000 4000

Total

Works 2

Works 1

Phase 1 Phase 2

PRODUCTION WORKS 2• Greenfield mill constructed

(EPC)• Municipality : Sandovalina • Crushing capacity

– 1.9Mtons in 2009– 2.6Mtons in 2011/12)

• Started production Nov’08• 100% complete

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Industrial operations Narandiba

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Industrial operations Sandovalina

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Cogeneration (electricity production)

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Current manning

17%

78%

5%

Industrial

Agricultural

Central administration

INDUSTRIALOperators, management, supervisiors, project managers 296

AGRICULTURALRural employees, agricultural management and supervisiors 1346

ADMINISTRATIONAll inclusive 95

Total 1737

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