CJ BIO and NatureWorks Working Towards a Master Collaboration Agreement to Commercialize Novel Biopolymer Solutions

Companies announce signed letter of intent to collaborate on creating advanced products based on industry-leading Ingeo™ PLA and PHACT® PHA technologies to meet growing demand for sustainable materials across wide array of markets

WOBURN,Mass. and PLYMOUTH,Minn.,May 25,2022 --CJ BIO,a division of South Korea-based CJ CheilJedang and leading producer of polyhydroxyalkanoate (PHA),and NatureWorks,an advanced materials company that is the world's leading producer of polylactic acid (PLA),have signed a letter of intent (LOI) establishing a strategic alignment between the two organizations and have announced that the two companies are working toward a Master Collaboration Agreement (MCA). The companies will work together to develop sustainable materials solutions based on CJ BIO's PHACT® Marine Biodegradable Polymers and NatureWorks' Ingeo™ biomaterials technology. The goal of the agreement is to develop high-performance biopolymers that will replace fossil fuel-based plastics in applications ranging from compostable food packaging and food serviceware to personal care,and beyond.

NatureWorks is a pioneer in the development of bio-based materials that reduce carbon impact and enable new end-of-use options with its Ingeo technology. As a company,it has developed many of the leading high-volume applications for PLA. In recent years,PLA has experienced significant growth as a bio-based material in a broad range of finished products. Due to its unique functionality,it has been used to replace petrochemical-based plastics,with 100% bio-based content,and enable end-of-use recovery options,including compostability and chemical or coated paper recycling. Both companies realize the potential to further enhance performance and end-of-use solutions for biopolymers and increase the level of adoption across many new applications. By combining their expertise and technology platforms,NatureWorks and CJ aim to deliver next-generation solutions together. Initial development and collaboration are showing very promising results when using CJ BIO's unique amorphous PHA in combination with Ingeo biopolymer.

CJ BIOis the world's leading supplier of fermentation-based bioproducts for animal nutrition,human nutrition,and biomaterials at its thirteen manufacturing facilities worldwide. The company recently announced commercial-scale production of PHA following the inauguration of a new production facility in Pasuruan,Indonesia. CJ BIO is today the only company in the world producing amorphous PHA (aPHA),including the first product under its new PHACT brand,named PHACT A1000P. Amorphous PHA is a softer,more rubbery version of PHA that offers fundamentally different performance characteristics than crystalline or semi-crystalline forms of PHA. It is certified biodegradable under industrial compost,soil (ambient),and marine environments. Modifying PLA with amorphous PHA leads to improvements in mechanical properties,such as toughness,and ductility,while maintaining clarity. It also allows adjustment in the biodegradability of PLA and can potentially lead to a home compostable product.

"Plastics are an essential material that improves people's lives,but their fossil sourcing and after-use impact present a major climate challenge that must be addressed," says Seung Jin Lee,Head of the Biomaterials Business at CJ BIO. "NatureWorks and its Ingeo technology have already helped by bringing to market new material functionality and after-use options. They have extensive product and applications development capability,supporting,for example flexible and rigid packaging that we believe can benefit from our PHACT amorphous PHA technology. I am excited for the opportunity to create new solutions in tandem with NatureWorks that will have a real impact on the challenge plastics pose today,and that will help improve the environment for future generations."

According to NatureWorks' CEO Rich Altice: "The demand for sustainable products continues to grow around the world. For more than 30 years,NatureWorks has participated in the circular economy,developing advanced biomaterials that contribute to a more sustainable future. As we look toward the future,we want to amplify the impact of our Ingeo technology with promising,new bio-based solutions,and we feel that with its PHACT aPHA technology,CJ BIO is an ideal partner to achieve our goal."

NatureWorks and CJ BIO will collect feedback from existing and potential customers across a range of applications and markets including packaging,food serviceware,and organics recycling management to understand the growing need for functional product requirements that also align with sustainability goals. These collaborations will inform the companies' product and technology development roadmap. The two companies say that the LOI is the start of what is expected to be a long-term relationship between NatureWorks and CJ BIO and are aiming to sign a master collaboration agreement in the near future.

For more information,visit: https://www.cjbio.net/en/products/cjPha.do and www.natureworksllc.com.

About CJ BIO

CJ BIO is a division of CJ CheilJedang,a core subsidiary in charge of the food and bioengineering business unit of South Korea-based CJ Group. CJ Group has developed its business portfolio into four core sectors: Food & Food Service,Bio & Pharma,Entertainment & Media,and Retail & Logistics.

CJ BIOis the world's leading supplier of fermentation-based bio-products for animal nutrition,and biomaterials at its thirteen manufacturing facilities worldwide. As a socially responsible company,CJ BIO strives toward practicing carbon-neutral manufacturing operations by utilizing renewable raw materials and developing value-added co-products to minimize environmental waste.

About NatureWorks

NatureWorks is an advanced materials company offering a broad portfolio of renewably sourced polymers and chemicals. With performance and economics that compete with oil-based materials,naturally advanced Ingeo™ biomaterials are valued for their unique functional properties and used in products from coffee capsules and appliances to tea bags and 3D printing filament. NatureWorks is jointly owned by Thailand's largest ASEAN leading integrated petrochemical and refining company,PTT Global Chemical,and Cargill,which provides food,agriculture,financial and industrial products and services to the world. Learn more atnatureworksllc.comand follow NatureWorks onTwitterandLinkedIn.

Ingeo and the Ingeo logo are trademarks or registered trademarks of NatureWorks LLC in the USA and other countries.

Media Contact

Resource Advantage

Dan Green

dgreen@resourceadvantage.com

NatureWorks

Andrea Ziadi

Email: andrea.ziadi@natureworkspla.com

CJ Bio

Heidi Lebel

Heidi.lebel@cj.net

Rich Altice,President & CEO of NatureWorks (left),and Seung Jin Lee,Head of the Biomaterials Business at CJ BIO,gathered to advance the growing collaboration between the two companies focused on developing new products based on their Ingeo™ PLA and PHACT® PHA technologies.”

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