Danimer Scientific and PepsiCo to Collaborate on Biodegradable Resins

BAINBRIDGE, GA & PURCHASE, N.Y.–(BUSINESS WIRE)– Biotechnology leader Danimer Scientific and global food and beverage
company PepsiCo, Inc. (PEP) have announced an agreement that includes
development of Danimer Scientifics’ biodegradable film resins to meet
the sustainable flexible packaging requirements of PepsiCo’s global food
and beverage business.

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The agreement builds on a long-standing relationship that has included
the development of bio-based compostable packaging for PepsiCo’s snack
brands and will facilitate the expansion of Danimer Scientifics’ Nodax^TM
PHA plant.

In October 2016 PepsiCo announced its 2025 sustainability agenda, which
includes the intent to reduce greenhouse gas emissions across its value
chain and design 100 percent of its packaging to be recoverable or
recyclable. This goal is part of PepsiCo’s decade-long Performance with
Purpose initiative to deliver top-tier financial performance over the
long term by integrating sustainability into its business strategy. This
collaboration is also expected to help expedite PepsiCo’s transition to
packaging that is completely biodegradable for their snack food
portfolio by incorporating Nodax^TM PHA bioplastic into
certain of its next-generation snacks packaging.

“From the start PepsiCo has taken a holistic approach to our
sustainability work,” said PepsiCo Vice Chairman and Chief Scientific
Officer Dr. Mehmood Khan. “Our first objective is achieving long-term
profitability and that requires sustainable solutions to grow our
business while minimizing our environmental impact. Our plan to scale
Danimer Scientifics’ technology is a step toward achieving both our
greenhouse gas emission reduction and our recoverable and recyclable
packaging goals.”

“Danimer Scientifics’ partnership with PepsiCo marks a significant
milestone as we continue to expand our biopolymer technology to provide
innovative bioplastic solutions to a wider range of applications and
products,” said Danimer Scientific’s CEO, Stephen Croskrey. “We’ve been
developing a relationship with PepsiCo for the last seven years, and as
one of the largest food and beverage companies in the world, their
commitment to limiting the environmental impacts of their products can
actuate real change in the way of sustainability.”

Nodax^TM PHA is a naturally occurring biopolymer produced by
microbial bacteria as they ferment organically sourced oils. Produced
using renewable biomass, Nodax^TM PHA is both sustainably
sourced and proven to be capable of replacing many short-term use
petroleum-based plastics, for both performance and price. Traditional
plastics are manufactured from chemicals obtained from mined crude oil
or natural gas sources.

Danimer Scientifics’ Nodax^TM PHA received the first ever OK
Marine Biodegradable certification from Vinçotte International,
validating that the biopolymer safely biodegrades in salt water
environments, leaving no toxins behind. Nodax^TM PHA possesses
seven Vinçotte certifications and statements of industrial and home
compostability, biodegradability in anaerobic, soil, fresh water, and
marine environments, and is bio-based. All of Danimer Scientifics’
biopolymers, including Nodax^TM PHA, are FDA approved for food
contact.

About Danimer Scientific

Danimer Scientific is a recognized world leader in the development of
polyhydroxyalkanoates (PHA) and a specialist in the customization of
biopolymer formulations that combine PHA, PLA and other biopolymers
through a proprietary reactive extrusion process. Supported by a
world-class group of dedicated, highly skilled team members, Danimer
Scientific offers a comprehensive selection of biopolymers that support
the company’s core values of utilizing sustainable and renewable
bioplastics to improve people’s lives at work and home. Danimer
Scientific and its subsidiaries currently own more than 125 patents
across nearly 20 countries. Danimer Scientific is headquartered
in Bainbridge, Ga. For more information, visit DanimerScientific.com.

About PepsiCo

PepsiCo products are enjoyed by consumers one billion times a day in
more than 200 countries and territories around the world. PepsiCo
generated approximately $63 billion in net revenue in 2016, driven by a
complementary food and beverage portfolio that includes Frito-Lay,
Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio
includes a wide range of enjoyable foods and beverages, including 22
brands that generate more than $1 billion each in estimated annual
retail sales.

At the heart of PepsiCo is Performance with Purpose – our fundamental
belief that the success of our company is inextricably linked to the
sustainability of the world around us. We believe that continuously
improving the products we sell, operating responsibly to protect our
planet and empowering people around the world is what enables PepsiCo to
run a successful global company that creates long-term value for society
and our shareholders. For more information, visit www.pepsico.com.

PepsiCo Cautionary Statement

Statements in this communication that are “forward-looking
statements” are based on currently available information, operating
plans and projections about future events and trends. Terminology such
as “aim,” “anticipate,” “believe,” “drive,” “estimate,” “expect,”
“expressed confidence,” “forecast,” “future,” “goal,” “guidance,”
“intend,” “may,” “objective,” “outlook,” “plan,” “position,”
“potential,” “project,” “seek,” “should,” “strategy,” “target,” “will”
or similar statements or variations of such terms are intended to
identify forward-looking statements, although not all forward looking
statements contain such terms. Forward-looking statements inherently
involve risks and uncertainties that could cause actual results to
differ materially from those predicted in such forward looking
statements. Such risks and uncertainties include, but are not limited
to: changes in demand for PepsiCo’s products, as a result of changes in
consumer preferences or otherwise; changes in the legal and regulatory
environment; imposition of new or increased taxes aimed at PepsiCo’s
products; imposition of labeling or warning requirements on PepsiCo’s
products; changes in laws related to packaging and disposal of PepsiCo’s
products; PepsiCo’s ability to compete effectively; and unstable
political conditions, civil unrest or other developments and risks in
the markets where PepsiCo’s products are made, manufactured, distributed
or sold.

For additional information on these and other factors that could
cause PepsiCo’s actual results to materially differ from those set forth
herein, please see PepsiCo’s filings with the Securities and Exchange
Commission, including its most recent annual report on Form 10-K and
subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to
place undue reliance on any such forward-looking statements, which speak
only as of the date they are made. PepsiCo undertakes no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.

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