(NASDAQ: AMTX)

Advanced Biofuels

T H E A E M E T I S B I O R E F I N E R Y

August 2017

Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management'scurrent views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differmaterially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may,will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-lookingstatements.

Actual results, performance or events may differ materially from those projected in such statements due to, without limitation: (i) general economicconditions, (ii) ethanol and gasoline prices, (iii) commodity prices, (iv) distillers grain markets, (v) supply and demand factors, (vi) transportation rates forrail/trucks, (vii) interest rate levels, (viii) ethanol imports, (ix) changing levels of competition, (x) changes in laws and regulations, including govt.support/incentives for biofuels, (xi) changes in process technologies, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganizationmeasures and (xiv) general competitive factors on a local, regional, national and/or global basis, (xv) natural gas prices, and (xvi) chemicals and enzymeprices.

The matters discussed herein may also involve risks and uncertainties described from time to time in the company’s annual reports and/or auditors’ financialstatements. The company assumes no obligation to update any forward-looking information contained herein, and assumes no liability for the accuracy ofany of the information presented herein as of a future date.

Non-GAAP Financial Information

We have provided non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directlycomparable GAAP measures is included in the accompanying supplemental data. Adjusted EBITDA is defined as net income/(loss) plus (to the extentdeducted in calculating such net income) interest expense, loss on extinguishment, income tax expense, intangible and other amortization expense,depreciation expense, and share-based compensation expense.

Adjusted EBITDA is not calculated in accordance with GAAP and should not be considered as an alternative to net income/(loss), operating income or anyother performance measures derived in accordance with GAAP or to cash flows from operating, investing or financing activities as an indicator of cash flowsor as a measure of liquidity. Adjusted EBITDA is presented solely as a supplemental disclosure because management believes that it is a useful performancemeasure that is widely used within the industry in which we operate. In addition, management uses Adjusted EBITDA for reviewing financial results and forbudgeting and planning purposes. EBITDA measures are not calculated in the same manner by all companies and, accordingly, may not be an appropriatemeasure for comparison.

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Aemetis is an international renewable fuels and biochemicals company.

Using patented industrial biotechnology, our mission is to convert first generation ethanol and biodiesel plants into advanced biorefineries using waste materials to produce high value products.

A E M E T I S M I S S I O N

P R E S E N T F U T U R E

Traditional Corn Ethanol

and Vegetable Oil Biodiesel

Advanced Biofuels

(Sorghum/Non-food Feedstock)

Non-Food, Low Carbon, Less

Land Use -Fuels/Chemicals

P A S T

G1 G2 G3

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A E M E T I S O V E R V I E W

Founded in 2006 by biofuels industry veteran (co-founder

Pacific Ethanol and EPM)

$147M revenue for 2015

Own/operate 60M gallonethanol plant in California -

Largest biofuels refinery in the state

Own/operate 50M gallonDistilled Biodiesel and Glycerin

refinery in India

Significant India revenue growth without large additional

capital expenditures

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Owner and licensee of granted patents on technology to produce

advanced biofuels and biochemicals

Technologies for Cellulosic Ethanol andRenewable Jet/Diesel

O U R T E A M Eric McAfee - Chairman and CEO• Founder of Aemetis (NASDAQ: AMTX) and co-founder of Pacific Ethanol (NASDAQ: PEIX)• Founding shareholder of oil production company Evolution Petroleum (NYSE: EPM)• Founded seven public companies and funded twenty-five private companies as

principal investor

Harold Sorgenti - Former President/CEO of ARCO Chemical Company (12 years including IPO)

Fran Barton - Former CFO of five high tech companies with revenues above $1B

B O A R D O F D I R E C T O R S

Andy Foster - EVP and President, Aemetis Advanced Fuels• Joined Aemetis in 2006 • Senior executive at three Silicon Valley tech companies• Served in the George H.W. Bush White House (1989-1992) as Associate Director - Office

of Political Affairs and as Deputy Chief of Staff for Illinois Governor Edgar for five years

Todd Waltz - EVP and CFO• Joined Aemetis in 2007• Served in senior financial management roles with Apple, Inc. for 12 years• Ernst & Young CPA

Sanjeev Gupta - EVP and President, Aemetis International• Joined Aemetis in 2007• Previously head of petrochemical trading company with about $250M of annual

revenue and offices on several continents

Satya Chillara- VP, Corporate Development and Investor Relations• 24 years of experience in the Cleantech and Semiconductor industries • 14 year career on Wall Street as a Equity Research Analyst• Managed $300M product line

John Block - Former Secretary of Agriculture from 1981-86 under President Reagan

Dr. Steven Hutcheson - Molecular genetics founder of Zymetis, acquired in 2011 by Aemetis

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Lydia I. Beebe – Senior of Counsel for Wilson Sonsini & Rosati PC, former CGO & Corporate Secretary of Chevron Corporation

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I N D U S T R Y & M A R K E T O V E R V I E W

O I L R E C O V E R Y

Crude Oil Price is recovering

7Source: Macrotrends.Net

THE INCREASING RENEWABLE FUEL STANDARD MANDATE

In order to meet the federal Renewable Fuel Standard, obligated parties are required to blend ethanol and biodiesel in increasing quantities each year

“Conventional Biofuels” must reduce greenhouse gas emissions by 20% relative to gasoline or diesel and “Advanced Biofuels” must reduce greenhouse gas emissions by 50%

15 billion gallons per year (BGY) of ethanol mandated in 2017, with current capacity of 16 BGY

24 month termination of excess RIN’s, higher ethanol blends (E15 and E85) and export markets to drive supply/demand into balance in 2017 and beyond

U.S. Renewable Fuel Standard

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0.0

10.0

20.0

30.0

40.0

2009 2011 2013 2015 2017 2019 2021Billi

ons o

f Gal

lons

Biomass-based Diesel 0.5 0.7 0.8 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Non-cellulosic Advanced 0.1 0.2 0.3 0.5 0.8 1.0 1.5 2.0 25 3.0 3.5 3.5 3.5 4.0

Cellulosic Advanced 0.0 0.1 0.3 0.5 1.0 1.8 3.0 4.3 5.5 7.0 8.5 10.5 13.5 16.0

Conventional Biofuels 19.5 12.0 12.6 13.2 13.8 14.4 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0

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C A L I F O R N I A L O W C A R B O NF U E L S T A N D A R DB i o f u e l s L e a d C a r b o n R e d u c t i o n i n C a l i f o r n i a

Ethanol

Renewable Diesel

Biodiesel

5%

4%3%2%1%0%

Fossil CNG Fossil LNG

Ethanol Electricity

BIO-LNGBiodiesel

BIO-CNGRenewable Diesel

Source of credits through Q1 2014: California Air Resource Board. “Low Carbon Fuel Standard Re-Adoption: Fuel Availability.” Sep, 25th 2014.

California LCFS Carbon Credit Generation by Fuel Type, 2011-2015

51%

17%

17%

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Aemetis Ethanol and Biodiesel plants approved for LCFS pathways in

January 2016

India biodiesel plant was approved for low carbon fuel standard (LCFS) pathway in California for Used

Cooking Oil and Tallow feedstock, and receives $1/gallon biodiesel blenders federal Tax Credit and

$1.20 RFS D5 RINAemetis presently receives LCFS premium of ~$0.10 per gallon for ethanol sold in the CA market. Corn

and milo ethanol carbon intensity (CI) score are less than 70 CI

When Aemetis produces cellulosic ethanol, the selling price is about $4.50/gallon

• LCFS premium is $0.70-$0.80 per gallon in the CA market.

• Also receive $1.01/gallon tax credit for cellulosic ethanol and D3 RIN worth $1.38 per gallon

CI score for cellulosic ethanol is in the range of 20-30

C A L I F O R N I A L O W C A R B O N F U E L S T A N D A R D

C R E A T E D L A R G E M A R K E T

28.2%

9.5%

0.5% 3.2%

13.0%

4.1% 5.0%

6.4% 1.5%

8.9%

6.4%

Tractors, Agri Implements and Agri Pumpset

Industry- Genset

Industry- Other Purpose

Others (Genset for non-industry)

Mobile Tower

Cars & Uvs- Private

Cars & UVs- Commercial

3 Wheelers- Passenger/ Goods

HCV/LCV

Buses

Aviation/Shipping

Railways

N O N T R A N S P O R T

T R A N S P O R T

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INDIA BIODIESEL MARKET SIZE

India diesel market size ~25B gallons 5x bigger than gasoline market

$10B diesel subsidy eliminated in October 2014

70% Diesel consumption transport and 30% non-transport

13 of the 20 most polluted cities in the world

Biodiesel is a lower-cost, cleaner alternative fuel with 80% less emissions

by Market Segment

10/2014

In October 2014, the India government eliminated about $10 billion of annual subsidies for diesel and other fuels, increasing the price of diesel and biodiesel in India to world market prices

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In January 2015, the India government approved sales by biodiesel producers directly to end users and retail customers without using Government fuel blendersPrivately owned refiners are entering the diesel markets

Biodiesel interest is increasing rapidly among bus companies, trucking companies and other end users

08/2015

I N D I A B I O D I E S E L M A R K E T E X P A N S I O N

50 MGY biodiesel and refined glycerin plant in India can produce about $150M revenues at full capacity

A f t e r E n d i n g L a r g e D i e s e l S u b s i d i e s i n L a t e 2 0 1 4

B U S I N E S S O V E R V I E W

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3 Y E A R R O A D M A P

Aemetis is migrating to higher margin, rapidly growing cellulosic ethanol, distilled biodiesel and renewable jet/diesel fuel markets

90-95% 40-50%

0% 25-35%

5-10% 25-35%

Improve margins by deploying renewable diesel

60 mgy

25-30 mgy

60-70mgy

F U T U R EC U R R E N T F U T U R E V O L U M E T A R G E T

E T H A N O L

C E L L U L O S I C E T H A N O L

R E N E W A B L E J E T , D I E S E L , & B I O D I E S E L

F o r P r o d u c t R e v e n u e s

E B I T D A T A R G E T

10-15%

35-45%

10+%

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G R O W T H S T R A T E G YT h r e e M a j o r R e n e w a b l e F u e l M a r k e t s

Ethanol Plants

• Distilled Biodiesel• Refined Glycerin

• Renewable Diesel• Renewable Jet Fuel

• Expand biodiesel and renewable diesel production in India

Jet/Diesel Plants

• Steam Turbine (CHP)• Advanced Clean-In-Place• Liquid CO2/Dry Ice• Cellulosic Ethanol

EdeniqLanzatech

• Distillers Oil -> Renewable Diesel Renewable Jet Fuel

• Biobased ChemicalsIsoprene

• Distillers Grain -> Plastics

Biodiesel Plants

• ChevronLummus/ARA global technology license for 100% replacement, renewable jet/diesel fuel

• Airlines seeking renewable aviation fuel to reduce GHG emissions

• US Navy plans to grow from 40 mgy in 2015 to 336 mgy in 2020

• Renewable diesel sold into 50 billion gallon per year US diesel market

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C A L I F O R N I A E T H A N O L P L A N T

I N D I A B I O D I E S E L A N D G L Y C E R I N P L A N T

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N E W M A R K E T S O V E R V I E W

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Aemetis operates an R&D lab in Maryland and holds many granted biofuels technology patents

I N T E L L E C T U A L P R O P E R T Y

2.5% Cellulosic Ethanol from the

existing corn ethanol plant feedstock

Scale up to 50% Cellulosic Ethanol with low CI, LCFS

and advanced ethanol tax credit

Process converts renewable oils to jet fuel

Only known 100% replacement renewable

jet fuel

Edeniq LanzatechChevron

Lummus/ARA

Renewable Jet & Diesel Fuel

Awarded patents on enzyme and microbe technology

Exclusive  license  to  patented  microbes  to  produce  ethanol  from  agricultural  wastes

PhD  scientists  improving  yields  of  fuels  and  chemicals

P A T E N T S

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3 KEY BENEFITS EDENIQ PATHWAY PLATFORM

MORE ETHANOL FROM CORN

• Starch Accessibility• Corn Fiber to Cellulosic

MORE CORN OIL• 15-60% More Corn Oil

Recovered• Higher DDG Quality

HIGHER YIELD OR MORE

THROUGHPUT

• Flexibility if can Process More Sugar

• Optimization of Costs

E D E N I Q B A C K G R O U N D

Founded in 2008Edeniq received $100M in funding to develop patented milling and enzyme technology, increasing starch ethanol production by up to 4% and cellulosic ethanol production of 2.5% from existing corn kernel fiber

+ $3M

More corn starch ethanol

+ $7MCellulosic

ethanol from corn

fiber

= $10MAnnual

increased revenues

E C O N O M I C B E N E F I T S F R O M E D E N I Q P R O C E S S

6 0 M G Y E T H A N O L P L A N T R E V E N U E S I N C R E A S E

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E D E N I Q P R O D U C T P L A T F O R MUp to 7% ethanol production increase at first generation plants

Integrated platform of feedstock “shearing” and cellulose enzymesSubstantially lower capex relative to competitorsEPA-approved cellulosic ethanol production up to 2.5% from corn fiberStarch ethanol production increase up to 4% from starch

Cellunator equiptment“shears” starch and corn kernel fiber

+

CELLUNATOR

M I L L I N G M I X T A N K M I L L E D P A R T I C L E S S H E A R

Starch and corn kernel fiber

F E R M E N T A T I O N E T H A N O L

Large and small particles

U N I F O R M S I Z E S L I Q U E F A C T I O N

Integrated cellulose and traditional

ethanol production

Enzymes break down corn kernel fiber into sugars, boosting ethanol production yield

A

A

B

B

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F E E D S T O C K G A S I F I C A T I O N L A N Z A T E C H E T H A N O L P L A N T I N T E G R A T I O N

BIOMASS Orchard,

Vineyard and Forest waste wood, other

wastes

Produces CO, hydrogen and

CO2 gases

Patented microbe produces cellulosic ethanol

Distillation, denaturing, storage and loadout

L A N Z A T E C H T E C H N O L O G Y

Lanzatech, founded in 2005, has raised more than $200M

Patents pendingSix pilot plants worldwide

Commercial plants being built in Europe and Asia at steel mills

250

2

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A E M E T I S J E T / D I E S E LCH Jet/Diesel Technology Benefits

ARA’s CH technology uses water as catalyst to convert vegetable and animal oils into bio-intermediate similar to crude oil

Same hydrocarbon types as petroleum

Chevron Lummus Global’s ISOCONVERSIONTM

hydrotreating process saturates residual olefins and removes residual oxygen

Aromatics and cycloparaffins are preserved; Produces high yields of jet and diesel fuelsHydrogen consumption & GHG generation are much less than other processes

C A T A L Y T I C H Y D R O T H E R M O L Y S I S H Y D R O P R O C E S S I N G F R A C T I O N A T I O N

Triglyceride Oils + Water

Hydrothermal Cracking and Cyclization

Hydrogen

Olifin Saturation & Deoxygenation

ReadiJet

ReadiDiesel

Naphtha

Produces 100% replacement fuels: Jet fuel, diesel and naphtha23

F I N A N C I A L O V E R V I E W

24

25

25

($ in thousands)

Excludes debt extinguishment costs, intangibles amortization and share-based compensation

A E M E T I S F I N A N C I A L P E R F O R M A N C E

2011 2012 2013 2014 2015

Income StatementRevenues

Cost of Goods SoldGross Profit/ (Loss)

$141,858137,216

$4,642

$189,048197,975($8,927)

$177,514159,220$18,294

$207,683170,539$37,144

$146,649142,450

$4,199

ExpensesSG&AR&D

Operating Income/ (Loss)

$8,571577

($4,505)

$11,613620

($21,161)

$15,275539

$2,480

$12,595459

$24,090

$12,361447

($8,609)

Net Income/ (Loss)Adjusted EBITDA

($18,296)($3,512)

($4,282)($17,244)

($24,427)$10,203

($7,133)$30,006

($27,138)($3,082)

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E B - 5 S U M M A R Y

Phase I: $36 million raised

Phase II: $50 million commenced in September 2016

Congress created the EB-5 program in 1990 to benefit the U.S. economy by attracting investments from qualified foreign investors through the US Customs & Immigration process (USCIS)

Aemetis’ EB-5 Project company is compliant with EB-5 program job creation requirements

$35M

Received into escrow for USCIS approval

$34M

Released to Aemetis from

escrow

$1M

Remaining in escrow awaiting release to

Aemetis upon USCIS approval

Aemetis signed investors for $36M of EB-5 sub-debt financing at 3% interest rate

4-­‐5  year  notes  at  3%  interest  with  no  principal  payments  until  maturity

EB-­‐5  Phase  I  investors  may  convert  into  common  shares  of  Aemetis  at  $30.00  per  share  after  36  months

Benefits of EB-5 Financing to Aemetis

U.S.  citizenship  granted  for  subscription  of  $559,000  ($500,000  to  Aemetis  and  $59,000  admin  fee)

FINANCING PLAN TO CUT INTEREST EXPENSE BY 80% USING EB-5 FUNDING

Aemetis’ financing plan is to repay its high cost senior bridge loan with low cost EB-5 funding and funds from operations

EB-5 Phase I Status- $36 million received or committed into escrow for

USCIS approval- $34 million released to Aemetis from escrow - $1 million remaining in escrow awaiting release to

Aemetis upon USCIS approvalEB-5 Phase II Status

- Launched $50 million in September 2016

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EPS increase of about $0.60 based on:

Interest rate reduction from 14% to 3% on $68.5 million senior bridge loan which results in $12 million per year savings About 20 million shares outstanding

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L O N G T E R M I N D U S T R Y M O D E L (L T I M )

First generation ethanol in the U.S. is a maturing market generating cash flow to fund debt reduction and company growth

Aemetis is launching higher-margin products in fast-growing advanced biofuels markets in the US and Asia

Results

LTIM 2014 2015

Revenue ($ in millions) 100% $208 $147

Gross Margin 20-25% 18% 3%

Operating Income 15-20% 12% 0%

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Strong Long-term Demand for Biofuels

Plants Strategically Located to Serve Large Markets

Substantial Upside from Next Generation Technology

Experienced Management Team

I N V E S T M E N T S U M M A R Y

www.aemetis.com