Global Bioenergies: Financial Results as of December 31st, 2012

  Global Bioenergies:Financial Results as of December 31st, 2012

                            Strong revenue growth
                       Controlled increase of expenses
               Cash provides leeway in operations going forward

Business Wire

EVRY, France -- April 24, 2013

Regulatory News:

Global Bioenergies (NYSE Alternext Paris: ALGBE), the industrial biology
company that develops sustainable routes to light olefins, publishes audited
annual results for the financial year ending December 31^st, 2012. Results
were approved by the Board of Directors on April 24^th, 2013.

  *Annual results, December 31^st, 2012

                                                    from         from
                       from 01/07/12                01/01/12     01/07/11
In €K                 until 31/12/12  Variation  until       until
                       (6 months)                   30/06/12     30/06/12
                                                    (6 months)   (12 months)
                                                    ^ 1
Revenues              1,794           x10        184         284
Operating expenses    2,991           + 26%      2,377       4,233
Operating             -1,197                    -2,194      -3,950
Net profit/loss       -250                      -2,169      -3,505
In €K                 As of December                       As of June
                       31^st 2012                                30^th 2012
Shareholder’s Equity  6,472                                3,952
Cash and marketable   6,291                                4,093
Total assets and      9,328                                5,799

  *Financial results and financial situation

A change in the financial year closing date, from June 30^th to December
31^st, has been decided at the General Assembly held on December 6^th, 2012.
Therefore, the financial period ending December 31^st, 2012 only covers 6
months of activity.

The 1.8 million euros in revenue are therefore to be compared to the 251,000
euros accounted for during the 2011-12 fiscal year (12 months duration). The
revenue is comprised of a 1.5 million euro success fee and a 0.3 million euro
payment, linked to the first and second phases of the Synthos partnership on
the butadiene program, respectively. GLOBAL BIOENERGIES operating revenues
have been multiplied by a factor of 10 over one semester and exceed 1 million
euros for the first time.

Operating expenses amount to 3 million euros, representing a 26% increase from
the previous semester. This increase reflects the intensification of R&D
efforts and the beginning of chemical engineering studies that precede the
construction of the industrial pilot.

R&D tax credits (“Crédit d’Impôt Recherche”, or CIR) amount to 0.9 million
euros and correspond to the 2012 calendar year. These were therefore entirely
accounted for in the fiscal year ending December 31^st, 2012.

The increase in R&D expenses was compensated by the large increase in revenues
and allows GLOBAL BIOENERGIES to limit net losses to 250,485 euros for the 6
month period ending December 31^st, 2012. This loss must be compared to the
2.2 million euro net loss registered over the previous semester and the 3.5
million euro net loss for the 12 months period ending June 30^th, 2012.

Over this last fiscal year, GLOBAL BIOENERGIES has continued to strengthen its
shareholder’s equity which now amounts to 6.5 million euros as of December
31^st, 2012. The Company has carried out one capital increase through a public
offering which ended July 4^th, 2012. As of December 31^st, 2012, the Company
has not contracted any debt financing. Net cash position (excluding refundable
advances obtained from OSEO (€0.8m)) reached 5.4 million euros as of December
31^st, 2012 and 4.8 million euros as of March 31^st, 2013^2. Available gross
cash position therefore reached 6.2 million euros as of December 31^st, 2012
and 5.6 million euros as of March 31^st, 2013.

Liliane Bronstein, Chief Financial Officer of GLOBAL BIOENERGIES declares:
“Revenues obtained over the period ending December 31^st, 2012 were
significant and covered 60% of the operating expenses. We do not expect this
situation to be recurrent at this stage since the company will continue
intensifying its R&D efforts. In this context I would like to remind you that
profitability is not a short term objective for the Company”.

  *Key facts and recent events

A 3 million euro capital increase by public offering

GLOBAL BIOENERGIES has called upon the stock market through a public offering
that ended July 4^th, 2012. 3 million euros were raised and the operation was
achieved without discount based on a 19.80 euro share price.

Receiving the EuropaBio prize

On September 19^th, 2012, GLOBAL BIOENERGIES was awarded “the most innovative
European biotech SME” by EuropaBio, an organization representing more than
1,800 biotech companies in Europe.

Opening the way to propylene

GLOBAL BIOENERGIES has demonstrated a novel metabolic pathway that enables the
direct conversion of renewable resources to propylene -- one of the main
building blocks of the petrochemical industry. Propylene represents an
existing market of $93 billion^3.

Success fee received on Butadiene program in December 2012

GLOBAL BIOENERGIES has opened the way to bio-sourced butadiene and hit the
first milestone in its partnership with SYNTHOS. Achieving this milestone
triggered the payment of a 1.5 million euro success fee; it also corresponded
to the successful termination of the first phase of the butadiene program.

Development of the Butadiene program and additional collaboration payments

As part of the SYNTHOS agreement on butadiene, GLOBAL BIOENERGIES anticipates
the payment of further development fees from its partner. In this context an
initial 1.17 million euro payment was received in February 2013.

Marc Delcourt, CEO of GLOBAL BIOENERGIES concludes: “We continue the
development of the isobutene process at lab scale and very concretely prepare
the next phase dedicated to the installation of an industrial pilot and the
production of ton scale isobutene samples. Today, we confirm the original
schedule which sets the beginning of this phase for July 1^st, 2013.”


Global Bioenergies is one of the few companies worldwide, and the only one in
Europe, that is developing a process to convert renewable resources into
hydrocarbons through fermentation. The Company initially focused its efforts
on the production of isobutene, one of the most important petrochemical
building blocks that can be converted into fuels, plastics, organic glass and
elastomers. Global Bioenergies continues to improve the yield of its process
and prepares the phase dedicated to industrial pilot testing. The company
recently replicated this success to propylene and butadiene and is also
looking to continue with other members of the gaseous olefins family, key
molecules at the heart of petrochemical industry. Global Bioenergies is listed
on NYSE Alternext Paris (FR0011052257 – ALGBE).

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^1 Non audited pro-forma accounts.

^2 Data as of March 31^st, 2013 is non-audited.

^3 Nexant and Platts


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