Amyris, Inc. ("Amyris" or the "Company"), a synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-Market technology platform and clean beauty consumer brands, has announced that it is moving forward with an operational and financial restructuring to further advance its ongoing strategic transformation and position the Company for long-term success.

The restructuring is intended to improve the Company's cost structure, capital structure, and liquidity position while streamlining Amyris' business portfolio to focus on its core competencies in R&D and the scale-up, commercialization, and application development of its sustainable ingredients derived through biofermentation. To facilitate the restructuring, Amyris and certain of its domestic subsidiaries commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the "Court"). Its entities outside the U.S. are not included in the proceedings.

In tandem, to advance the Company's restructuring goals and maximize the value of its assets, Amyris is planning to exit its consumer brands and will begin marketing them for sale, with a view to having these brands continue to leverage Amyris' cutting-edge science and technology while under new ownership. As the sale process progresses, Amyris will continue to operate these brands, including through retail partners and the brands' e-commerce platforms.

Amyris has secured a commitment from an entity affiliated with existing lender Foris Ventures for $190 million of debtor-in-possession ("DIP") financing to support continued day-to-day operations as the Company works with its key stakeholders to negotiate a consensual go-forward plan centred on Amyris' core capabilities. Subject to Court approval and the DIP budget, this DIP financing will provide liquidity to help fulfil commitments to the Company's valued employees, customers, partners, and vendors during the process.