Neste Oil has grown its renewable business from 0 to 273 million euros in earnings and 2.5 billion euros in revenue from 2008-2013 through its NExBTL renewable diesel. NExBTL is produced through hydroprocessing of waste and residual renewable feedstocks into a hydrocarbon diesel that is fully compatible with fossil diesel. Neste Oil aims to become the world's largest renewable diesel producer through further investments and expanding its existing capacity to 2.3 million tons per year, while driving down production costs. The success of NExBTL is due to innovation, risk taking, and focus on the right competencies.

1. NExBTL - resurssiviisas diesel
Teolliset Symbioosit Foorumi, 26.3.2014
Lars Peter Lindfors, Teknologiajohtaja, Neste Oil

2. Case NExBTL: Why, what and how
Making Neste Oil the world’s leading
supplier of renewable diesel
Since 2008, the renewable business (Cleantech) has grown
from 0 in earnings and revenue to
273 m€ in earnings and 2,5 bn € in revenue in 2013.
The concept of NExBTL is based on industrial symbiosis
and recovering by-products or waste of other companies

3. 3
To combat
climate change and
reduce emissions
To reduce
society’s dependency
on crude oil and
imports
To safeguard
energy security
The drivers for biofuels

4. 12 13
20
5 5
8
5 5
6
4 4
5
0
10
20
30
40
50
2014 2015 2020
Asia-Pacific
Latin America
North America
Europe
+8% p.a
Bio/renewable diesel demand,
million tons
26 27
39
4
Source: Neste Oil estimates
The growth estimate

5. 5
6%
3.5%
>5%
5.8%
4.8%
6.3%
7.8%
4.1% 5%
• Biofuel target of 10% for
2020 firmly in place
• Differences between
countries
• With growing mandates,
higher quality biofuels
are needed
EU biofuel mandates

6. 6
To be the
preferred
partner for
cleaner traffic
fuel solutions
Our vision

7. • Offering reliability and satisfaction for end consumers
• Providing a simple solution for fuel producers and
distributors
• Experiencing cooperation pull from automotive industry
• Achieving societal acceptance
7
Key elements of the value proposition

8. Being innovative drives our leadership position
8
Creating
unique
technological
innovations
Expanding
raw material
base
Several new
products
since 2008
1,000
professionals
in R&D and
engineering
Co-operation
with large
number of
leading
universities,
institutes and
companies

9. City-gasoline:
lead-free, with
MTBE as an
important
component
1980
Lead-free Futura
95E, replacing
92-octane
gasoline
Cleaner products along the way
Futura Citydiesel:
end of sales for the
low-aromatic and
nearly sulfur-free
gasoline
1990
Sulfur-free
gasolines and
diesel fuels
2000
NExBTL
renewable
aviation fuel
2010
Neste Alfa
lubricants
Futura brand:
gasoline that keeps
engines clean
City Futura, with an
oxygen-containing
MTBE component
synthetic PAO
VHVI
base oils
New Futura:
less sulfur than
ever before
New Futura
gasoline market
launch
Neste Green
diesel
NExBTL diesel
from renewable
materials
Neste Green 100
diesel
Neste Pro
Diesel
9

10. 1994
2001
1996
2002First project to
develop the use of
biofeedstocks in
refining
First patent
application
No basis as yet
for commercial
use
2003
2005
2007
R&D relaunched
following start of
work on the EU’s
biofuel directive
Development of
the technology
kicked off by
Neste Oil’s R&D
and Neste Jacobs
Process modeling
completed
Basic design of a
NExBTL unit
commenced
First investment
decision to build a
NExBTL plant
First plant
commissioned at
Porvoo
Second plant
under construction
Decision to build a
800,000 t/a plant
in Singapore
Decision to build a
800,000 t/a plant
in Rotterdam
2008
2009
Second plant
commissioned
at Porvoo
Innovation:The 1st phase of the NExBTL revolution

11. NExBTL is fully compatible with fossil diesel
Biodiesel
(FAME / RME)
Fossil diesel NExBTL (HVO) Fischer-Tropsch
Feedstock
Vegetable oils &
animal fats (mainly
rapeseed oil)
Mineral Oil
Flexible mix of raw
materials
(vegetable oils
& waste fats)
Biomass
Technology Esterification Refining Hydrogenation
Gasification &
Fischer-Tropsch
End product
Ester-based,
conventional bio-
diesel
Hydrocarbon
(gasoline, jet fuel,
diesel)
Bio-based
hydrocarbon
(renewable gasoline,
jet fuel, diesel)
Bio-based
hydrocarbon
(renewable gasoline,
jet fuel, diesel)
Chemical
composition
O
II
H3C-O-C-R
CnH2n+2
+ aromatics
CnH2n
CnHn
CnH2n+2 CnH2n+2
11
FAME = Fatty Acid Methyl Ester RME = Rapeseed Methyl Ester HVO = Hydrotreated Vegetable Oil

12. NExBTL (HVO); drop-in fuels with superior quality
NExBTL (HVO)
Hydrocarbon
• No blending restrictions
• All emissions reduced
• No "use by" -date
• Energy content 44 MJ/kg
• Compatible with existing
vehicles and distribution
FAME biodiesel
Fatty acid methyl ester
• Maximum blend of 7 %
(B7)
• Energy content 37-38
MJ/kg
• Long-term storage
problematic
12

13. 13
Becoming the world’s largest renewable diesel
producer, with 2 million t/a of NExBTL renewable
fuel capacity has required;
• ~ 1,5 billion € in investments
• entering into a regulatory driven business
• prioritization and focusing
Risk taking –thinking big!

14. 0
200 000
400 000
600 000
800 000
1 000 000
1 200 000
2007 2008 2009 2010 2011 2012 2013
kt
Ability to focus; use of waste & residual feedstock

15. Sustainability ensuring access to markets
and customers
15
• Meeting strict sustainability
criteria of EU and US biofuel
regulations
• Sustainability management
throughout the supply chain
• Renewable feedstock
traced back to their origin
• 100% certified palm oil
Member since 2007/08

16. 16
NExBTL sales by region 2013
44%
56%
0
500
1 000
1 500
2 000
2011 2012 2013
ktons
NExBTL sales volume
Global majors
Specialized
companies
Regional retail and
wholesale companies
Ability to focus; Customer portfolio has grown to
50 customers globally

17. Main reasons for the success:
1. Innovation
2. Risk taking
3. Hard work and right competencies

18. We aim for continuous development and
improvement – flexibility is the key word
18
Productivity
growth
Product value
maximization
Feedstock
flexibility

19. Expanding existing capacity to 2.3 Mton/a
and driving down production costs
19
Target 2015
• Expand capacity
by 15% with minor
investments
• Ensure long
maintenance
shutdown intervals
of over 3 years
2.3 Mton
/year
$200 /ton
Capacity 2 Mton
/year
$220 /ton
Production
costs*
Current
*at full capacity utilization

20. NEXBTL product family – 100% bio-based
NEXBTL
renewable
diesel
NEXBTL
renewable
aviation fuel
NEXBTL
renewable
naphtha and
propane
NEXBTL
renewable
isoalkane
20

21. Thank you.
Lars Peter Lindfors, SVP Technology
lars-peter.lindfors@nesteoil.com