Ginkgo Investor Conference Presentation Deck
Program unit economics are strong and improving
% Cost Coverage of Programs(¹)
Foundry
Ginkgo has steadily increased the portion of program
R&D costs that are covered upfront by customers
120%
100%
80%
60%
40%
20%
0%
(2)
Adj. for Free COVID Services
■% Direct Cost Coverage
14-15
16-17
18-19
Year Deal Signed
11
2020
Number of Major Programs Initiated
Downstream Value
Ginkgo receives downstream value in multiple forms. The equity
value per program provides context for the future value.
100%
80%
60%
40%
20%
0%
(1) Represents cumulative revenues from 2017-2020 for programs signed in the relevant year(s) divided by the total program expenses in 2017-2020
(2) Adjusts out expenses associated with programs Ginkgo performed under our free $25M commitment to COVID programs in spring 2020
(3) Includes one program for publicly-traded Cronos which is structured as a lump-sum equity payment upon delivery
54
Royalty /
Other
20
Equity (3)
34
Major Programs
(2017-2020)
Ginkgo will recognize royalty
revenues over time as
programs are completed
and commercialized
The current equity value of
our major programs is
over $500M
...representing an average of
$15M per program
These should be
roughly equivalent in
value over the long-
run, but royalties take
longer to materialize
2021
RAYMOND JAMES | JUNE
GINKGO BIOWORKS
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