SAF Development and Deployment Update

Overall industry summary on SAF

SAF are key for meeting industry’s commitments on carbon reductions
-  Aviation enterprise aligned, representing a 26B gpy US & 97B gpy worldwide opportunity
-  Jet fuel demand expected to increase for foreseeable future ... 3 - 5% per year (following COVID rebound)
-  SAF delivers net GHG reductions of 65-100+%, other environmental services
-  Segment knows how to make it; Activities from FRL 1 to 9, with many in “pipeline”
-  CAAFI and others are working to foster, catalyze, enable, facilitate, ...
-  First 6 facilities on-line (5 from lipids), increasing run-rates, multiple offtakers
- Commercial agreements being pursued, fostered by policy and other unique approaches
- Pathways identified for fully synthetic SAF (50% max blend today), enhancing SAF value proposition
by enabling deeper net-carbon reductions
- Additional work needed on “appropriate conversion process for targeted feedstocks” enabling
affordability