BioAmber signs supply agreement with Oleon

December 3, 2014, Sarnia, Ont. – BioAmber Inc. announced it has signed an exclusive supply
agreement for bio-based succinic acid with Oleon. Under the terms of the 5-year contract, which
runs from 2014 to the end of 2018, BioAmber Sarnia will supply Oleon with
bio-based succinic acid for the development and production of succinate
lubricants. 

Oleon, a division of Sofiproteol, is a leading European
producer of oleochemicals (oil derived chemicals). Oleon is developing a new
line of succinic acid based lubricants that target 100 per cent carbon
renewability. Oleon is combining bio-succinic acid and (bio-based) alcohols to
produce a new line of lubricants for industrial uses requiring high
performance, biodegradability and renewable content.

Oleon's new line of succinic acid based lubricants targets a
strong performance in extreme conditions, including cold weather, where they
offer improved temperature flowability without compromising seal compatibility.
These Oleon lubricants also offer good physico-chemical properties including
oxidation and hydrolytic stability, pour point and color. BioAmber will supply
Oleon from its Sarnia plant, which is expected to be completed in early 2015
and have an initial capacity of 30,000 tons per year.

"Oleon's new line of lubricants is a great example of
the value and differentiation that bio-based succinic acid can bring in
technically challenging applications," said Jean-Francois Huc, BioAmber's
Chief Executive Officer. "Our work with Oleon, an innovator in
oleochemicals, is helping to drive adoption of new, succinic acid based
solutions in the industrial segment of the lubricants market."

"This agreement highlights the importance of
collaboration to accelerate innovation in the oleochemical industry," said
Moussa Naciri, Oleon's Chief Executive Officer. 
"We believe that working with sustainable chemical companies such
as BioAmber brings fresh ideas and new products offering unique combinations of
performance and sustainability for our industry," he added.