Dyadic International : Investor Presentation January 2022

Revolutionary C1 Protein Production Platform

Addressing Today'sVaccine & Therapeutic Shortfalls Through the Science of Tomorrow…

January 2022

M A K I N G H E A L T H C A R E A C C E S S I B L E & A F F O R D A B L E G L O B A L L Y

Safe Harbor Regarding Forward-looking Statements

Certain statements contained in this presentation are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding Dyadic's expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in Dyadic's most recent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this presentation, which are based on information available to us on the date hereof. Dyadic assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled "Risk Factors" in Dyadic's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, as such factors may be updated from time to time in Dyadic's periodic filings with the SEC, which are accessible on the SEC's website and at www.dyadic.com

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Our Mission, Transforming Biomanufacturing

"Improving how we feed1, fuel1, and heal the world by utilizing modern biotechnology to revolutionize science, medicine, agriculture1."

"Providing a cost-effective solution that increases outputs and to meet the growing demand for protein production."

"Ultimately fulfilling the unmet need of affordable biologic drugs, vaccines and biologic products and processes."

-Mark Emalfarb, CEO Dyadic

1 Dyadic has achieved certain ports of the above "Mission" through its twenty plus years of experience in industrial biotech. Currently, we are primarily focused on animal and human health applications while opportunistically exploring if and how we may enter/re-enter certain industrial biotechnology applications.

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Dyadic At-a-Glance

Re-engineering GMP Vaccine & Drug Production

• Proprietary & patented biologic and vaccine production platform (the "C1 Platform"), designed to bring biologic vaccines and drugs to market faster, in greater volumes, at lower cost
• The C1 platform is de-risked, with a safe and long track record in industrial protein manufacturing

Value Creation Through Technology

Licensing, Co-Development Partnering and

Wholly Owned Product Development

Market Capitalization	$118.8 million (as of 1/5/2022)
Cash & Investment-grade securities,	$22.8 million (as of 9/30/2021)
including accrued interest
Shares Outstanding	~ 28.1 million (as of 11/9/2021)
Debt and Warrants	None
Insider Ownership	~30%
2021 R&D Revenue (9 Months)	$2.1 million (YoY 66% increase)

NASDAQ	HEADQUARTERS
DYAI	Jupiter, Florida

HISTORY	RESEARCH LOCATIONS
Founded In 1979	Finland, Spain, US & Others
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Investment Highlights

Solid Financial Position with $22.8 million in cash and investment securities, no debt1 Harnessing the power of C1 fungi to transform manufacturing of vaccines and other therapeutics

Versatile Platform

Strong Competitive Advantage & IP Position

Large Addressable Market Ready for Disruption

Global Strategic Partnerships

Experienced Leadership

C1 protein production is a platform technology, with the potential to disrupt the manufacturing of sub-unit vaccines, therapeutics, enzymes and other protein and glycoprotein-based products

Robust scientific data demonstrating high productivity, stability, and purity. DuPont grant back of former Dyadic patents & several new provisional/patent applications

Vaccine and therapeutic manufacturing for humans and animals remains a broad addressable market with many shots on goal and ready for disruption

Global partnerships with top-tier biological R&D organizations, human and animal health pharmaceutical companies, governmental and private agencies

Highly experienced and energized executive management team and world-class Board of Directors & Advisors with over 200 years of combined manufacturing, clinical, and commercial experience

(1) As of September 30, 2021	5