Shell Transfers Its Codexis Shares to Raizen

Codexis, Inc.

today announced that Equilon Enterprises LLC, a wholly owned subsidiary of Royal Dutch Shell plc, has completed the transfer of approximately 5.6 million shares of Codexis common stock (which represents approximately 15.7% of Codexis' total outstanding shares) to Raizen Energia Participacoes S.A., a Brazil-based biofuels joint venture between Shell and Cosan Limited. This transfer occurred as part of the closing of the joint venture. As a result of the share transfer, Raizen is now Codexis' largest stockholder, and, under an existing stockholder agreement, has the right to appoint a representative to Codexis' Board of Directors. "We look forward to the opportunity to work with Raizen in development of biofuels," said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer. "With access to feedstocks and experience in ethanol production, Raizen has the potential to accelerate future commercialization of renewable fuels."