Quantafuel

Transaction in Own Shares • May 11, 2023

Quantafuel ASA | Mandatory notifications of trade – cancellation of share options

Quantafuel ASA | Mandatory notifications of trade – cancellation of share options

Oslo, 11 May 2023: Reference is made to the announcement on 5 May 2023 by Harald Norway Bidco AS, a wholly-owned subsidiary of Viridor Limited, regarding completion of the voluntary recommended cash offer to acquire all shares (the "Offer") in Quantafuel ASA ("Quantafuel" or the "Company").

In accordance with section 1.7 of the offer document dated 2 March 2023, the Company's board of directors has resolved to terminate the Company's share option program as adopted by the board of directors on 8 December 2020 (the "Option Program"). In connection with the termination of the Option Program, the options of the following primary insiders of the Company, all with a strike price above the price of NOK 6.38 per share in the Offer, have been cancelled without compensation:

• Lars Rosenløv, CEO: 900,000 options;

• Dr. Christian Lach, Deputy CEO and Chief Commercial Officer: 700,000 options;

• Christian Bekkevold Nilsen, CFO: 300,000 options;

• Terje U. Eiken, COO: 650,000 options;

• Ann-Christin Andersen, Chair of the board of directors: 170,000 options;

• Dr. Thorleif Enger, board member: 80,000 options;

• Wenche Teigland, board member: 40,000 options;

• Anette Knoph Lerø, board member (employee representative): 80,000 options; and

• Rene Ortiz Garcia, observer of the board (employee representative): 65,000 options.

See the enclosed forms for further details.

For further queries, please contact:

Lars Rosenløv, CEO +47 93018040

Christian Bekkevold Nilsen, CFO + 47 90277833

About Quantafuel | https://quantafuel.com

Quantafuel is a technology-based energy company converting waste plastics back into low-carbon synthetic oil products replacing virgin oil products. Quantafuel is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants and plans to establish several plants throughout Europe and beyond.

This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.