Quantafuel

Investor Presentation • Dec 2, 2021

Bank of America Materials & Infrastructure Conference

QUANTAFUEL ASA

Lars Rosenløv, CEO and Chris Lach, CCO

DISCLAIMER - IMPORTANT NOTICE

THIS DOCUMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSSESSIONS, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR TO ANY RESIDENT THEREOF, OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. THIS DOCUMENT IS NOT AN OFFER OR AN INVITATION TO BUY OR SELL SECURITIES.

This presentation (the "Company Presentation") has been prepared by Quantafuel ASA, reg. no. 915 119 484 (the "Company", and together with its consolidated subsidiaries, the "Group").

This Company Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction, and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity. This Company Presentation does not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on the Company, its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made.

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IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS BEING FURNISHED ONLY TO INVESTORS THAT ARE "QIBs", AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"). THE SHARES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER U.S. SECURITIES ACT OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, EXCEPT PURSUANT TO AN APPLICABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS.

This Company Presentation is subject to Norwegian law, and any dispute arising in respect of this Company Presentation is subject to the exclusive jurisdiction of Norwegian courts with Oslo District Court as first venue.

THE EYES OF THE WORLD HAVE BEEN ON COP26

• Never has there been a greater need for companies tackling threats to our environment
• We are proud to be part of the solution and a company that is acting now

Drive a sustainable future by converting plastic waste into valuable products

MANAGEMENT TEAM

Lars Rosenløv	Chris Lach	Terje U. Eiken	Kristian Flaten
CEO	CCO	COO	CFO

KEEP THE PLASTICS IN A CLOSED LOOP

Why plastics?

• ✓Plastic contributes to food waste reduction (1/3 of food ends up as waste)
• ✓Alternative wrapping material is four times as big/heavy
• ✓77% reduction in greenhouse gas emissions in the production of plastic bottles compared to glass
• ✓Plastic reduces the weight of cars and planes, and thus contributes to lower energy consumption

QUANTAFUEL ENABLES A CIRCULAR PLASTIC ECONOMY

Chemical recycling complements traditional mechanical recycling

DELIVERING ON OUR CUSTOMERS' EXPECTATIONS

Customers need more than just a physical product

• Credible end-to-end certification of source and process
• Health, Safety & Environment
• Lowest possible carbon footprint
• Right specification at lowest cost

SKIVE PLANT – KEY ACHIEVEMENTS

Unique chemical recycling plant with 20,000 tons yearly capacity

• ✓ Produced chemical products within specification
• ✓ Produced at design capacity
• ✓ Produces at high load for three to five days with each line
• ✓ Processes large span of plastic qualities
• ✓ Delivers products to BASF

SKIVE PLANT – STATUS UPDATE

• Modifications/turnaround on schedule
• The forecasted CAPEX remains unchanged
• First shipment containing oil made from Norwegian household plastic waste

TESTING MIXED FEEDSTOCK IN SKIVE

• Continuous focus on feedstock
• A large span of plastics qualities tested in Skive
• The product quality is in line with offtake agreement
• The end products replace fossil feedstock
• Aalborg sorting facilities stabilizing feedstock quality

KRISTIANSUND – RECYCLING INVESTMENT ON TRACK

• Developing a unique plant with combined mechanical and chemical recycling
• On track with expansion of mechanical recycling capacity and capability, with first plastics in the new line this month
• Margin development in mechanical recycling better than expected
• Testing of pilot reactor for chemical line is ongoing, processing plastic waste and producing chemicals with promising quality

EVOLVING OUR SOLUTIONS FOR TOMORROW'S NEEDS

• Over time

• Our feedstocks will be more challenging
• Our customers will be more demanding
• Our R&D-team works diligently to continuously improve our technology to be ready for the coming challenges
• Quantafuel is building the purification toolbox to serve specific customer demands at lowest cost
• Continuing Joint Development with BASF

EXECUTING ON OUR STRATEGY

• Integrate into recycling economy and grow further internationally
• There is a significant interest for our products
• Quantafuel is well positioned to capitalise on these opportunities based on our process and technology toolbox
• Many exciting plans in the pipeline

PRODUCTION PLANTS AND PIPELINE PROJECTS

Several additional production plants planned with existing partners

SIGNIFICANT STEPS IN UK

• Quantafuel's first UK plant is planned for Sunderland, in Northeast England
• A prime 50,000 m² site in the Port of Sunderland has been selected
• More than 100,000 tonnes of plastic waste to be processed
• Strong support from the City Council

ESBJERG UPDATE

• Infrastructure is being prepared
• The tender process for civil works and the plastic sorting supplies is progressing
• Partner screening is ongoing and the project is proceeding with detailed discussions in Q4

www.quantafuel.com IR@quantafuel.com