Quantafuel

Share Issue/Capital Change • Jan 12, 2021

Quantafuel ASA | Share issue towards shareholders of Geminor Invest AS

Quantafuel ASA | Share issue towards shareholders of Geminor Invest AS

Reference is made to the stock exchange notice by Quantafuel ASA ("Quantafuel") earlier today regarding the acquisition of 40% of the shares in Geminor Invest AS against a purchase price of NOK 168 million to be settled in 2,720,044 consideration shares in Quantafuel plus a cash element of approximately NOK 2 million.

As further discussed in the notice, the issue of the consideration shares in Quantafuel was resolved by the board of directors today by use of the board authorisation granted by Quantafuel's extraordinary general meeting on 3 July 2020. Following the issue of the consideration shares, Quantafuel's issued share capital will be NOK 1,385,462.61 divided on 138,546,261 issued shares, each with a par value of NOK 0.01.

For further queries, please contact:

Kristian Flaten, CFO +47 95 09 23 22

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.