Quantafuel

Quarterly Report • Nov 13, 2020

Quantafuel ASA | Third quarter results 2020

Quantafuel ASA | Third quarter results 2020

Quantafuel reached an important milestone in the company’s history in September 2020 when starting transforming plastic waste into liquid products at our plant in Skive, Denmark. Liquids produced to date are within specifications received from BASF at this stage and will improve further over time when we continue the adjustment process to bring the first production line and then the whole factory to nameplate capacity.

Ongoing optimization process to get one line up to full capacity, and production challenges in ramping up are clearly addressed and in progress.

Highlights:

• Start-up of production in Skive

• Strong progress on our FEED study for new large-scale facilities, selecting Esbjerg, Denmark, as our next project location

• Acquisition of Replast to establish a full-scale chemical and mechanical recycling facility in Kristiansund, Norway

• Establishment of Quantafuel R&D in Sweden through the purchase of certain IP- and licensing rights from Hulteberg

• Non-cash financial cost of NOK 308 million relating to the BASF convertible loan

• Successfully raising NOK 852 million in the quarter

Please see the attached Q3 2020 report and Q3 2020 presentation for further information.

A presentation followed by Q&A will be held by CEO Kjetil Bøhn at 09:00 CET. The presentation will be held in English and can be followed via video streaming or conference call.

Video link:

https://paretovideo.com/webapp/?conference=1238377532@paretovideo.com

Conference call:

+47 21402311, ID: 762928310#

For further queries, please contact:

Kjetil Bøhn, CEO +47 91573818

Kristian Flaten, CFO +47 95092322

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.