Quantafuel

Earnings Release • Aug 27, 2020

Quantafuel ASA | Second quarter results 2020

Quantafuel ASA | Second quarter results 2020

Quantafuel was in June qualified for material recycling by the Norwegian Environment Agency (Miljødirektoratet). This changes the price structure on raw material for our plant in Skive, Denmark, and lays the foundation for a major European industrial roll-out fuelled by a NOK 250 million investment by KIRKBI.

In August, key suppliers have arrived in Denmark, and we are now preparing to start commercial production with a key focus on safety. All systems, all critical parts of the production process and all safety measures have been tested repeatedly, at production temperature and with gas, and we are now looking forward to introducing plastic and starting production.

Highlights:

• Preparing for start of production in Skive

• Contract with Grønt Punkt Norge for up to 10,000 tons of plastic waste

• Started FEED study for a new plant in Denmark

• Investment in Replast and building chemical recycling plant in Norway

• Completed NOK 250 million private placement towards KIRKBI

Please see the attached Q2 2020 report for the consolidated financial statements of Quantafuel.

A conference call followed by Q&A will be hosted by CEO Kjetil Bøhn and CFO Kristian Flaten today at 10:00 CET. The call will be held in English. Please register your attendance via the following link:

http://emea.directeventreg.com/registration/2296312

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.