October 2020

Agilyx Corporation ©

Making Plastic Circular

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This presentation (the "Presentation") has been prepared solely for information purposes by Agilyx AS, a Norwegian private limited company with shares registered in the VPS (the "Company"). In this Presentation, references to the "Company", "Group", "we", "our","us",or similarterms refertoAgilyxAS andits subsidiaries, except where contextotherwise requires.

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Importantinformation

Experienced and dedicated team to supportfurther growth

Relevant experience: 25+ years

Tim Stedman CHIEF EXECUTIVE OFFICER

25+ years of experience in the chemical industry working for industry leaders such as Trinseo and ExxonMobil Chemical. Most recently in the capacity of SVP of Strategy andCorporate Development for Trinseo. Served as VP of Plastics Europe and on the ACC Plastics Division Operating Committee Education: B.Eng. in Chemical engineering andFrench

Russ Main CHIEF FINANCIAL OFFICER

25+ years of executive finance and operational experience optimizing finance, operations, technology and profitability within highly complex global environments. Former CFO of Abode Systems and over 23 years of financial leadership positions at Tyco International. He holds a B.S. Economics/Finance

Relevant experience: 25+ years

Joseph Vaillancourt Relevant experience: 30+ years BOARD MEMBER, PRESIDENT OF CYCLYX

30+ years in energy and environment sectors. Serial Entrepreneur, co-founded 10 companies. Former VP Ventures Waste Management, SVP Intrexon Environment. Helped commercialize 15 technologies. Has served as a board member for 15 companies. Raised and deployed >\$2.5 billion. B.S. Accounting, Finance, M.B.A.

WilliamCooper SVP, CORPORATE STRATEGY

Accomplished executive with CFO, investment banking and consulting experience. MD withVenture Enterprises & former senior banker with ABN AMRO, Donaldson, Lufkin & Jenrette, Seven Hills and Wedbush Securities. B.A., Economics

Relevant experience: 25+ years

SELECTED BOARD MEMBERS

PeterNorris CHAIRMAN OF THE BOARD

35+ years of experience in investment banking andbusiness management, having worked for Barings, Goldman Sachs, Quayle Munro prior to his current position as Chainrman of Virgin Group for which he has acted as adviser since 1996. Mr. Norris graduated in Modern History and Modern Language in 1976, from Magdalen College, Oxford

RanjeetBhatia BOARD MEMBER

Mr. Bhatia is the co-founder and managing director of Saffron Hill Ventures, aglobal venture capital firm focusing on the software and cleantech sector. Previously he has advised and evaluated technology venture opportunities for Lord Rothschild. MBA, MA. in International Relations and Economics, BA. in Environmental Science

Preben Rasch-Olsen BOARD MEMBER

20+ years of experience as a financial analyst for Carnegie and Handelsbanken covering the media, consumer and renewable energy sector. He has extensive IPO experience. Mr. Rasch-Olsen currently holds the capacity as an investment director for Carucel Holding, M25 Industrier and Rasche Investeringer

Catherine Keenan BOARD MEMBER

30+ years in the chemical and plastics industry, with deep experience in sustainability, government and public affairs, crisis management, stakeholder engagement, branding and reputation management. Began career at Dow Chemical, with leadership roles in M&A integration, public policy issues management, media relations and marketing communications; later VP and Chief Sustainability Officer at Trinseo S.A.

Plastic has transformed modern life,...

...but plastic waste is a problem that needs to be solved now!

Chemical recycling:

Returns plastic to its original chemicalcomponents
Creates newplasticswith qualities equalto the original material
Allowsproducersto meet recycled contentmandates
50% - 70% lower carbon footprint comparedto virgin manufacturing(1)

Chemical recycling makes plastic a circular resource

90%(2) ~10% +80% Mechanical Difference recycling Chemical recycling

production; 2) company estimate Note: 1) Plasticmanufacturing based on crude oil

Source: 1)Geyeret al. (2017); 2) company estimate

Agilyx has a dedicated focus on chemical recycling and an enabling feedstock management expertise

Note: 1) Wholesalers, retailers, businesses private individuals, public entities, etc.

The Agilyx platform can make a variety of new products from waste plastic – such as base feedstocks, discrete polymers, or drop-in fuels – each helping to take the plastic recycling rate from 10% to 90%.

… Into a Variety of Low-Carbon, High-Value Products

Discrete Polymers

High-quality, industrial-grade styrene that is ready to be dropped into existing polystyrene manufacturing facilities, with similar pathways for PET and acrylic.

Low-Carbon Fuels

Low-carbon, sustainable oil made from mixed waste plastic ready to be refined into drop-in fuels.

Styrene
PET
Acrylic

VGO Crude Oil Jet Fuel Bunker Oil Diesel

Polymer Base Stocks

Low-sulphur, ultra-low residuals for drop-in to existing olefin manufacturing facilities (polypropylene and polyethylene) or use as a naphtha feedstock.

Naphtha Olefin Polypropylene Polyethylene

How does Agilyx plan to enable plastic-to-plastic recycling to go from 10%to 90%(1)?

to 10% 90%

…supporting customersthroughoutthe plastic-to-plastic

lifecycle

UNIQUE COMBINATION OF CAPABILITIES VALUED BY CUSTOMERS

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Plastic-to-plastic conversion technology 1 2

Sophisticated feedstock management

Agilyx benefits from diversified revenue streams

	Revenue recognition
		Contract win Firm contract value at signing
ility size)	Payments	Typically prepaid
mer needs ട്ട് eedstock expertise licensing igh revenue and EBIT potential	Revenue	Revenue recognised based on project completion rate

Agilyx proven technology enables new life for plastic waste

1	Highly flexible and robust plastic waste conversion technology Flexible system design –multiple product pathways –Handles wide range of feedstock quality and contamination
2	Well-invested proprietary technology platform developed over 15 years 7 technologies released –USD ~150 million invested since start –IP protected and trade secrets
3	Deep feedstock expertise with unmatched dataset of waste plastic Sophisticated and cost-efficient feedstock aggregation –1,500 conversions of waste plastics to more than 1,000 product variations
4	Uniquely positioned as a market leader with strong competitive edge Only player delivering both feedstock management and pathway flexibility –Plastic as a truly circular resource (No degradation)
5	Proven technology – first plastic-to-plastic facility in operation in 2018 Produced more than 1 million lbsof recycled styrene monomer –ISCC PLUS recycled content certification
6	Significant market demand ramp-up needed to meet ambitious targets Regulatory framework favoring recycling –EU with ambitious plastic recycling ambitions(1)–Voluntary pledges by businesses
	Source: 1) https://www.consilium.europa.eu/media/45109/210720-euco-final-conclusions-en.pdf

Plastic-to-plastic conversion technology enabled by a combination of feedstock management expertise and conversion technology platform

Well-invested proprietary technology platform

OVER 15 YEARS OF TECHNOLOGY DEVELOPMENT:

· 7 TECHNOLOGIES RELEASED
· USD ~150 MILLION INVESTED

A TRULY DIFFERENTIATING PROPRIETARY TECHNOLOGY PLATFORM

HISTORICAL DEVELOPMENT IN TECHNOLOGY GENERATIONS

2006 Gen 1: 18-hour cycle
2007 Gen 2: 12-hour cycle
2008 Gen 3: 6.5-hour cycle
2010 Gen 4: 5.25-hour cycle
2012 Gen 5: Semi-batch production

Combination of IP protection and trade secrets

System design: enhances throughput and product flexibility

Robust system handles a wide range of feedstock quality and V contamination

V Modular, scalable and versatile

Agilyx launched the first commercial closed loop plastic-to-plastic facility in 2018...

…the worlds first commercial closed loop plastic-to-plastic facility

FACILITY FACT SHEET

Converting waste plastic into new plastic raw material with food grade quality

Facility is owned by Regenyx

Regenyx is a JV owned by Agilyx and AmSty 50/50

AmSty is owned by Chevron Phillips Chemical and Trinseo

Facility

Operations

Polystyrene to styrene monomer Pathway

Brand PolyUsable (end-product)

Certification ISCC PLUS Certified Circular Pathway

Ownership

Launched 2018

Location Tigard (Oregon, US)

Capacity 10 tonnes per day

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Agilyx is a leader in the waste plastic conversion landscape

Source: Company estimates; Note: Companies sprolysis technology-focused players, chemical majors, waste & recyclers and gosfication players

agilyx (with circular offering)

...INCREASINGLY RECOGNIZED AS A COMPETITIVE EDGE

Customers are looking for solutions that handle both feedstock management and conversion technology
Only fully integrated player
- Customers seek deep knowledge of waste stream remediation to optimize conversion rates and deliver an efficient technology
- • The investments into conversion technology as well as building up the feedstock management system including the conversion database is the basis for a robust competitive edge

Agilyx offering: Circular pathway by plastic type

High

New regulatory requirements drives a growing need for chemical recycling

Walmart to use at least 20% postconsumer recycled content in all private brand packaging by 2025

By 2030, all IKEA products and packaging materials will be based on renewable and/or recycled materials

Nestle to purchase USD 1.6bn (2 million metric tons) of recycled plastic through 2025, invest USD 260m in sustainable packaging startups

By 2025, Unilever plans to use at 25% of recycled plastic in its packaging

By 2025, Coca-Cola aims to source 50% of its plastic bottles from recycled content

SABIC outlines intentions for TRUCIRCLE™ to close loop on plastic recycling

REQUIRING ACTIONS BY PLASTIC MAJORS

Toyo Styrene licenses Agilyx technology for Japanese market

Americas Styrenics forms Regenyx joint venture with Agilyx

To offer 30% recycled polystyrene in plastic packaging in Europe by 2025

	REGULATORY FRAMEWORK FAVORING RECYCLING	ACTIONS ARE TAKEN BY MAJORS (CPGS)
EU	Target set for 50% recycling rate for plastic packaging by 2025 (up from 30% now) and 55% by 2030 EU plastic recycling volumes can no longer be sent to China (China "National Sword" policy)	Nestle to purchase USD 1.6bn (2 million metric tons) of recycled in sustainable packaging startups
	2018 EU strategy for Plastics in a Circular Economy: by 2030 sorting and recycling capacity in EU has increased four-fold (10 million tonnes of recycled plastics)	of recycled plastic in its packaging
UK	New plastic tax of EUR 800 / tonnes effective from January 2021 Plastic Packaging Tax on all plastic packaging that does not contain at least 30% recycled content	By 2025, Coca-Cola aims to source 50% of its plastic bottles from recycled content
US	RECOVER ACT calls for \$500 million in recycling infrastructure grants	By 2030, all IKEA products and
	Break Free From Plastics Pollution Act aims to phase out single-use plastics	Walmart to use at least 20% post consumer recycled content in all private brand packaging by 2025

A consortium of sector leaders that have committed \$1.5 billion to address the collection and recycling deficiencies of waste plastics

Note: Publicly available information

Unveiled plans to offer an average of 30% recycled content to customers for polystyrene packaging in Europe by 2025

Significant ramp-up of market demand needed to meet ambitious EU targets

Source: 1) Company estimates ; 2) European Commission: https://www.consilium.europa.eu/media/45109/210720-euco-final-conclusions-en.pdf

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EU VISION FOR A CIRCULAR PLASTICS ECONOMY(2) By 2030, sorting and recycling capacity has increased fourfold since 2015, spread all across Europe Circular Economy By 2030, more than half of plastics waste generated in Europe is recycled By 2030, all plastics packaging placed on the EU market is either reusable or can be recycled in a costeffective manner CASE EXAMPLE: RECYCLING COMMITMENT FROM 2 PLAYERS FOR ONLY 1 PLASTIC TYPE • North America and Western European polystyrene packaging demand is ~2.0 million tonnes annually • Trinseo and INEOS has approx. 50% market share combined • Committed to offer 30% recycled content by 2025 • Equivalent to ~10x plants of 100tonnes/day ~10x plants ~800x plants CASE EXAMPLE: EU: 100% RECYCLED PLASTIC PACKAGING BY 2030 • EU plastic packaging market estimated at 20.4 million tonnes annually (2018) • All plastic packaging either reused or recycled by 2030 • Equivalent to more than ~800x plants of 100 By 2025, 10 million tonnes of recycled plastics to be used in new products on the EU market

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tonnes/day

Recently announced partner milestones

Trinseo and INEOS Styrolution announce planned Wingles, France facility using Agilyx technology Sep 2020

Agilyx receives International Sustainability & Carbon Certification Plus

Toyo Styrene licenses Agilyx technology for recycling up to 10 tons per day post-use PS, Chiba Prefecture, Japan. Expected to start up early 2022

Exclusive collaboration with TechnipFMC to enable new pathways for post-use polystyrene

GE and Agilyx partner on Artificial Intelligence for Plastic Circular Economy

ANNOUNCEMENT	TIME	PARTNER
	Sep 2020

	May 2020

	Apr 2020
	Dec 2019
	Dec 2019
	Dec 2019

Worley to provide engineering design services for Illinois facility

Regenyx (Agilyx joint venture with AmSty) exceeds production of 1 million pounds of styrene oil 2019

Lucite Int'l and Mitsubishi Chemical Corporation working with Agilyx on PMMA with goal of commercialization by 2023 May 2020

AmSty, INEOS Styrolution and Agilyx to build facility for up to 100 tons per day of post-consumer polystyrene at Channahon, IL, USA. Now in Engineering phase

STATUS ON ACTIVE PROJECTS
---------------------------	--

Current pipeline overview

Feasibility study	Preliminary analysis on feedstock availability and conversion yields
FEL engineering	Pre-engineering work in phases – Increasing level of precision
Land	Process to find/purchase a suitable plot for facility – often co-located
Permits	Regulatory process including engaging EPC contractors

Key development workstreams

Plant overview	Development	Construction	Operations
Tigard, US	Complete	Complete	Commercial
Dev. project #1			Target start in 2022
Dev. project #2			Not disclosed
Dev. project #3			Not disclosed
Dev. project #4			Target start in 2023

Strong growthprospects in projectpipeline

Targeted capacity development

Our capacity development assessment is based on the current pipelinevisibility

Due to Covid-19 the construction phase for some projects have been delayed into 2021,however we continue to add attractive development projects

Feedstock (tons/day)
1 500
1 000
500 150	210
0

Medium term we target a run-rate installed capacity of over 500 tons per day

Longer term we see the run-rate installed capacity increasing to over 1500 tons per day. New development and construction projectsto run in parallel

CAPACITY DEVELOPMENT BY LIFECYCLE PHASE

Development Construction Operations

Strategy to become the leading technology platform for plastic-to-plastic conversion

Capable organization

· Innovation focus
· Complementary capabilities

Selective M&A

· If the right opportunity emerges

agilyx

Recognised global leader in technology solutions for plasticto-plastic recycling

Several attractive value creation avenues

Future

Thank you.

Learn more

Our website: www.Agilyx.com

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