Agilyx — Investor Presentation 2021

Sep 14, 2021

Leading the way to make plastics circular

Agilyx Investor Presentation

September 2021

Important Information

This presentation (the "Presentation") has been prepared by Agilyx AS, a Norwegian private limited company with itsshares admitted to trading on Euronext Growth (Oslo) underthe ticker "AGLX" (the "Company"). In this Presentation, referencesto the "Company", "Group", "we", "our", "us", orsimilartermsrefertoAgilyx ASandits consolidated subsidiaries, exceptwhere contextotherwise requires.

ThisPresentationhasbeenpreparedforinformationpurposesonly, anddoesnot constituteorformpartof, andshouldnot beconstruedas, anyoffer, invitationorrecommendationto purchase,sellorsubscribe forany securitiesinany jurisdictionandneither theissueoftheinformationnoranythingcontainedhereinshallformthebasisoforberelieduponinconnectionwith,oractasaninducementtoenterinto,anyinvestmentactivity.Thispresentationdoesnotpurporttocontainalloftheinformationthatmaybe requiredtoevaluateany investmentintheCompanyoranyofitssecuritiesandshouldnotbereliedupontoformthebasisof,or bereliedoninconnectionwith,anycontractorcommitmentorinvestment decisionwhatsoever.Thispresentationisintendedto present background information ontheCompany, itsbusiness andthe industry inwhichitoperates andisnotintended toprovide complete disclosure uponwhichaninvestment decision couldbemade.

ThisPresentationisfurnishedbytheCompany,anditisexpresslynotedthatnorepresentationorwarranty,expressorimplied,astotheaccuracyorcompletenessofanyinformationincludedhereinisgivenbytheCompany.ThecontentsofthisPresentationare notto beconstruedasfinancial, legal, business, investment,taxorother professional advice. Eachrecipientshould consultwith itsown professionaladvisorsfor any suchmatterandadvice.Generally, any investmentintheCompany should beconsideredas a high-risk investment.

Unlessotherwise stated,theCompany isthesourceforinformationincludedinthisPresentation.Informationprovidedonthemarket environment, developments,trendsandonthecompetitivesituationisbasedondata andreportspreparedby thirdparties and/ortheCompany basedon itsown informationand information derived fromsuch third-party sources. Third party industry publications,studies and surveys generally state thatthe data contained therein have beenobtained fromsources believed to be reliable, butthatthere isnoguarantee ofthe accuracyorcompleteness ofsuchdata.

ThisPresentationiscurrent as of 14 September 2021. NeitherthedeliveryofthisPresentationnoranyfurtherdiscussionsoftheCompanywithanyoftherecipientsshall,underanycircumstances, createany implicationthattherehasbeennochangeinthe affairs of the Company since such date. This Presentation contains several forward-looking statements, including statements relating to the business of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstancesandresultsandotherstatementsthatarenothistoricalfacts,sometimesidentifiedby thewords "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", andsimilar expressions.The forward-looking statements containedinthisPresentation, includingassumptions, opinions andviewsoftheCompanyor citedfromthirdparty sources, are solely opinions andforecastswhich are subjectto risks, uncertaintiesandotherfactorsthatmay cause actualeventstodiffermaterially fromanyanticipated development.

The distribution of this Presentation by the Company in certain jurisdictions may be restricted by law. Accordingly, this Presentation may not be distributed or published in any jurisdiction except under circumstancesthat will result in compliance with any applicable lawsandregulations.. This Presentation doesnot constitute anofferof,oraninvitation topurchase, any securities.

THE COMPANY´S SHARESHAVENOT BEEN,ANDWILLNOT BE, REGISTEREDUNDERU.S. SECURITIESACTORWITHANY SECURITIESREGULATORY AUTHORITYOFANY STATEOROTHER JURISDICTIONINTHEUNITEDSTATES, AND MAYNOT BEOFFEREDOR 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. SECURITIESACTANDINCOMPLIANCEWITHANYAPPLICABLE STATE SECURITIESLAWS.

This Presentation issubjecttoNorwegian law,andanydispute arising inrespect ofthis Presentation issubjecttotheexclusive jurisdiction ofNorwegian courtswithOsloDistrict Courtasfirst venue.

Solid Foundations: Positioned For Developing Opportunity

Recycling Pioneer

• Leader in advanced mixed-waste plastics recycling solutions
• Diversified revenue streams from technology license, equipment sales, operating royalties and feedstock service fees
• Working with a broad range of industries focused on petrochemical, retail and technology
• Sophisticated feedstock management and analytics

Overview Corporate Structure and Key Activities

Agilyx Proposition

Emerging waste plastic conversion market; core to ESG

Capital-light business model

Fully integrated player with feedstock and conversion technology

Strong growth with potential to accelerate

Highly versatile, proven and proprietary conversion technology

Established partnerships with credible and relevant companies

Experienced and dedicated team; Chemicals and Waste Management

Current Market Opportunity >250Mta

Today's Recycling Landscape for Plastic Waste Globally

Source: IHS Markit, * 100 TPD conversion unit ** over project lifetime

Capital light go-to-market strategy

Expect to bring one new project into development on average every quarter

Development phase (1-2 years)	Construction phase (1-2 years)	Operations phase (20+ years)
• Feasibility studies and engineering support	• Technology license sale Sale of Agilyx conversion equipment •	• Royalties technology license Operations and maintenance •
• Identification and characterization of plastics	• Feedstock recipe matched to conversion technology and product	• Feedstock optimization drives efficiency
Revenues	Revenues (per 100 tons/day project)	Revenues (per 100 tons/day project)
USD 3-5 million	USD 15 -20 million	Royalties; margins on feedstock volumes; operational support

Industry Partners

Agilyx Conversion Technology

Agilyx Conversion Technology

Cyclyx Creating a New Supply Chain for Waste Plastic

Cyclyx: Growing List of Members & Partners

Active Member Discussions > 215

Current Forecasted Annual Cyclyx Demand: Scalability

Cost/Royalty Per Ton

2025/26 Objective: Agilyx Revenue of \$200-300M

500 TPD in operation

1,500 to 2,000 TPD in development/construction

Consistent with longer term ambition for 1 500+ TPD in operation

Revenue Streams

• Feasibility Studies
• Project Development
• Core Equipment & Installation •
• Engineering Support •
• Construction Pass-Through •
• Royalties (Tech and Cyclyx) •

550,000 to 800,000 tons per annum

Consistent with longer term ambition for 3,000,000+ tons p.a.

Financial Implications at Goal Year

• Agilyx Revenues: USD 200 300 million
• Represents conversion business revenues
• Includes royalties from Cyclyx to Agilyx
• Cyclyx revenues not included