Agilyx — Investor Presentation 2021

Apr 14, 2021

Fearnley Securities Chemical Recycling Webinar

14 April 2021

Making plastic a circular resource

1 Fearnley Securities Chemical Recycling Webinar

Thispresentation(the"Presentation")hasbeenpreparedbyAgilyxAS,a Norwegianprivatelimitedcompanywithitsshares admittedtotradingonEuronextGrowth(Oslo)undertheticker "AGLX" (the"Company"). Inthis Presentation,references tothe"Company", "Group", "we", "our", "us",orsimilartermsrefer toAgilyx ASanditsconsolidated subsidiaries, except wherecontext otherwiserequires.

This Presentation hasbeenpreparedforinformationpurposesonly,anddoesnotconstituteor form partof,andshouldnotbeconstruedas,any offer,invitation or recommendation topurchase,sellorsubscribeforany securitiesinany jurisdiction andneitherthe issue oftheinformation noranything containedherein shall form thebasis of orbe reliedupon in connection with,oractasan inducementto enter into,any investmentactivity. Thispresentation does notpurport tocontainall of theinformation thatmaybe requiredtoevaluateany investmentin the Companyorany of itssecuritiesandshouldnotbe reliedupon toform thebasis of,orbe relied on in connection with,any contract orcommitmentor investmentdecision whatsoever. This presentation isintended topresent background information on the Company, its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made.

This Presentation isfurnishedby the Company,anditis expressly notedthat no representation or warranty, express or implied,astotheaccuracy or completeness ofany information included herein isgivenby the Company. The contents of this Presentation are not to be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice. Generally, any investment in the Company shouldbeconsidered asahigh-risk investment.

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This Presentationiscurrent as of 14 April 2021. Neitherthedeliveryofthis Presentation norany furtherdiscussions ofthe Companywithanyofthe recipientsshall,underanycircumstances,createany implicationthattherehasbeennochange in the 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 concernfuturecircumstancesandresultsandotherstatementsthatarenothistorical facts,sometimesidentifiedby thewords "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are subject to risks, uncertainties andother factorsthatmaycauseactualeventstodiffer materially from anyanticipateddevelopment.

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THECOMPANY´S SHARESHAVENOT BEEN, ANDWILLNOT BE,REGISTEREDUNDERU.S. SECURITIESACT ORWITH ANY SECURITIESREGULATORY AUTHORITY OFANY STATEOROTHERJURISDICTIONINTHEUNITEDSTATES,ANDMAY NOT 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. SECURITIESACT AND INCOMPLIANCE WITHANY APPLICABLE STATE SECURITIES LAWS.

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Important information

Agilyx Snapshot

4 global locations

Number of employees

70+

16 years of technology development:

7 technologies released

• Toyo •
• Exxon •
• Braskem •
• AmSty •
• Lucite •
• NextChem

Norway

Leader in Advanced Recycling

First commercial closed loop plastic to plastic facility

What is our addressable market?

Agilyx – where do we fit into the solution space?

• We are a complementary technology to mechanical recycling

• Chemical Recycling aims to take difficult-to-recycle plastics out of waste stream
• Our global addressable market is 80% of > 250 million metric tons annually
• With <0.1% of plastic waste currently being chemically recycled, we are at the very beginning of an exciting journey

Today's Recycling Landscape for Plastic Waste Globally

What is our advantage?

Understanding characterization & applicability of feedstock Agilyx Conversion Technology

Agilyx and Cyclyx: feedstock technology and robust conversion technology

Coordinate Offtake Demand and Distribution

• Pathway flexibility
• Enhance throughput

• Maximize yield

• Optimize chemistry

• Product consistency
• Contamination control

Plastics are composed of a great variety of chemical substrates, tailored for thousands of specific uses.

This complexity makes re-using plastics extremely challenging.

Type	Demand		Packaging uses	Non-packaging uses
PET	24%		Beverage bottles (Transparent)	Seat belts Apparel
$\boldsymbol{\Delta}$ HDPE	14%	$\overline{O}$	Milk/Shampoo bottles (Opaque)	Water pipe Dust bins
PVC	14%		Cosmetic Containers Oil/Cleansing products Cling Wrap	Window sheet Water pipe Electrical insulation
$\boldsymbol{\Delta}$ LDPE	17%		Plastic bags Bin bags Films inside packages	Toys Buckets Electrical insulation
43 PP	23%		Straws Ice cream Tubs Lock & Lock	Consumer electronics Textiles Auto parts
$\boldsymbol{\Delta}$ PS	6%		Disposable cups Protective packaging	Cutlery Appliances

Complexity: plastics are not one single material, but complex chemical products

Agilyx is Data-Driven

Over the last 16 years, we have built a dataset of more than 2,000 plastic waste characterizations and 1,000 hydrocarbon substrates.

For each source, we have more than 100+ data points and continues to build on this foundation.

Agilyx has recipes for more than 1,500 commercial conversions of various waste plastics to more than 1,000 variations of hydrocarbon products.

Data & Analytics

Our dataset of waste plastic is unmatched in the industry, enabling us to create vertically integrated, customized pathways from plastic feedstock to products.

Cyclyx: transforms waste plastic into a recyclable resource

Agilyx: a robust conversion processes is key to recyclability

• 7 th Generation with 16 years of improvement
• Continuous Process for high throughput

• Versatile Technology for variety of outputs & pathways

• Fully Automated system operations for scalability

• Robust Process allows contaminated feedstocks
• No Catalyst allows broad range of plastic feedstocks & blends

How to accelerate growth?

Capital light go-to-market strategy is based on technology licensing and royalty streams

= Decision gate

Levers to Growth

In the long term, Asia with even larger potential market

Biggest potential to scale globally in mixed-waste plastic (MWP) and larger PS plants supported by Cyclyx sourcing strategy

Focused capital investments in proof-of-concept (PoC) full-scale plants can accelerate growth and unlock demand for technology licensing

Partnership key to scaling: JVs with chemical companies & collaboration with

Accelerating Growth: partnerships and co-investment

NextChem: validation and acceleration of growth

LEADING TECHNOLOGY & EPC PARTNER

• Technological solutions to ensure the Energy Transition • Licensing, EPC Services and Project Development

Partnership Models: scaling to accelerate capital light growth

Opportunities to Accelerate

• Collaboration with technology licensor
• Manufacturers favor licensing BUT preference for co-investment around proof of concept
• Co-investment facilitates decision making; speed into development and to construction

Shared plant (JV)

• ✓ Total project pipeline in line with prior ambition.
• ✓ New projects in portfolio offset delays in others.
• ✓ Leading-edge project, Toyo, progressing on schedule.
• ✓ Target: one new project into development on average every quarter.
• ✓ No change in longer term aspiration.
• ✓ Partnerships and co-invest provide a route to acceleration.

Summary

Thank you.