Agilyx — Investor Presentation 2022

Apr 27, 2022

Agilyx Investor and Analyst Update Meeting

Oslo, Norway April 27, 2022

Feedstock as a service

• Step change of volume through Cyclyx
• Further expand membership across the supply chain
• 1 PRF in operation
• 2-3 additional PRFs in development in the US
• Extend Cyclyx activities into Europe and Asia

Waste to Feedstock

Conversion Technology Solutions

• 1 new project into development/quarter on average; 4 in 2022
• 3 projects in license/construction
• Partnerships developed for new pathways and to reinforce global scale up
• Further leverage EPC contractors to support rapid scale
• Develop opportunities with infrastructure funds to accelerate projects

Feedstock to Product

Recap of the goals that we laid-out in January 2022 ...

Agilyx up-listed on to the main list of the Oslo Stock Exchange

Unique Integrated Solution for Plastic Waste

polystyrene recycling facility in Japan: payment of \$4.8M received in early April (\$3.8M expected in H2 2022)

▪ Successful in growing and diversifying the business pipeline - volume potential up 115% LTM to March 2022

- The commercialisation of Agilyx' technology is on track as signalled by Toyo starting construction of its

• Now planning to up-list onto the main Norwegian stock exchange by the end of June 2022 ahead of previously stated plan
• is moving ahead through engineering with the support of our main partner
• technology and EPC (engineering procurement and construction) company

▪ Cyclyx continues to increase sales and grow membership; the announced Advanced Plastic Processing Facility

▪ The core Agilyx technology continues to improve as illustrated by partnership in the styrenics value chain (market size is in the tens of USD billions) with Technip Energies (ticker: TE.PA), which is a globally leading

… Update now: Agilyx is on track in building-out its business

Up-listing to the main Oslo Børs targeted by the end of June 2022

We are running three work-streams to get ready:

1. Getting Agilyx AS 'up-listing ready'

• Conversion of Agilyx AS into an ASA; become 'up-listing ready' from a corporate and governance point of view including Board composition – proposals included in AGM Notice to be posted today (scheduled: AGM 5 pm May 12, 2022)
• Existing liquidity sufficient for up-listing requirements

2. Audit and the prospectus

• Finalization of the audited IFRS Financials (targeted: end of May 2022)
• Preparation of the Listing Particulars (Prospectus) to be filed with the Finanstilsynet (targeted: May/June 2022)

3. Listing process with Oslo Børs

• Undergoing legal and financial due diligence exercise (targeted: May 2022)
• Submitting Introductory Report and Listing Particulars (targeted: June 2022)
• First day of listing at Oslo main exchange (targeted: Late June 2022)

Business model proof of concept: Toyo

• Construction phase signifies customer commitment
  • Significant capital committed above core equipment
  • But equally provides step change in revenue for Agilyx
• Core equipment is predominantly long-lead time
  • Ordered right at the start of the construction phase
• First purchase order and associated cash now received
  • \$4.8M received in early April
  • Revenue to be recognized over the coming ~6 months
  • Further payments totaling \$3.8M will be received in H2 2022
• Plant commissioning planned for Q1 2024

3D View of 10 TPD Plant

Feedstock to Product

Strong and diversified project pipeline

• Polystyrene 10TPD
• In construction / Operation 2023

• Equipment purchase order March'22

• Polystyrene 100TPD

• FEL 3 to start Q2'22 / FID end'22

• Financing partner

• Mixed Waste Plastic 200 TPD

• FEL 1 completed

• Site selection evaluation

• Polystyrene 100 TPD

• FEL2 ongoing

• FEL3 scheduled for July/Aug'22

• Polystyrene 100TPD

• FEL1 data pack delivered

• Feedstock testing proposal

• Mixed Waste Plastic 200TPD

• Low Carbon Fuels
• FEL1-3 FID collaboration with NextChem

Projects in Negotiation / Feedstock Evaluation Projects in Development / Construction

Project Scoping			Project Development				Project Construction		Operations
Prospecting (NDA)	Proposal	Negotiation	Feedstock Evaluation	FEL 1	FEL 2	FEL 3	Engineering & Construction	Commissioning & Start-up	Operations
68 Projects		10 Projects		4 Projects		1 Project		1 Project

• Acrylics 50TPD
• Successful Trials completed

• FEL1.5 decision start April'22

• Mixed Waste Plastic for Energy Generation

• Option negotiation
• Polystyrene 10 TPD
• JV with AmSty
• In operation

Project A Project B

Project C

• Polystyrene 50-100TPD
• FEL1-2 scoping ongoing / YE
• Plastic waste regional study

• Mixed Waste Plastic, 50-100 TPD
• Successful technical qualification

• Project Kick-off May'22

• Feedstock analysis completed

• Mixed Waste Plastic, 50-100 TPD
• Licensing & Equipment agreements

Continued expansion in business development pipeline

MULTIPLE PATHWAYS Mixed Waste Plastic, PS, PMMA

ROBUST PROCESS

allows broad range of plastic feedstocks & blends

Differentiated plastic conversion (recycling) technology

Feedstock to Product

Strengthening integrated circular technology in recycled styrene with Technip Energies

• Agilyx pyrolysis and Technip Energies partnership
• Enables new manufacturing pathway for styrene
• The first full technology solution for styrenics circularity
• High purity, fully circular recycled styrene of ASTM (American Society for Testing and Materials) quality
• Technip Energies is licensor of the technology pathway

Cyclyx brings a novel and differentiated approach to plastics recycling

Cyclyx International, LLC. ("Cyclyx") is a consortium-based company that has developed a variety of innovations that used in combination has the potential to greatly increase the recyclability of post use plastics.

• Enabling new recycling options that currently do not exist that can eventually encompass ALL waste plastics
• Deploy new waste aggregation programs that can support the objective of diverting of ALL waste plastics from landfill & waste to energy
• Develops new recycling facilities that have a greater ability to process waste plastic
• Aims to supports entire recycling industry: existing mechanical and emerging advanced recycling
• Directs cost efficiencies to all Cyclyx members through a utility like model

Cyclyx has developed 10 to 90; a consumer engagement brand to divert more waste plastics away from landfill needed for its ambitious mission: to increase the recyclability of post use plastics from 10% to 90%

Cyclyx able to service entire industry

Cyclyx International, LLC. I © 2022 I www.cyclyx.com

Cyclyx revenue model

Membership Fee paid Annually	Membership Fees to date relatively nominal. Scope for future development
all sourcing activities	Fee range= \$100k - \$250k 20%-35% GM
FS sourcing leveraging APPF and or tolling partners	Feedstock Sales includes Agilyx Royalty and Cyclyx OH allocation fee
Downstream offtake partners will fully guarantee APPF's; Cyclyx will manage and control	Anticipate development fee of \$1 -\$2M upfront; Secure guarantee offtake flowing into feedstock sales. Financed by partner or low interest debt
Cyclyx and or Member sponsored Programs designed to flow more plastics away from landfill	9 pilot programs being deployed in 2022. Revenue model to follow with full scale rollout

Retail

Full year financial overview

Planned Investments in FY 2022:

• Support of Agilyx global project pipeline
• Continued buildout of Cyclyx feedstock management infrastructure
• R&D and Tigard lab expansion & improvements

Cashflow:

▪ Sufficient cash to support future business with revenue generation from existing projects

Update on recent progress

• Agilyx booked \$3M of revenue in Q1 2022
• \$4.8M from Toyo to be recognized as revenue over the coming 6 months

	FY 2020	FY 2021
Revenue	4,336,151	4,889,227
Operating Loss	-6,692,040	-15,699,438
Cash Balance	38,898,928	19,570,154

Questions