Agilyx — Investor Presentation 2022

Feb 2, 2022

Pareto Securities' Power & Renewable Energy Conference

February 3, 2022

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75% / 25% 50% / 50%

Corporate Structure and Key Activities

Agilyx Overview and History

Feedstock as a service

• New waste plastic supply chains
• Consortium approach
• Custom feedstock supply for all conversion technologies; serving the whole industry
• Royalty revenue model

Conversion Technology Solutions

• Conversion technology licensing
• Specialized core equipment sales
• Capital light model vs. Build Own Operate
• Robust feedstock capablity
• Not dependent on specific legislation

Feedstock to Product

Licenses/ Projects to Construction

The Company

Unique Integrated Solution for Plastic Waste

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Recent Events

Jun	Jul	Aug	Sep	Oct	Nov	Dec
Agilyx and Technip join forces to develop an integrated solution for waste PS back to pure product. Companies will work together to drive adoption opening up entire new customer base	Announces capability to recycle flame-retardant laden foams opening up significant feedstock opportunity for PS recycling Announces completion of LCA; by Styrenics Circular Solutions with Agilyx support: 75% CO2	Announcement of new CCO joining from Dow Chemical New Polystyrene recycling unit in South Korea. Opening up new downstream markets such as high performance tires	Reynolds joins Cyclyx as a member Casella joins Cyclyx as a member Millipore (Merck) joins Cyclyx as a member Sonoco joins Cyclyx as a member	Cyclyx reinforces 2025/2026 targets with Exxon announcement of Advanced Recycling in Baytown (US)	Corning joins Cyclyx as a member Regenyx JV fully converted to operate with renewable electricity	Cyclyx announces first of a kind Plastics Recovery Facility (US) Completed full scale trials to recycle acrylic; opens up larger new market Agilyx commences trading on OTC QX	Jan construction member member
	emission reduction Chemical recycling of waste back to food applications: yogurt pots	Ineos Styrolution joins Cyclyx as a member LyondellBasell joins Cyclyx as a member Chevron Phillips Chem joins Cyclyx as a member	Patent expansion to cover all waste plastics
	Milestone of more than 16,000 hours of operation at commercial

rates in Portland, Oregon

Cyclyx reinforces 2025/2026 targets with Exxon announcement of Advanced Recycling in Baytown (US) Corning joins Cyclyx as a member Regenyx JV fully converted to operate with renewable electricity Cyclyx announces first of a kind Plastics Recovery Facility (US) Completed full scale trials to recycle acrylic; opens up larger new market Agilyx commences trading on OTC QX Toyo Styrene moves into construction Dow joins Cyclyx as a member Sabic joins Cyclyx as a member

Agilyx: Entering Phase of Rapid Growth

2022-2030

2004-2020	2020-2021	2022-2030
Technology Development	Early Commercialisation	Growth
7 Generations of Technology Development • Electrically heated, non-catalytic system able to process the most challenging waste and use renewable energy • Strong IP backbone (17th patent granted)	16,000 hours operation at commercial rates in Portland (Oregon), across both mixed waste plastic and polystyrene Projects moving into Development:	Projects into Development • Expansion of global pipeline funding of units
Mixed waste plastic chemical recycling proven to Agilyx Synthetic Crude Oil • Suitable for refinery and chemical plants •	• 50% increase in business development pipeline in the past 12 months • Mixed Waste Plastics projects with Braskem and A.Eon	Projects into Construction
TSCA(*) registration granted Polystyrene waste chemical recycling proven • Licenses sold to Toyo Styrene and AmSty • Regenyx JV with AmSty established and producing Styrene Oil from waste PS • Regenyx awarded ISCC+ Developed largest chemical database of waste plastic	Technology Developments and Partnerships • Technology partnership with Technip delivering first ever integrated waste to pure styrene solution • Expanding capablity to use the most challenging waste e.g. flame retardant foamed • Alliance with NextChem developed to accelerate growth via EPC partnering • Partnering with Mitsubishi on PMMA (acrylic) chemical recycling	supporting growth

Agilyx: Rapid Expansion in Business Development Pipeline

Pipeline Well Positioned to Deliver on Targets

Licenses/ Projects to Construction

Projects moving to Development

• Total Potential Capacity ~ 2300 Tons Per Day total potential (increase of ~50% in past 12 months)
• Global projects: spread across 19 countries and 5 continents
• Significant new opportunities in Mixed Waste Plastic

Cyclyx: Rapid Development through First Year of JV - Poised for Growth Phase

Development: 2017-2020

Chemical Characterization:

• Integrated Agilyx chemical fingerprinting; further expanded database
• Development of models/AI tools; relationship with GE as AI developer

Custom Supply Chains:

• Developed IT backbone e.g. chain of custody tracking
• Developed approach for recyclable content certification
• Experimented with new sourcing and contracting strategies
• Developed direct sourcing capability >1,000 customers
• Developed novel logistics programs with supply chain partners
• Developed hub and spoke logistics and processing capabilities in US
• Supplied feedstock for over 16,000 hours of operation in Portland, OR

Consortium Approach:

• Developed Consortium business model approach
• Engagement with ExxonMobil resulting in the formation of JV

Early Commercialization:

Chemical Characterization:

• First lab (Portland, OR) Certified with expanded testing capabilities
• Second lab under development (Portsmouth, NH)
• 1,000+ feedstock characterizations in 2021 added to existing database
• Over 800 additional sources qualified
• Feedstock assessments in 12 countries

Custom Supply Chains:

• International ISCC+ feedstock certification achieved
• Delivering feedstock to 4 companies, evaluating specifications for 6 others
• First custom PRF in USGC (60 kta) under development
• Development of closed loop commercial and industrial takeback programs

Consortium Approach:

• Launched Cyclyx JV with ExxonMobil; Jan 2021

Membership Development

Cyclyx: Consortium Growing - More Global Chemical Companies Joining

Supply Partnerships

Offtake Partnerships

Current Members:

Cyclyx: Plastics Recovery Facility

• New infrastructure needed to process feedstock for advanced recycling needs
• Custom-designed and operated for downstream offtakers' targeted product/s and feedstock specifications
• Standard target sizes: 40 120 Thousand Tons per Year (kta) output
• Third Party financed: Underwritten through customer guarantees and or take or pay offtake agreements
• Sourcing strategies focus on customer feedstock specifications
• Development strategy includes custom greenfield development and to acquire existing facilities and retrofitting them to customers needs
• Cyclyx will own designs of customer PRF's
• Facilities will be operated by strategic partners in waste and recycling

Custom Processing of waste

Cyclyx: Forecast Demand from Existing Customers & Upgraded 2025/26 Targets

Waste to Feedstock

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

Partnerships

Custom Processing of waste

Partnerships

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

The Company: 2022 Goals

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

Unique Integrated Solution for Plastic Waste

SERVICES

• Revenue of USD 33-50 million per 100 tons per day plant
• ½ construction phase
• ½ royalties
• 25-50 % EBITDA (*)
• Solid sales pipeline, >9 announced project
• One new project per quarter

PER PLANT

• 1 new project into development per quarter
• 2025/2026 target of \$200-300 million

Revenue streams; per ton, per plant and services