Cambi ASA

Business and Financial Review • Jul 6, 2023

Cambi ASA

Skysstasjon 11A PO Box 78 1371 Asker Norway

+47 66 77 98 00 office@cambi.com www.cambi.com

For Immediate Release

Veas and Cambi enter a milestone THP contract at Norway's largest wastewater treatment plant

Asker, Norway, 6 July 2023

Reference is made to the stock exchange notice from Cambi on 1 March 2022 regarding a tender award in Veas' best value procurement process for a sludge hygienisation and dewatering solution.

Since the award, Cambi and Veas have designed a modern and energy-efficient facility using the thermal hydrolysis process (THP) and identified ways to optimise the project, defining an execution schedule and budget. Following the successful completion of the collaboration phase, the parties have now entered a project execution contract.

The planned THP solution will increase renewable energy production, enhance nutrient recovery and reduce treatment costs, making the most of Veas' existing anaerobic digestion capacity. With thermal hydrolysis being compatible with a wide range of biosolids regulations, it will provide Veas with reliable performance and flexibility for compliance and sustainability in the coming decades.

Ragnhild Borchgrevink, Veas CEO, commented: "Veas is pleased to collaborate with Cambi for this project and look forward to bringing this innovative facility online. Once in operation, the THP from Cambi will help strengthen Veas' role in the local circular economy in an affordable manner and improve the environment, contributing to a healthier Oslo Fjord and bringing us closer to carbon neutrality."

Cambi CEO Eirik Fadnes remarked, "The Veas project is a milestone achievement for our team. Following successful deliveries in 25 countries, our sludge treatment technology will finally be used on our home turf, including our headquarters in Asker. This large contract has the potential to become a landmark reference for Cambi, and we look forward to close continued collaboration with Veas in the years to come."

Operations utilising THP are scheduled to start in early 2026.

For more information, please contact: Eirik Fadnes, CEO, +47 907 20 014, eirik.fadnes@cambi.com

Note on contract value:

Category	Small	Medium	Large	Major
NOK million	15-50	50-100	100-200	>200
Contract value			X

About Cambi:

Cambi is a global biogas technology and solutions supplier for wastewater treatment plants and anaerobic digestion facilities. Since 1992, Cambi has retained market leadership through continuous innovation and a robust portfolio of proven and patented technologies. With strong project delivery and customer support capabilities, the company has delivered many well-performing installations in 25 countries on six continents.

Cambi's thermal hydrolysis process increases renewable energy output, reduces operational costs, and minimises greenhouse gas emissions. It is suitable for all biosolids outlets, including land application and thermal processes such as drying, pyrolysis, and incineration. Thermal hydrolysis is compatible with all sludge and waste treatment regulations and easy to integrate at new and existing anaerobic digestion sites.

Cambi is listed on Euronext Growth Oslo, a multilateral trading facility part of Euronext, Europe's largest stock exchange platform. Find out more at cambi.com.