Pryme N.V. — Investor Presentation 2021

Apr 13, 2021

Pryme BV - Company Presentation Fearnley Securities - Virtual Chemical Recycling Event 14th April 2021 Boudewijn van Vliet – Executive Director

Pryme BV is an innovative cleantech company focussed on converting plastic waste into valuable products through chemical recycling on an industrial scale. Its efficient and scalable technology is based on the industry-known pyrolysis process that has been further developed and optimized with proprietary characteristics.

The company is currently building its first plant in the port of Rotterdam with an annual hydrocarbon output of 45'000 mt, which is scheduled to start commissioning in Q2 2022.

Pryme's ambition is to contribute to a low carbon, circular plastic economy and to realise the enormous roll out potential of its technology through a combination of owned-operated plants and licencing to strategic partners.

Pryme BV is listed on the Oslo Euronext Growth Exchange.

1. Market Opportunity

2. Scalable Process & Technology

DRAFT

• 3. Yield, Pricing & Capex
• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Chemical recycling will play a key role Market Opportunity

• § Steady growth of ~4-5% p.a.
• § Expected to triple by 2050

• § Currently ~16% collected for recycling
• § Large potential to utilize waste streams that currently goes to landfill and incineration

• § Lower costs and ease of application of pyrolysis technology provide a viable alternative for treating plastics
• § Pyrolysis has the potential to fill a large gap on the plastics disposal-reuse spectrum

Market Opportunity The major players are mobilizing

• 1. Market Opportunity

• 2. Scalable Process & Technology

• 3. Yield, Pricing & Capex

• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Scalable Process & Technology

New approach to existing and proven technology

ü Efficient heating technology

Plastic Waste Wa ter &

residua ls

Hydrocar bons Losses Oil Ga s

8%

Scalable Process & Technology

Proven reactor technology

• § Pryme has opted not to develop its own reactor, but rather make use of existing and proven solutions
• § Choice of reactor and supplier was based on a list of functionalities required to function optimally for plastics pyrolysis
  • Pryme benefits from 80 years of reactor development know-how and a strong patent history
  • Process development and testing performed on pilot plant at the manufacturer site
• § Reactor suitable for pyrolysis under pressure, resulting in increased control over distribution of output (i.e. more C5-C15's). R&D initiated with tests planned for 2H 2021
• § Reactor characteristics and use of additives to optimize the process developed by Pryme in order to overcome specific difficulties such as chlorine and carbonization
• § Similar sized reactors in operation today for related applications
• § Exclusive world wide licence with reactor supplier

• 1. Market Opportunity

• 2. Scalable Process & Technology

• 3. Yield, Pricing & Capex

• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Yield, Pricing & Capex Yield, Pricing and Capex

YIELD : 75% oil yield from waste (on the basis of 85% plastic content of the waste intake & 100% plastic conversion)

• GATE FEE : EUR 50 /mt base case, should improve subject to wider specs
• PRODUCT : The value of the produced carbonhydrate mix is a function of:

[ naphta price -/- cost of treatment to enable further processing +/+ circularity premium +/+ co2 premium ]

Pryme calculations based on EUR 500/mt, conservative compared to competitors

CAPEX : Capex for a typical plant EUR 700 / mt oil output p/a

• 1. Market Opportunity

• 2. Scalable Process & Technology

• 3. Yield, Pricing & Capex

• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Phase I plant located in Rotterdam First Plant & Next Phase

Phase I key figures

• § Intake volume: 60'000 MT p/a
• § Oil yield from waste: 75%
• § Oil production: 45'000 mt p/a
• § Est. annual EBITDA: EUR 15 mio
• § Sales price assumption: EUR 500 / MT
• § Capex: EUR 25m

ü

ü

Start build Q2 2021 – Planned commissioning Q2 2022

• § Location leased from PlantOne
• § The permit for constructing the installation is covered by an umbrella permit connected to the location
• § The lease agreement for the location ends late 2025 with a 5 year renewal option

Engineering, technical review and testing

• § Basic engineering completed by WorleyParsons
• § HAZOP sessions jointly held with WorleyParsons, Engie and PlantOne

EPC in force with Engie

§ Fixed price EPC contract with Engie in place and active

Supply & offtake agreements

• § Feedstock supply agreement (LOI) in place. Suez has committed to supply feedstock at specific terms
• § Strong interest from potential buyers of produced carbonhydrates

First Plant & Next Phase Indicative timeline

First Plant & Next Phase Oil Equivalent Production Phase I & II

Estimated timeline

Phase I

• § Construction start: Q2 2021
• § Commissioning: Q2 2022

Phase II

• § Construction start: 2023
• § Production start: 2024

• 1. Market Opportunity

• 2. Scalable Process & Technology

• 3. Yield, Pricing & Capex

• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Strategic Partners Extensive support from experienced industry partners

O&M support

• 1. Market Opportunity

• 2. Scalable Process & Technology

• 3. Yield, Pricing & Capex

• Title page 4. First Plant & Next Phase
• 5. Strategic Partners
• 6. Team

Pragmatic, experienced and diverse executive team Team

Jos van der Endt Founder & CEO

• § Owner and former MD of VDEL, a world leader in in shell products for animal feed
• § Experienced in sourcing of raw materials
• § Investing in and researching thermal depolymerisation since '08

Rik Van Meirhaeghe CTO

• § Seasoned executive in multitechnical services (SPIE) and (technology) start-ups
• § Experienced in M&A and development of technologybased ventures
• § Governance and funding

Wim Van den Broeck Build Director

Team

• § Senior positions in construction industry, project manager for several complex constructions
• § Prince2 certified, technological expertise in multi-disciplinary environments

Stephan Anzenhofer CFO

• § Previous senior financial executive in (multi) technical industry (SPIE, Volker Rail) and technically oriented start ups
• § Financial Control and Governance

Boudewijn van Vliet Executive Director

• § Entrepreneur with successful background in commodity trading
• § Commercial management and funding

www.pryme-cleantech.com

Important information

This presentation (the "Presentation") has been produced by Pryme B.V. (the "Company" or "Pryme"). This Presentation and any information contained herein or provided at this Presentation are being made available for informational purposes only, and may not be distributed to any other person, reproduced, published or used in whole or in part for any other purpose. If does not constitute, and should not be construed as, any offer or invitation or recommendation to buy or sell any of the securities mentioned or described herein.

No representation, warranty, or undertaking, express or implied, is made to, and no reliance should be placed on any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, the Company accepts no liability whatsoever arising directly or indirectly from the use of this Presentation, or its contents or otherwise arising in connection therewith.

All information in this Presentation is subject to verification, correction, completion and change without notice. In giving this Presentation, the Company undertakes no obligation to provide the recipient with access to any additional information or to update this Presentation or any information or to correct any inaccuracies in any such information.

This Presentation contains several forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", "will", "should", "may", "continue" and similar expressions.

Forward-looking statements include statements regarding objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; profit; margin, return on capital, cost or dividend targets; economic outlook and industry trends; developments of the Company's markets; the impact of regulatory initiatives; and the strength of the Company's competitors.

The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company, are based upon various assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third party sources. Although the Company believes that these assumptions were reasonable when made, the statements provided in this Presentation are solely opinions and forecasts that are uncertain and subject to risks, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

A number of factors can cause actual results to differ significantly from any anticipated development expressed or implied in this Presentation. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved and you are cautioned not to place any undue reliance on any forward-looking statement. The information obtained from third parties has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading.