Pryme N.V.

Investor Presentation • Nov 29, 2023

Pioneering plastic circularity

Pryme converts plastic waste at unmatched scale.

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Investor Presentation November 2023

Today's presenter

Christopher Hervé CEO - Pryme N.V.

christopher.herve@pryme-cleantech.com

Important information

This presentation (the "Presentation") has been produced by Pryme N.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.

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Advanced recycling: key to unlock plastic waste circularity

European plastics end-of-life management in 2020 (Mt) **

**Source: Plastic Europe (2020)

production

* 19 million tons per year of plastic waste unrecycled in the EU

0%

20%

40%

60%

80%

100%

Advanced recycling is required to achieve meaningful scale in the circularity of plastic waste while vastly outperforming biobased solutions in mitigating its criticality.

Advanced plastic recycling, a call for action

• Plastic waste: a critical societal issue to be addressed, at par with reduction in carbon emissions.
• Regulation & consumer demand drives the transition from linear to circular plastic packaging.
• Petrochemical players: gearing up through technology investments & downstream capacity build-up.

Pryme aims to enable circular plastic through advanced recycling at industrial scale, reducing waste, emissions & demand for fossil resources.

Pryme secured €69 million in funding, through an IPO on Euronext Oslo, two subsequent private placements, debt financing & subsidies. FUNDING

ACTIONS Pryme has deployed funds raised towards three primary objectives underlying key actions to deliver on its ambitioned IMPACT:

Pryme One: pioneering scale in advanced plastic recycling

Pryme transformed a PowerPoint concept into a near fully-operational petrochemical facility in just over 2 years.

Pryme One: up to 40k tons plastic waste through one reactor

Plastic Waste Melted Plastic Waste

Thermochemical Cracking Liquefied Plastic Waste*

PW bulk reception & storage Densified or fluff PE - PP waste Up to 350 tons storage capacity Unloading & transfer of 1 truck / hour

Industry proven extrusion 5 tons per hour installed capacity Degassing of moisture & volatiles From 20°C to 350°C in 30 seconds

Exclusive reactor technology 5 tons per hour on a single reactor 20 m3 oxygen-free vessel Electrically heated up to 600°C

Two step condensation unit Streamlined & versatile process Non-condensable management LPW batch storage unit

* Pyrolysis oil is commonly referred to as Liquefied Plastic Waste (i.e. LPW)

PRYME'S TECHNOLOGY EDGE:

High-capacity reactor with precision heat controls

Key differentiators

• ✓Delivers up to 7x the capacity of competitor reactors in use.
• ✓Superior core temperatures compared to existing thermal technologies.
• ✓Improved temperature control for optimized thermochemical cracking.
• ✓Yields liquefied plastic waste with increased quality consistency.
• ✓Dry & free flowing ash residue evidencing complete reaction.

Left: Pilot Plant – mini Pryme, in operations since Q1-2023.

Right: Ash residue from mini Pryme.

Pryme One: status of commissioning

Reactor Commissioning per Market Update October 27th, 2023

Factory insulation design with heating rings wiring connectors enclosed inside the reactors insulation panels resulted in overheating during testing above 600°c.

Consequently, 500 heating rings/wiring connectors required modification leading to a 6 weeks delay.

Status of Reactor Corrective Actions per November 28th, 2023

Externalization of 500 heating ring connectors - 100% completed.

Electrical connections between heating rings & cabinets, ~6km of cables - 70% completed. Estimate to completion: Early December 2023.

Individual testing of heating rings above 600 °c Estimate to be completed: Mid December 2023.

Re-insulation & Paneling: estimated to be completed by end of December 2023

Commissioning Timeline - First Oil January 2024

Once modification works are completed, I/O (In & Out Testing) & hot commissioning can be pursued.

Management anticipates first oil will be produced in January 2024 as previously announced.

To date, Pryme' operations team successfully tested both extruders producing melted plastic while the reactor reached a critical milestone heating above 600 °c with internals rotating at 30rpm.

Pryme One: starting up installation attracts ample waste supply

Pryme' technology flexibly handles varied polyolefin & contamination contents.

Pryme starting up has attracted firm interest from established waste processors.

Pryme focused on a pragmatic approach to plastic waste sourcing:

• By integrating into existing waste management supply chains, Pryme eliminated the need for custom investments, ensuring swift availability and consistent supply of feedstock.
• RDF* pelletizing operations are engineered to handle plastic bales from both post-consumer and post-industrial sorting facilities efficiently.
• Process involves shredding, gravity-based separations, ferrous and non-ferrous metal extractions with a final densification step yielding pellets or agglomerates.
• Output meets standard specifications on density & moisture content and is free of hazardous solids that would otherwise damage our installation.
• Final polyolefin content is function of intake bales quality.
• Sufficient baled material meeting our required specifications available in the European market.

Pryme partnering with RDF producers aligns with our IMPACT purpose of diverting plastic waste from incineration while reducing emissions.

* RDF: Refuse-Derived Fuel

Pryme: strong tail winds fueling growth prospects

Market developments validate Pryme's strategic role in pioneering the circular plastic value chain while emphasizing strong demand growth from upgrading facilities for liquefied plastic waste.

Pryme: gearing up for an ambitious rollout

Pryme One will offer valuable insights for our next commercial scale plants

Pryme is actively developing multiple options for its next plant locations

Construction will follow site location permitting & derived learnings from ---- Pryme One

* First production of LPW anticipated in January-24.

Pryme aims to raise up to €12 million in the short term to fund:

• Investments in post start-up process & technology developments
• Ongoing permitting & rollout activities for Pryme Two & Three
  • Fund Pryme into the start of 2025

Pryme: expected plant economics

	Unit	Pryme One	Pryme One	Pryme Two
		2024	At capacity	At capacity
Annual capacity	MT oil	12 000	30 000	90 000
Oil price*	EUR / MT oil	800	800	1 200
All in plastic waste cost	EUR / MT oil	300	300	300
Energy cost	EUR / MT oil	130	130	90
Other plant opex	EUR / MT oil	500	220	150
Plant EBITDA	EUR / MT Oil	( 130)	150	660
Annual plant EBITDA	million EUR	(2)	5	ਟਰੇ
Investment (incl. working cap.)	million EUR	40	40	110
Annual Plant ROI	%		11%	54%
Memo: Annual non-plant related overhead	million EUR	5	5	10

Current market prices, recently signed oil supply agreements, advanced technology and large-scale efficient operations provide for attractive plant economics for Pryme.

Strong investment case backed by measurable circularity impact

• ✓On going commissioning with tangible progress towards first oil in January 2024 ✓Dedicated & committed team of industry veterans pioneering a new value chain ✓Scalable & flexible industrial processes combining existing proven technologies ✓Attractive growth potential through increasing circular plastic demand ✓Regulatory support bolstering the adoption of circularity for plastics ✓Europe's largest advanced recycling plant once operating
• ✓Backed by significant investors: LyondellBasell, Invest NL & Infinity Recycling

Pryme expects to deliver above average returns through large-scale plants by leveraging purpose developed established technology.

Thank you

ir@pryme-cleantech.com www.pryme-cleantech.com