Pryme N.V.

Investor Presentation • Nov 2, 2023

Pioneering plastic circularity Pryme converts plastic waste at unmatched scale.

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Investor Presentation Q3 2023 Report November 2023

Today's presenters

Christopher Hervé CEO - Pryme N.V.

Ferry Lupescu CFO - Pryme N.V.

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.

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.

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Pryme N.V: Quarter 3, 2023 highlights

• HSEQ: One safety incident during an off-site activity, operator has since fully recovered.
• Pryme One mechanically completed in September 2023.
• Both extruders hot tested & Reactor reached targeted 600 °c & 30rpm.
• Corrective actions expected to last 4/6 weeks first oil now estimated January 2024.
• 35FTE headcount Installation manned 24/7 since early October 2023.
• Q3 Operational cash flow (0.7) MEUR Q4 estimated at (2.5) to (3) MEUR.
• Q3 Investment cash flow (2.4) MEUR Estimate to completion (3.5) to (4.5) MEUR.

• Pryme's funding is projected to extend into Q2 2024.

• Organisation primed for growth with CTO, COO, CFO & Industrial Rollout Manager.

• Streamlined experienced technical team troubleshooting issues on the spot.
• Feedstock secured for startup, ramp-up & projected to fully cover installed capacity.
• First liquefied plastic waste delivery to Shell forecasted in Q1 2024.

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.

IMPACT

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

FUNDING

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

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

Cuts emissions from incineration

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: status of commissioning

Extruders & Melt Pipe

Reactor

Status of Extrusion Block

Block consists of 2 distinct extruder units. Both units successfully tested from waste to melt. Densified post-industrial waste was used for testing.

Status of Melt Pipe

Extruders connect to reactor through a melt pipe. R&D works concluded pressure specifications of the melt pipe should be increased.

Corrective Actions

Pipe pressure upgrading: higher rated flanges. Re-certification: hydrotesting, weld audits etc… Testing once hot commissioning of reactor is finalized.

Impact on Commissioning

Pre-existing cold waste feeding system designed for modular reactor commissioning & operations. Operations ensured if further improvements required.

Not on critical path towards first oil.

Status of Electrically Heated Reactor

In & Out (I/O) testing conducted early October. Heating sequence-initiated October 16th . Reactor successfully reached targeted 600°c. Internal rotating shaft at targeted temperature: 30 rpm.

Technical Issues Faced

Reactor was re-design for outdoor operations. Insulation calculations concluded wiring connection. points to heating rings could be enclosed in the insulation panels resulting in overheating during testing.

Corrective Actions

500 heating rings/wiring connectors need to be adjusted. Insulation will be removed. Connectors externalized & re-tested. New insulation re-installed (including connector casings).

Impact on Commissioning

Estimated modification time: 4/6 weeks. After which I/O testing & hot commissioning: 2/3 weeks.

Expect first oil : mid January.

All other commissioning activities & testing were completed smoothly requiring only minor adjustments.

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.

Ash residue from Pryme's Ghent Pilot Plant – mini Pryme In operations since Q1-2023

40k tons plastic waste expected through one reactor

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

✓Pryme focuses on efficiently converting plastic waste into liquefied plastic waste,

✓Upgraders / petrochemicals are demonstrating flexibility on LPW intake

✓Pryme successfully secured, for its first two plants, three LPW sales contracts

✓A fourth LPW sales contract with pre-agreed commercial terms is in draft.

✓Limited competing advanced recycling capacity is projected to emerge.

Shell' liquefied plastic waste to chemicals upgrader shipped to Moerdijk.

Market developments validate Pryme 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 early 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

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