Quantafuel — Investor Presentation 2022

Sep 15, 2022

Pareto Securities' 29th annual Energy Conference QUANTAFUEL ASA

15 September 2022

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This presentation (the "Company Presentation") has been prepared by Quantafuel ASA, reg. no. 915 119 484 (the "Company", and together with its consolidated subsidiaries, the "Group").

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IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS BEING FURNISHED ONLY TO INVESTORS THAT ARE "QIBs", AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"). THE SHARES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER U.S. SECURITIES ACT OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, EXCEPT PURSUANT TO AN APPLICABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS.

This Company Presentation is subject to Norwegian law, and any dispute arising in respect of this Company Presentation is subject to the exclusive jurisdiction of Norwegian courts with Oslo District Court as first venue.

QUANTAFUEL – A LEADING RECYCLER OF PLASTIC WASTE

• A technology-based recycling company converting plastic waste back into low-carbon synthetic oil products replacing fossil oil feedstock
• Has one recycling plant in Denmark, one in Norway, and targets to build a number of facilities across Europe and beyond
• Around 100 employees with headquarters in Oslo, Norway
• Listed on Euronext Growth with solid liquidity
• In collaboration with dedicated partners, Quantafuel works to achieve the dual goals of recycling low-quality plastic and sustainable waste management

LAUNCHING QUANTAFUEL MK II – THE ROLL-OUT BEGINS!

• We are ready to fulfil the Quantafuel vision and embark on a large-scale global roll-out
• Skive has served its main purpose the knowledge gained is the core IP of Quantafuel
• BASF joins us and DUBAL Holding in Dubai development – FEED ongoing
• SAIPEM, the preferred EPC contractor, adds licencing of Quantafuel Mk II PtL plants to our business model

WAY FORWARD

Launching the Quantafuel Generation 2 (Mk II) process

• Incorporating the learnings from operating Skive into Generation 2 (Mk II)
• Key changes vs Skive
  • Simplification
  • Redundancy
  • Operability
• Close co-operation with our partners
• Mk II basis for
  • Build, own & operate
  • Licensing model with Saipem
• FEED Dubai based on Mk II

DUBAI PROJECT TAKES POLE POSITION IN PORTFOLIO

Circular economy for waste plastics a reality at scale

• Start of FEED in Dubai with DUBAL Holding and BASF
• Capacity of 80,000t annually
• FID targeted for early 2023
• First materialisation of Mk II on actual plot
• Blueprint for future PtL plants in our portfolio

SUNDERLAND PROJECT PROCEEDING AS PLANNED

Quantafuel continues to receive strong support

• Planning Application submitted
• Site lease option signed
• Feedstock discussions extremely encouraging
• Initial discussions regarding EPC contractor
• Interest from financing partners
  • Targeting individual developments without industry partner

PROJECT PIPELINE

Significant upside from acting now – clear first mover advantage for Quantafuel

QUANTAFUEL JOINS FORCES WITH SAIPEM

Top ten engineering major adopts Quantafuel technology for roll-out

• Saipem to globally market PtL plants under Quantafuel's technology license
• Agreement adds licensing model to Quantafuel's approach
  • Removing capacity limitations
  • Removing geographical limitations
• Project implementation capabilities strengthened
  • Joint performance guarantees for the plant
• Agreement is non-exclusive for both partners

• Skive is the foundation of our Mk II plants
• Three lines operational, fourth line ready this quarter
• Ongoing turnaround to replace natural gas with selfproduced gas
• High focus on testing feedstock
• Confident in exiting 2022 with cash positive operation from Skive

ESBJERG

Becoming a market leader in an attractive part of the value chain

• Successful financing process resulting in a 50/50 JV with Eurazeo committing EUR 40 million to the project
• Project is progressing well as construction has started
• Commissioning late 2023
• A game-changer for the post-consumer plastic waste market in Denmark and a key advantage for the co-located large-scale PtL plant

State-of-the art sorting plant and PtL plant

Large-scale sorting plant using proven & commercially available technology

Significant contributor to the

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sustainable manner

Taking control of the early value stream for plastic recycling in Denmark in a

A PIONEER WITHIN CHEMICAL RECYCLING

Integrating upstream – chemical recycling remains main focus

Differentiators	Plant economics
	CAPEX	Average Plastic in	Products
1 Production
Continuous process 2 (energy efficient)	USD 100-150 million	100,000 MT	80,000 MT
Upstream 3 integration	Gatefee/offtake delta	OPEX per ton	EBITDA per annum
4 Build, Own, Operate	USD 1,000	< USD 350	USD 50 million
5 Licensing by Saipem

LAUNCHING QUANTAFUEL MK II – THE ROLL-OUT BEGINS!

Questions & Answers

www.quantafuel.com IR@quantafuel.com