Quantafuel

Investor Presentation • Mar 2, 2022

SpareBank 1 Markets Energy Conference

QUANTAFUEL ASA

2 March 2022

DISCLAIMER - IMPORTANT NOTICE

THIS DOCUMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSSESSIONS, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR TO ANY RESIDENT THEREOF, OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. THIS DOCUMENT IS NOT AN OFFER OR AN INVITATION TO BUY OR SELL SECURITIES.

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").

This Company Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction, and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity. This Company Presentation does not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on the Company, its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made.

This Company Presentation is furnished by the Company, and it is expressly noted that no representation or warranty, express or implied, as to the accuracy or completeness of any information included herein is given by the Company. The contents of this Company Presentation are not to be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice. Generally, any investment in the Company should be considered as a high-risk investment.

This Company Presentation is current as of the date of presentation. Neither the delivery of this Company Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. This Company Presentation may contain 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", and similar expressions. Any forward-looking statements contained in this Company Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company provides no assurance that the assumptions underlying such forward-looking statements are free from errors and does not accept any responsibility for the future accuracy of the opinions expressed in this Company Presentation or the actual occurrence of the forecasted developments.

The distribution of this Company Presentation by the Company in certain jurisdictions is restricted by law. Accordingly, this Company Presentation may not be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. This Company Presentation does not constitute an offer of, or an invitation to purchase, any securities.

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.

TURNING PLASTIC WASTE PROBLEM INTO BUSINESS

Attractive economics and supportive opinion drives change towards recycling

370mill

Tonnes of plastic produced yearly

86%

Of plastic packaging is not recycled

>8mill

Tonnes of plastic ends up in the ocean every year

50% / 55%

EU plastic recycling target 2025 / 2030

QUANTAFUEL HAS A STRONG ESG PROFILE

The sustainability case for plastics waste recycling

Environmental Social Governance

• Provides a solution to the growing plastic problem as it recycles the waste into high quality products
• Creates a circular economy for plastic
• Chemical recycling of plastic waste reduces the carbon footprint by > 50%
• Increases resource efficiency

• Reduces the need for long-distance transport of waste

• Strict operational procedures and HSEQ management systems based on ISO standards for the Skive plant

• No major reported HSE incidents to date, including both subsidiaries and contractors

• No family relationships among the board members or between board members and management

• Limited arrangements with major shareholders, customers and suppliers, pursuant to which members of the board/management were selected. However, Board representation from largest shareholders-

4

• One share with one voting policy gives all shareholders a say proportionally to their respective ownership

UN's sustainable development goals

The more plastic waste Quantafuel can process, the more barrels of oil and gas will be left in the ground

Builds sustainable industry based on resource-efficient use of local wastebased resources

Creates green jobs in production facilities designed to meet the highest sustainability standards

Contributes to a circular efficient use of resources by rescuing plastic waste from its final stop at the incineration plant

Plastic is expected to drive oil demand in the coming decades, in a context where the world has committed to decarbonize

QUANTAFUEL ENABLES A CIRCULAR PLASTIC ECONOMY

Chemical recycling complements traditional mechanical recycling

INTERNATIONAL ROLL-OUT STRATEGY

Secure enough upstream integration to understand waste flow, pricing and commercial market opportunities

Scalability and driving economy of scale through optimised, standardised and modulized processing plants

Deliver traceability through credible end-to-end certificates of source and product

PIPELINE PROJECTS

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

A PIONEER WITHIN CHEMICAL RECYCLING

Integrating upstream – chemical recycling remains main focus

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

THIS WILL BECOME A MULTI-BILLION DOLLAR INDUSTRY

Quantafuel aims to become the market leader

Quantafuel ASA

Ticker: QFUEL Euronext Growth Oslo

www.quantafuel.com IR@quantafuel.com