WPU - Waste Plastic Upcycling A/S ("WPU") With reference to announcement 21 dated July 5th, the Faarevejle reactor lines 2 and 3 have now undergone numerous cold and hot tests, along with initial upcycling test cycles, being able to produce plastic to liquid successfully. Both lines are now entering a group of test cycles together with line no. 1, which means the entire Train 1 (lines 1+2+3) will now start testing together on the common production infrastructure.

FACTS about the WPU Faarevejle facility: The Faarevejle facility is based on the WPU Batch technology - an advanced chemical upcycling technology which converts end-of-life plastic waste to upcycled plastic oil liquid (PtL) that can be used for example to produce new plastic (PtP), The facility is the first commercial scale WPU facility. The construction and installation of equipment was done in one year., The Facility is based on six reactor line with the initial capacity to upcycle a total of approx. 42,000 tons (92,000,000 US pounds) of plastic waste per year., The upcycling process is materially energy self-sufficient as reactor gas (syngas) from production is utilized to heat the reactors., CAPEX for the construction of the facility was EURm 14 (EUR 333 pr.

metric ton capacity). Once operational at full capacity the Faarevejle facility will generate a yearly EBITDA of EUR 15., The facility is expected to be cash positive from third quarter and fully operational by fourth quarter-2023.