Ecoslops announces the success of its fundraising for an amount of €6.4 million

PRESS RELEASE

Ecoslops announces the success of its fundraising

for an amount of €6.4 million

Paris, 29 October 2021, 8:55 am

Ecoslops (Euronext Growth - ALESA - FR0011490648), the cleantech that brings oil into the circular economy, is pleased to announce the result of the two capital increases launched on 28 October 2021, with removal of the shareholders' preferential subscription right and without a priority period, of an overall gross amount of €6.4 million (the "Transaction").

Vincent Favier, Chairman and CEO of Ecoslops: "We warmly thank our investors, former shareholders and new shareholders for the trust they have placed in us. This fund raising is intended to accelerate the company's development, particularly Scarabox®. This turnkey solution is Ecoslops' latest innovation, meeting the needs of a vast number of emerging countries and requiring adequate dedicated commercial and technical resources. This funding will also make it possible to continue ongoing P2R developments, particularly in regions in South-EastAsia, in Singapore. Through these two activities, Ecoslops is contributing to the low-carbonproduction of energy products from the circular economy."

Use of Proceeds from the Transaction

The Company plans to use proceeds from the Transaction to finance roll-out of the Scarabox® offer, a local circular economy solution enabling sustainable recycling of used motor oils and hydrocarbon residues to convert them into high quality fuels, namely through investments in R&D, human resources and minority shareholdings in projects.

Proceeds from the Transaction will also be used to fund studies of port infrastructure projects for the collection and recycling of hydrocarbon residues that could be deployed in the Middle East and South-East Asia regions under the partnership with Mercuria Energy Group announced on 19 October.

Key terms and conditions of the Transaction

The Transaction consists of (i) a public offer in the form of a private placement aimed at institutional investors based in France and in certain countries outside France, specifically the United States, Japan, Canada and Australia, for a total amount (including issue premium) of €5.7, via the issue of 639,494 new shares (the "Private Placement") and (ii) a public offer, aimed primarily at private individuals via the PrimaryBid platform, for a total amount (including issue premium) of €0.7, via the issue of 80,000 new shares (the "PrimaryBid Offer"). This is the first operation of its kind in France, with a PrimaryBid offer intended mainly for private individuals, which has also been oversubscribed.

The capital increase relating to the PrimaryBid offer and the capital increase relating to the private placement (together, the "Capital increases") are conducted respectively under the 11th and 12th resolutions of the Company's General Meeting dated 11 June 2020.

The subscription price of the new shares under the Transaction was set by decision of the Chairman and Chief Executive Officer on 29 October at €8.84 per new share, representing a discount of 10% compared to the volume-weighted average price (VWAP) over the last three trading sessions prior to the launch of the Transaction (i.e. €9.81).

The 719,494 new shares will account for 16.20% of the Company's share capital before the Transaction and 13.94% of the Company's share capital after the Transaction.

Settlement/delivery is scheduled for 2 November 2021, subject to compliance with certain standard conditions. The new shares will be subject to all statutory provisions and will be equivalent to existing shares. A request for admission to trading on Euronext Growth for these shares will be made under the same listing.

The impact of the Transaction on (i) the investment of a shareholder holding 1% of the share capital and (ii) the proportion of the Company's consolidated shareholders' equity per share (calculated on the basis of the Company's shareholders' equity at 30 June 2021 (in each case calculated on a non- diluted and diluted basis, i.e. taking into account the issue of a maximum of 70,240 new shares) is as follows:

	Shareholder investment	Proportion of
		consolidated equity per
		share
Before the issue of 699 494 new	1.00%	€3.10
shares
After the issue of 699 494 new shares	0.86%	€3.90
(undiluted basis)
After issue of 699 494 new shares as	0.85%	€3.84
well as 70 240 new shares from
outstanding dilutive instruments
(diluted basis)

Distribution of the Company's capital

The table below reflects share ownership to the best of the Company's knowledge.

	Before the Transaction	After the Transaction
	As a % of capital	As a % of capital
J4A Holdings	12.7%	10.9 %
Gemmes Venture	9.2%	8.0 %
Bluebird Investment	5.4%	4.7 %

Soprema	5.0%	4.3 %
Caisse des Dépôts et Consignations	4.5%	3.9 %
Vincent Favier	4.4%	3.8 %
Tikehau Capital	4.3%	8.1 %
Floating	54.5%	56.4 %
Total	100.0 %	100.0 %

Tikehau Capital, which held 191,828 shares prior to the Transaction, representing 4.3% of the Company's share capital, subscribed to 266,244 shares as part of the Transaction.

Commitments to refrain

The Company has made a holding commitment for a period ending 180 calendar days after the settlement/delivery date of the Capital Increases, subject to certain standard exceptions.

Financial intermediaries

Under the Private Placement, Portzamparc (BNP Paribas Group) acts as the only Global Coordinator and Bookkeeper. The Private Placement is not the subject of a guarantee contract.

Under the PrimaryBid Offer, investors subscribed to the new shares via the PrimaryBid partners mentioned on the PrimaryBid website (www.PrimaryBid.fr). The PrimaryBid Offer was not covered by a guarantee agreement.

Public information

A prospectus will not be prepared for the Transaction and submitted for approval to the Autorité des Marchés Financiers (AMF).

The risk factors that may have a significant impact on Ecoslops' business are set out in section 16 of the management report on the corporate accounts and the consolidated financial statements for 2020, which can be found on the Ecoslops website (www.ecoslops.com).

The main risk factors associated with the issue are as follows:

• The market price of the Company's shares may fluctuate and fall below the subscription price of the new shares;
• As a result of stock market fluctuations, the volatility and liquidity of the Company's shares may vary significantly;
• The Company has not paid dividends for the past three years.

ABOUT ECOSLOPS

Ecoslops is listed on Euronext Growth in Paris

ISIN code: FR0011490648 - Stock code: ALESA/eligible for the PEA-PME, and FCPI schemes

Investor Relations Contact:[e-mail][phone]

Ecoslops is ushering oil into the circular economy thanks to innovative technology that produces fuel and light bitumen from oil residues. The Ecoslops solution is based on a unique industrial process that micro-refines these residues and transforms them into commercial products that meet international standards. Ecoslops is bringing a more cost-effective, environmentally friendly solution to port infrastructures, waste collectors and shipowners.

www.ecoslops.com