QUANTAFUEL Oslo ,22 December 2023 : Reference is made to the announcement on30 March 2023 regarding the term loan facility (as amended, the "Facility") entered into between Quantafuel AS ("Quantafuel " or the "Company") as borrower andPlanets UK Bidco Limited , an affiliate ofViridor Limited ("Viridor "), as "Lender", and the announcement on7 July 2023 regarding the increase of the Facility toNOK 1 billion and extension of the termination date of the Facility. Further reference is made to the announcement on18 October 2023 regarding the amendment of the existing right to settle repayment of the Facility by issuance of new shares inQuantafuel on the termination date of the Facility, to such right being exercisable in whole or in part at any time on or prior to the termination date (the "Conversion Right"). Today, the Lender has notified the Company that the Lender is exercising the Conversion Right forNOK 560,961,945.92 of the loans currently outstanding under the Facility, to be settled by the issuance of 137,154,510 new shares inQuantafuel (the "Conversion Shares"). The price per Conversion Share has been set toNOK 4.09 , equal to the three trading days' volume weighted average price of theQuantafuel share prior exercise of the Conversion Right. For further details about the price per Conversion Share pursuant to the terms of the Facility, please see the Company's announcement on18 October 2023 . The Company will call for an extraordinary general meeting in due course for the purpose of the issuance of the Conversion Shares. As of the date of this announcement,Viridor owns 138,092,536 shares inQuantafuel through its 100% owned subsidiary Harald Norway BidCo AS, representing approx. 83.3% of the Company's share capital. Consequently, following the issuance of the Conversion Shares,Viridor will obtain an ownership of more than 90% of the shares inQuantafuel and is expected to resolve a compulsory acquisition of the remainingQuantafuel shares. Further announcements are expected in due course. For further queries, please contact: Terje U. Eiken, CEO ofQuantafuel , +47 41 65 54 93 / terje.eiken@quantafuel.com *** AboutQuantafuel | https://quantafuel.comQuantafuel is a technology-based energy company converting waste plastics back into low-carbon synthetic oil products replacing virgin oil products.Quantafuel is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants and plans to establish several plants throughoutEurope and beyond. This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Thisstock exchange announcement was published byAstrid Mannion-Gibson , Head ofCommunications of Quantafuel , on22 December 2023 at10.14am CET .
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