Pryme N.V. has produced 30 metric tons of Pyrolysis Oil                       
Rotterdam, 25 April 2024

In April of 2024, Pryme initiated commercial production. This followed the
production of first oil in January of 2024 and the initial successful complete
process production in February 2024. After a few short calibration batches in
early April, Pryme completed two continuous production periods this week,
lasting 4 and 8 hours, respectively, in which more than 25 tons of plastic waste
were converted into 20 metric tons of pyrolysis oil. The produced oil was
transferred to storage and is now ready for shipment. In total, Pryme has
produced an estimated 30 metric tons of oil.

These continuous production rounds have confirmed the initial observations of
the commissioning phase, namely:
(i)	a smooth flow of feedstock into the extruder, 
(ii)	normal operating pressures of melted plastic through the melt pipe, and 
(iii)	Pryme's electrically heated reactor yielding residence times well below
initial estimates. 

The absence of polyolefins in the residual ash and wax formations in the
subsequent condensation steps have also been confirmed, the combination of which
confirming the complete chemical cracking process of the melted plastic waste
entering the reactor.

Following customary formal regulatory approvals, we expect to ship product to
our first customer in May. Based on the progress to date, management expects to
produce at least 500 metric tons of pyrolysis oil in Q2-2024.

"The last few weeks have been, as one would expect, emotional as Pryme gradually
ramps up the production at Europe's largest advanced recycling plant in
operation. Through these first continuous production periods, we have safely
tested our installation at over 50% of the nameplate capacity over the course of
multiple hours. The data that we have collected is critical in identifying the
next steps required to further optimize production and ultimately reach full
utilization rates", said Karel Kraanen, Production Manager at Pryme One.

About Pryme | www.pryme-cleantech.com 

Pryme N.V. is an innovative cleantech company focused on converting plastic
waste into pyrolysis oil through chemical recycling on an industrial scale. Its
efficient and scalable technology is based on a proven process that has been
further developed and enhanced with proprietary characteristics.

The company has initialized production at its first plant in the port of
Rotterdam, with an expected nameplate intake capacity of about 40,000 tons of
plastic waste annually.

Pryme's ambition is to contribute to a low-carbon circular plastic economy and
to realize the large rollout potential of its technology through the development
of a broad portfolio of owned-operated plants with strategic partners.

The company is listed on Euronext Oslo Growth market.

Pryme can be followed on LinkedIn.