Reference is made to the stock exchange notice made by Quantafuel AS (the
"Company") on 18 January 2024 regarding the completion of an extraordinary
general meeting in the Company (the "EGM"). The general meeting resolved to
increase the share capital by issuance of new shares to Planets UK Bidco Limited
("Planets UK"). The issuance of new shares shall act as settlement of the
Company's commitments under the Facility, as defined in the Company's stock
exchange notice on 22 December 2023.

Following the transaction, Planets UK will, indirectly or directly, be the owner
of 275,247,046 shares, equal to approx. 90.85% of the Company's share capital.
Consequently, Planets UK is in the position to resolve a compulsory acquisition
of the remaining shares in the Company pursuant to the Norwegian Private Limited
Liability Companies Act section 4-26. 

The new share capital and number of shares have been registered with the
Norwegian Registrar of Business Enterprises. 

Share capital: NOK 3,029,830.23
Number of shares: 302,983,023
Par value of each share: 0.01

For further queries, please contact: 

Terje U. Eiken, CEO of Quantafuel, +47 41 65 54 93 / terje.eiken@quantafuel.com

*** 

About Quantafuel | https://quantafuel.com

Quantafuel 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 throughout Europe and beyond. 

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and the Euronext Growth Rule Book
part II.