Accelerating revenue generation and commercialization

29 Nov 2022 07:00 CET

Agilyx (OSE: AGLX; OTCQX: AGXXF) is pleased to report continued growth as we
apply our unique integrated solution to address the significant challenge of
plastic waste. Unaudited revenue for the first nine months of the year was
$12.7m (9M21: $1.4m), with a positive gross profit contribution in the third
quarter. The significant increase in revenue and improvement in margin has been
driven by Toyo construction revenue and Cyclyx feedstock sales.

Following the oversubscribed $15m capital raise in September, our balance sheet
and cash position are strong and we have begun investing the funds to drive
projects through the final investment decision (FID), in line with our stated
objectives. This includes supporting one large, late stage, polystyrene project
and the full development of a large-scale polystyrene project in Europe.

Throughout the year we have focused on moving projects into development and then
into licensing and construction. We recently announced that Kumho Petrochemical
and Technip Energies (T.EN) have signed an MOU to produce recycled styrene using
our patented conversion technology. This is a significant endorsement of our
technology and the partnership model, and we expect the MOU to convert into a
license.

In total three further projects have been announced so far this year. The
pipeline continues to strengthen with near term focus on driving projects into
licensing and construction. We have a clear line of sight on two further
licenses over the next few months, with subsequent construction revenue
expected. Construction on our project in Japan continues in line with
expectations and we recently delivered the final detailed design.

Engagement in Cyclyx continues to grow and our Houston collection pilot began
last weekend in the community of Kingwood. This program is unique, allowing the
public to drop off recycling bags of mixed waste plastic, rather than single
types of plastic collected today. Cyclyx will analyze the plastic mix and
contamination levels in order to inform the planning for the first Cyclyx
Circularity Center (CCC).

In October we signed an agreement with ExxonMobil and LyondellBasell to develop
the first CCC in Houston, a first-of-its-kind plastic waste sorting and
processing facility. These unique facilities take all plastic waste, sorting it
and compounding the feedstock to customer specifications, whilst also addressing
a critical missing link in the plastic waste supply chain by connecting
community recycling programs with advanced recycling.
Tim Stedman, Agilyx CEO said: “I am pleased that we are continuing to deliver
against our objectives, getting projects moving through the pipeline and
demonstrating the quality of our technology. We have built a strong balance
sheet and cash position, whilst successfully up-listing on the main Oslo Bors
exchange. As we look ahead, I am excited by the enormous opportunity we see to
accelerate our growth and help solve the global challenge of plastic waste.”

Future reporting dates
Full year 2022 results will be reported on 25 April 2023.

Conference call
A presentation (in English) will be held for analysts and investors today at
10:00am (CET) at Carnegie AS, Fjordalleen 16, 5th Floor 0250, Oslo.

The event will be webcast with viewers able to submit written questions.
Live webcast link:
https://channel.royalcast.com/landingpage/hegnarmedia/20221129_1/

A recording of the presentation will be available after the event on our website
at www.agilyx.com/investors/reports-presentations/.

Enquiries

Louise Bryant, SVP Investor Relations & Sustainability
+44 7813 210 809
Louise.bryant@agilyx.com

Kate Ringier, VP Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com

Notes to editors
Agilyx ASA is a technology company that enables customers to recycle
difficult-to-recycle post-use plastics to high value, virgin-equivalent
products. With a focus on diversion and conversion of plastic waste, Agilyx is
uniquely positioned with a molecular recycling technology offering and an
integrated feedstock solution by way of Cyclyx, an innovative feedstock
management consortium of partners that drives up global plastic recycling rates
by chemically fingerprinting plastic waste and matching it to appropriate
recycling processes. Agilyx was the first to establish a commercial scale closed
loop plastic-to-plastic chemical recycling facility and holds over 17 patents.
Agilyx conversion technology utilizes pyrolysis without a catalyst and can
convert mixed waste plastic to naphtha and fuels or depolymerize specific
plastics such as polystyrene and PMMA (acrylic) back into virgin-quality
products. Learn more at www.agilyx.com.

More information:
Access the news on Oslo Bors NewsWeb site

576870_3Q22 Trading update FINAL.pdf
576870_3Q22 Presentation FINAL.pdf