Ann. 4 Loan financing of MEUR 4 secured and negotiations regarding deep vertical Research and Development cooperation with Vitol initiated.

06 Feb 2023 07:40 CET

Date: February 6, 2023

ISIN: DK0061676400

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Loan financing of MEUR 4 secured and negotiations regarding deep vertical
Research and Development cooperation with Vitol initiated.

WPU - Waste Plastic Upcycling A/S (“WPU” or the “Company”) is pleased to
announce that the dialogue regarding supplementary financing is successfully
completed and inform of the upstart of negotiations regarding a deeper vertical
Research and Development cooperation with Vitol.

Loan financing secured:

Reference is made to announcement no. 2 – 2023 dated January 30, 2023 regarding
financing of strengthening of general safety measures and enhancements to design
technology.
WPU has received and accepted a loan offer (the “Loan”) from its close
commercial partner and shareholder Vitol.

The principal of the Loan equals MEUR 4 and will together with the expanded MDKK
10 Nykredit loan arrangement financially bolster WPU through the commissioning
of the Fårevejle facility until the facility is expected to be cash positive in
Q3 - 2023.

Upstart of negotiations regarding a deeper vertical Research and Development
cooperation with Vitol: WPU welcomes an initiative of Vitol to engage in
negotiations of a deeper vertical research and development of the WPU
proprietary technology. The aim of this is to further broaden the product
palette offered by WPU and enrich the subsequent treatment by Vitol thus
creating more valuable products.

The joint cooperation may include construction of an upcycling facility based on
WPU proprietary technology but financed by Vitol. WPU welcomes this initiative
and looks forward to the negotiations and will update on significant
developments.

Tom Baker, Global Head of Naphtha trading at Vitol comments:

“Meeting the timeline for construction of the Fårevejle Facility is a notable
achievement. Vitol believes that the WPU proprietary process technology will
make a significant impact in the future plastic waste upcycling industry.”

Niels Stielund, Chairman of Waste Plastic Upcycling A/S comments:

“The strength and power of the Vitol - WPU cooperation has once again
demonstrated its value. The WPU technology with its Low CAPEX and High Capacity
is very suitable for fast scaling to match the global presence of Vitol.”


For further information, contact: Klaus H Lindblad, Vice Chairman, Global Head
of IR and Legal, e-mail: KL@WPU-DK.COM.

Important notice: This announcement is not and does not form a part of any offer
to sell, or a solicitation of an offer to purchase, any securities of the
Company. Copies of this announcement are not being made and may not be
distributed or sent into any jurisdiction in which such distribution would be
unlawful or would require registration or other measures. The securities
referred to in this announcement have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), and
accordingly may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements of the Securities
Act and in accordance with applicable U.S. state securities laws. The Company
does not intend to register any part of the offering in the United States or to
conduct a public offering of securities in the United States. Any sale in the
United States of the securities mentioned in this announcement will be made
solely to "qualified institutional buyers" as defined in Rule 144A under the
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and is only directed at qualified investors in that Member State within the
meaning of the Prospectus Regulation, i.e., only to investors who can receive
the offer without an approved prospectus in such EEA Member State. The
expression "Prospectus Regulation" means Regulation (EU) 2017/1129 as amended
(together with any applicable implementing measures in any Member State. This
communication is only being distributed to and is only directed at persons in
the United Kingdom that are (i) investment professionals falling within Article
19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005, as amended (the "Order") or (ii) high net worth entities, and other
persons to whom this announcement may lawfully be communicated, falling within
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to as "relevant persons"). This communication must not be acted on or relied on
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discussed in this announcement may constitute forward-looking statements.
Forward-looking statements are statements that are not historical facts and may
be identified by words such as "believe", "expect", "anticipate", "strategy",
"intends", "estimate", "will", "may", "continue", "should" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believe that these
assumptions were reasonable when made, these assumptions are inherently subject
to significant known and unknown risks, uncertainties, contingencies and other
important factors which are difficult or impossible to predict, and are beyond
their control. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
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Company does not make any guarantee that the assumptions underlying the
forward-looking statements in this announcement are free from errors nor does it
accept any responsibility for the future accuracy of the opinions expressed in
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circumstances that arise in relation to the content of this announcement.
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Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14
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581397_WPU Ann 4 2023 Loan & RD.pdf