Q4 RESULTS CONTINUE STRONG COMMERCIAL PROGRESS, AND RESOLUTE PLANT MOVING TOWARDS PERMANENT PERMIT

16 Feb 2023 07:00 CET

OSLO, NORWAY – 16 FEBRUARY 2023 – Circa Group AS (stock symbol: CIRCA) today
announced its fourth quarter results. A webinar will be held at 08.30 CET
(details below).

In January, Circa Group and OQEMA AG signed a supply and capacity reservation
agreement for the sale of several thousand tonnes of Cyrene™ into Europe. This
brings reservation commitments for Cyrene™ volumes to over 5,000 tonnes per
annum, which will be supplied by Circa’s ReSolute™ plant and the following FC6
plant.

To further strengthen Circa’s commercial activities, Nick Smith commenced as
Head of Development and Commercialisation on January 1st. Based in the UK, Nick
brings 25+ years of experience in the global chemical industry, including
expertise in target markets for Circa.

A change to the ReSolute permitting process was announced on 10 February, which
will extend the runway to plant commissioning by approximately six months. All
parties are actively working to make the permitting process as time efficient as
possible, while major vendors find ways to reduce final construction timeframes.


Circa Group AS CEO Tony Duncan said “We are working constructively with the
authorities and our vendors towards the commissioning of ReSolute as quickly as
possible. Our FC5 plant in Tasmania continues to ship substantial quantities of
Cyrene™, which support market development by Merck, OQEMA, Will & Co, and
provide direct customers in Europe, Australia, UK, Japan the US and elsewhere
with the ability to trial Cyrene™ in their industrial processes. Plans and
development activities related to the next stage plant (FC6), remain on track,
with good progress on early-stage optimisation projects with Valmet.”

The company remains well-funded following the EUR 50 million capital raising in
March 2021, further supported by grants from the EU and French Government. No
significant sales are expected prior to commissioning and start-up of the
ReSolute™ plant. Projections indicate a satisfactory financial runway for
financial year 2023.

To access the complete Q4 report: https://circa-group.com/stock-announcements

To join the Q4 results webinar please copy and paste this link into your web
browser:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_ODdlOTMyYzUtYTg3ZS00YzEwL
TgzZjEtOTFkOWNjNTRiYjEy%40thread.v2/0?context=%7b%22Tid%22%3a%227fe83212-6533-49
bf-96c7-1c50525cb252%22%2c%22Oid%22%3a%22b5d8e996-8850-4133-9fce-bf140a9a7209%22
%7d


About Circa
Established in 2006, Circa Group converts sustainable, non-food biomass into
advanced bio-based chemicals with its proprietary Furacell™ process. Its
developing product portfolio includes flavours, biopolymers, and bio-solvents
including Cyrene™. By creating renewable chemicals from cellulose, Circa is
extracting value from non-food biomass and addressing a gap in the market by
providing bio-based, less carbon intensive alternatives, contributing to a more
circular economy.
https://circa-group.com


Investor Contact
Tone Leivestad
Chief Financial Officer
Circa Group AS
tone.leivestad@circa-group.com
Tel: +47 406 39 455

Media Contact
Amanda Keogh
General Manager Marketing and Sustainability
Circa Group AS
Amanda.keogh@circa-group.com
Tel: +61 407 275 126

More information:
Access the news on Oslo Bors NewsWeb site

582585_20230216 Circa Group AS NewsPoint release Q422.pdf
582585_20230216 Circa Group AS Presentation Q422.pdf
582585_20230216 Circa Group AS Financial report Q422.pdf