Cyclyx Names Chris Yandell as Chief Executive Officer

13 Dec 2024 14:30 CET

OSLO, Norway – December 13, 2024 – Agilyx ASA (OSE: AGLX; OTCQX: AGXXF)
(“Agilyx” or “the company”) announces Chris Yandell has been appointed to serve
as chief executive officer of Cyclyx International, LLC, a post-use
plastic-to-feedstock company. The appointment is effective January 1, 2025 and
marks a pivotal moment in Cyclyx’s mission to revolutionize plastic recycling.
Outgoing CEO Joe Vaillancourt is retiring and will serve as a board advisor
throughout 2025, ensuring a seamless transition.

“Joe transformed Cyclyx from a nascent vision to a thriving organization," said
Ranjeet Bhatia, Cyclyx board chair and chief executive officer of Agilyx. "We
are grateful to Joe for the significant milestones Cyclyx has achieved under his
leadership. Moving forward, the board and I are thrilled to welcome Chris as
Cyclyx’s new CEO. Chris’ record of managing high-performing teams and his global
industry expertise make him the right person to lead the company’s next phase of
growth."

Yandell has more than twenty years of leadership experience in the specialty
chemicals industry, with a proven ability to navigate complex domestic and
international markets. He has held significant roles with Albemarle Corporation,
including chief commercial officer for refining catalysts, managing a P&L of $1
billion, and vice president of lithium operations, leading and executing
strategic initiatives across the United States, Chile, Australia, and China.
Throughout his career, Yandell has demonstrated a strong focus on operational
excellence, strategic growth, and delivering results. Most recently, he served
as senior vice president at Compass Minerals International, where he led the
company's lithium business. His leadership experience also spans roles at
Praxair (now Linde) and BASF.

A U.S. Marine Corps veteran, Yandell holds a BS in Chemical Engineering and an
MBA from Louisiana State University. He is also a graduate of the Advanced
Management Program at Harvard Business School.

"I am excited to join Cyclyx and look forward to working with the board and this
accomplished team to lead the organization through this pivotal phase of
transformational growth,” said Yandell. He continued, “My focus will be on
developing the Cyclyx Circularity Centers and advancing the company’s mission to
increase the recyclability of post-use plastic."

Cyclyx will establish a centralized office and state-of-the-art laboratory
capabilities in the Houston area as the organization continues to expand its
facilities and services. The company recently announced a final investment
decision (FID) for a $135 million investment by Agilyx, ExxonMobil, and
LyondellBasell to fund the construction and operations of a second Cyclyx
Circularity Center (CCC2) located in the Dallas-Fort Worth area, with an
expected startup in the second half of 2026. Located in Houston, the first
Cyclyx Circularity Center (CCC1) is slated to open in 2025. Once operational,
the two centers will have a combined capacity to process approximately 600
million pounds (270,000 metric tons) of plastic waste per year to produce
feedstock for customers using mechanical and advanced recycling technologies.

About Agilyx
Agilyx ASA is at the forefront of plastic waste recycling, enabling the
conversion of challenging post-use plastics into high-value, virgin-equivalent
products. Recognizing that availability of high-quality custom feedstock is
critical for scaling recycling processes, Agilyx, through its Cyclyx joint
venture, provides tailored feedstock solutions to global plastic producers. By
advancing from a linear "make-take-waste" model to a sustainable circular
economy, Agilyx supports the transition to a low-carbon future. Our adaptable
approach ensures bespoke solutions, leveraging extensive IP and Cyclyx’s
feedstock expertise to meet diverse customer needs. For more information, visit
Agilyx’s corporate website www.agilyx.com

For investor inquiries contact: investors@agilyx.com

About Cyclyx
Cyclyx International, LLC (“Cyclyx”) is a post-use plastic-to-feedstock
innovation company and joint venture among Agilyx, ExxonMobil, and
LyondellBasell. Cyclyx works across the value chain to develop innovative
solutions for all types of post-use plastics. Using its proprietary technology,
Cyclyx Circularity Centers will provide feedstock for both mechanical and
advanced recycling applications. Cyclyx offers a wide range of programs
including its brokerage service, 10to90® plastic collection programs, and
large-scale feedstock supply.

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