Agilyx Provides Update on GreenDot Closing and Financing

13 Oct 2025 08:45 CEST

OSLO, Norway – October 13th 2025 –Agilyx ASA (OSE: AGLX: OTCQX: AGXXF:
ISIN:NO0010872468: WKN: A2QGQ) ("Agilyx" or the "Company") today provides an
update on the pending completion of its strategic investment in GreenDot Global
S.à.r.l. (“GreenDot”) and related financing arrangements.

Following approval at the Extraordinary General Meeting held on October 3rd
2025, all conditions for the closing of the GreenDot transaction have now been
satisfied. Closing is scheduled for October 14th 2025, at which time and after a
capital increase in GreenDot, Agilyx will own approximately 44% of all issued
shares in GreenDot, a pan-European circular recycling platform for waste plastic
feedstock.

•The total consideration for Agilyx’s investment in GreenDot amounts to €52
million.
•In connection with the transaction, the Company has drawn the €20 million
subordinated loan facility announced July 17th 2025.
•The Company will issue: €32 million in Agilyx ASA shares issued to certain
GreenDot shareholders at a subscription price of NOK 25.76 per share, equivalent
to 14,866,554 shares; €13 million in cash for the acquisition of existing
GreenDot shares; €7 million in cash invested into GreenDot as part of a €27.5m
equity raise by GreenDot remaining shareholders, including Agilyx ASA, Pioneer
Point Partners, and Circular Resources.
•GreenDot is performing well and is on track to meet its 2025 revenue forecast
of €380 million with expected EBITDA of €18.6 million in Germany and €12 million
consolidated.

The existing loan facility ranks subordinated to Agilyx's outstanding green
bonds ("Agilyx ASA 13.50% senior secured USD 50,000,000 bonds 2024/2027") and
will be subject to a subordinated loan agreement entered into with the bond
trustee, as set out in the bond terms.

The Company´s intention is to replace the shareholder loan with other
subordinated debt capital. The Company has also identified certain strategic
measures that could be implemented to materially extend the Company’s cash
runway beyond mid Q1 2026, mainly through cost-reduction initiatives, strategic
partnerships, asset sales or additional subordinated debt.

In September, GreenDot was awarded a 10-year feedstock supply contract from a
third-party advanced recycling facility, representing 20,000-34,000 tons per
annum with an EBITDA contribution of €3-4 million per year from 2028. The
company has also entered into an agreement to purchase a mechanical recycling
facility in Italy, which specializes in bottle-to-bottle recycling and the
production of pipes from recycled material. The transaction is expected to close
by the end of October.

Cyclyx continues to work diligently to develop its first and second Cyclyx
Circularity Centers (CCC1 and CCC2). CCC1 is expected to reach commissioning in
the first half of 2026. Costs up to commissioning will be materially higher than
first anticipated. It is currently not possible to predict with certainty
whether, and if so, in what amount and when, Agilyx may have to contribute. In
any event, it is expected that no payment, if any, would be due before 2026.
CCC2 is in the process of vendor selection and, consistent with previous
communication, is expected to reach completion at the end of 2026.

The 14,866,554 consideration shares to be issued upon completion of the GreenDot
transaction are subject to lock-up until January 10th 2026. The shares will
become listed at Euronext Oslo Børs with the Company's ordinary ISIN following
publication of an exempted document. Such document will not be reviewed or
approved by any regulatory authority and is expected to be published before year
end 2025.

Agilyx CEO Ranjeet Bhatia commented “We are pleased to reach completion on the
GreenDot investment. We have a tremendous opportunity to rapidly build the
leading pan-European plastic recycling platform and are very much looking
forward to working with our new GreenDot colleagues and shareholders to achieve
our goals.”

About Agilyx
Agilyx ASA is a leading global investment platform supporting the development of
plastic waste feedstock supply to the recycling industry. Through its 44% stake
in GreenDot Global, Europe’s largest waste plastic recycling platform,
generating over EUR 400 million in annual revenues, Agilyx gains access to large
volumes of post-use plastic and advanced sorting and recycling infrastructure in
Germany, Austria, and Italy, helping supply critical European-sourced feedstock
to the European advanced recycling markets. Through Cyclyx, its (50%) joint
venture with ExxonMobil (25%) and LyondellBasell (25%), Agilyx supports the
collection and processing of post-use plastic waste into custom-formulated,
high-quality feedstock solutions for global plastic producers. Agilyx markets
Styrenyx, its proprietary advanced recycling technology, to recycle polystyrene
waste into recycled styrene monomers for reuse in new, high-quality products. By
enabling the shift from a linear “make-take-waste” model to a circular economy,
Agilyx helps solve the crisis of plastic waste and supports the global
transition to a low-carbon future.

Inquiries: investors@agilyx.com
Learn more at: www.agilyx.com
For media resources, visit: https://www.agilyx.com/media-room/

More information:
Access the news on Oslo Bors NewsWeb site