Date: September 06, 2023
Announcement no: 27
ISIN: DK0061676400

WPU Ann 27 2023. Purchase of shares, extension of scope of offtake agreement and
partial financing for the new facility in Nakskov - successfully completed

On July 31, 2023 (announcement no. 23) WPU - Waste Plastic Upcycling A/S (WPU)
announced that WPU, certain shareholders and Vitol had entered into certain
conditional agreements according to which 

a ) Vitol would strengthen their equity interest by acquisition of additional
7,668,712 WPU shares ( Shares) from existing shareholders,	

b) The selling shareholders would provide first tranche of the funding for the
future production facility in Nakskov, 	

c) Extension of the offtake agreement and inclusion of production from the
additional facilities, sold to Vitol. 

Accordingly Vitol has acquired the Shares from existing shareholders, increasing
its shareholding from approximately 9.4% to 24.7%.

The transaction price is NOK 50.00 per share, resulting in a total transaction
value of approximately NOK 383,435,583 or DKK 250,000,000. 

As part of the agreement, Vitol will join the board of directors, leading WPU to
publish a call for an extraordinary general meeting. 

Furthermore, the first tranche of financing for the new production facility in
Nakskov has been secured through a subordinated shareholder loan to WPUs
subsidiary, Produktionsselskabet WPU Nakskov ApS. 

Securing the initial part of the financing will facilitate the detailed planning
and construction of the new Nakskov Facility. Once operating at full capacity
load, the Nakskov Facility is projected to have an operational yearly capacity
of upcycling approximately 84,000 metric tons (185,188,300 US pounds).

Furthermore, to ensure long-term stability and maximize the benefits of the
partnership, the duration of the offtake contracts with Vitol has been extended
and expanded. These contracts will now encompass the first 10 facilities,
spanning a period of ten years from the initiation of production at each
facility. This strategic decision allows for a more secure and mutually
beneficial relationship between the parties involved, laying a solid foundation
for sustained success and growth in the future.

Chairman of the Board Niels Stielund noted, "The remarkable success of adhering
to the construction timeline in Faarevejle, Denmark, is truly commendable. Led
by CEO Niels Bagge and his exceptional team, the seamless launch of the facility
at a CAPEX of approximately EUR 381 per ton capacity has surpassed external all
expectations and underpins the absolute strength of the reliable and robust WPU
- advanced batch upcycling technology. This outstanding accomplishment not only
reflects the dedication and expertise of the WPU team but also paves the way for
an exciting new chapter for the company and its shareholders. 

The future is indeed bright for WPU as we continue to set new benchmarks in the
industry."

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

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 Securities Act. In any EEA Member
State, this communication is only addressed to 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 Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as "relevant persons"). This communication
must not be acted on or relied on by persons who are not relevant persons. Any
investment or investment activity to which this communication relates is
available only for relevant persons and will be engaged in only with relevant
persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so. Matters 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 expressed
or implied in this release by such forward-looking statements. The 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 this
announcement or any obligation to update or revise the statements in this
announcement to reflect subsequent events. You should not place undue reliance
on the forward-looking statements in this announcement. The information,
opinions and forward-looking statements contained in this announcement speak
only as at its date, and are subject to change without notice. The Company does
not undertake any obligation to review, update, confirm, or to release publicly
any revisions to any forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this announcement.
Neither the Manager nor any of its affiliates makes any representation as to the
accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein. This announcement is for information purposes only and is not to be
relied upon in substitution for the exercise of independent judgment. It is not
intended as investment advice and under no circumstances is it to be used or
considered as an offer to sell, or a solicitation of an offer to buy any
securities or a recommendation to buy or sell any securities of the Company.
Neither the Manager nor any of its affiliates accepts any liability arising from
the use of this announcement. The distribution of this announcement and other
information may be restricted by law in certain jurisdictions. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions. This
announcement is an advertisement and is not a prospectus for the purposes of
Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14
June 2017 on prospectuses to be published when securities are offered to the
public or admitted to trading on a regulated market, and repealing Directive
2003/71/EC (as amended) as implemented in any Member State. This information is
considered to be inside information pursuant to the EU Market Abuse Regulation,
and is subject of the disclosure requirements of section 5-12 of the Norwegian
Securities Trading Act.

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