Press Release March 23, 2020

Quantafuel AS, Lilleakerveien 2c, 0283 Lysaker, Norway

Quantafuel AS |Summary of Collaboration agreement with BASF.

As communicated on March 20th, BASF and Quantafuel AS have signed the Collaboration agreement.

Please find attached the summary of the agreement. The summary is in accordance with section 3-8

of the Norwegian Private Limited Liability Companies` Act also sent all shareholders of the company.

For further queries, please contact:

Kjetil Bøhn, CEO +47 91 57 38 18

About Quantafuel | https://quantafuel.com/

Quantafuel is a technology-based energy company converting waste plastics back into low-carbon synthetic oil products replacing virgin oil products. Quantafuel is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants and plans to establish several plants throughout Europe and beyond.