Agilyx Provides Update on GreenDot Closing and Financing
OSLO, Norway - October 13th 2025 -Agilyx ASA (OSE: AGLX: OTCQX: AGXXF:ISIN:NO0010872468: WKN: A2QGQ) ("Agilyx" or the "Company") today provides anupdate on the pending completion of its strategic investment in GreenDotGlobalS.à.r.l. ("GreenDot") and related financing arrangements.
Following approval at the Extraordinary General Meeting held on October 3rd2025, all conditions for the closing of the GreenDot transaction have now beensatisfied. Closing is scheduled for October 14th 2025, at which time and afteracapital increase in GreenDot, Agilyx will own approximately 44% of all issuedshares in GreenDot, a pan-European circular recycling platform for wasteplasticfeedstock.
oThe total consideration for Agilyx's investment in GreenDot amounts to EUR52million.oIn connection with the transaction, the Company has drawn the EUR20 millionsubordinated loan facility announced July 17th 2025.oThe Company will issue: EUR32 million in Agilyx ASA shares issued to certainGreenDot shareholders at a subscription price of NOK 25.76 per share,equivalentto 14,866,554 shares; EUR13 million in cash for the acquisition of existingGreenDot shares; EUR7 million in cash invested into GreenDot as part of aEUR27.5mequity raise by GreenDot remaining shareholders, including Agilyx ASA, PioneerPoint Partners, and Circular Resources.oGreenDot is performing well and is on track to meet its 2025 revenue forecastof EUR380 million with expected EBITDA of EUR18.6 million in Germany and EUR12millionconsolidated.
The existing loan facility ranks subordinated to Agilyx's outstanding greenbonds ("Agilyx ASA 13.50% senior secured USD 50,000,000 bonds 2024/2027") andwill be subject to a subordinated loan agreement entered into with the bondtrustee, as set out in the bond terms.
The Company´s intention is to replace the shareholder loan with othersubordinated debt capital. The Company has also identified certain strategicmeasures that could be implemented to materially extend the Company's cashrunway beyond mid Q1 2026, mainly through cost-reduction initiatives,strategicpartnerships, asset sales or additional subordinated debt.
In September, GreenDot was awarded a 10-year feedstock supply contract from athird-party advanced recycling facility, representing 20,000-34,000 tons perannum with an EBITDA contribution of EUR3-4 million per year from 2028. Thecompany has also entered into an agreement to purchase a mechanical recyclingfacility in Italy, which specializes in bottle-to-bottle recycling and theproduction of pipes from recycled material. The transaction is expected tocloseby the end of October. Cyclyx continues to work diligently to develop its first and second CyclyxCircularity Centers (CCC1 and CCC2). CCC1 is expected to reach commissioninginthe first half of 2026. Costs up to commissioning will be materially higherthanfirst anticipated. It is currently not possible to predict with certaintywhether, and if so, in what amount and when, Agilyx may have to contribute. Inany 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 previouscommunication, is expected to reach completion at the end of 2026.
The 14,866,554 consideration shares to be issued upon completion of theGreenDottransaction are subject to lock-up until January 10th 2026. The shares willbecome listed at Euronext Oslo Børs with the Company's ordinary ISIN followingpublication of an exempted document. Such document will not be reviewed orapproved by any regulatory authority and is expected to be published beforeyearend 2025.
Agilyx CEO Ranjeet Bhatia commented "We are pleased to reach completion on theGreenDot investment. We have a tremendous opportunity to rapidly build theleading pan-European plastic recycling platform and are very much lookingforward to working with our new GreenDot colleagues and shareholders toachieveour goals."
About AgilyxAgilyx ASA is a leading global investment platform supporting the developmentofplastic waste feedstock supply to the recycling industry. Through its 44%stakein GreenDot Global, Europe's largest waste plastic recycling platform,generating over EUR 400 million in annual revenues, Agilyx gains access tolargevolumes of post-use plastic and advanced sorting and recycling infrastructureinGermany, Austria, and Italy, helping supply critical European-sourcedfeedstockto the European advanced recycling markets. Through Cyclyx, its (50%) jointventure with ExxonMobil (25%) and LyondellBasell (25%), Agilyx supports thecollection and processing of post-use plastic waste into custom-formulated,high-quality feedstock solutions for global plastic producers. Agilyx marketsStyrenyx, its proprietary advanced recycling technology, to recyclepolystyrenewaste into recycled styrene monomers for reuse in new, high-quality products.Byenabling the shift from a linear "make-take-waste" model to a circulareconomy,Agilyx helps solve the crisis of plastic waste and supports the globaltransition to a low-carbon future.
Inquiries: investors@agilyx.comLearn more at: www.agilyx.comFor media resources, visit: https://www.agilyx.com/media-room/
https://newsweb.oslobors.no/message/657048
