Quadrise Plc · LSE:QED
Quadrise — Shareholder Meeting (November 2025)
22 slides from Quadrise's shareholder meeting presentation, Nov 28, 2025
Slide 1: AGM Presentation
28 November 2025 AGM Presentation Peter Borup, CEO
Slide 2: Reflections after two months at Quadrise
Reflections after two months at Quadrise • Strong reputable partners & strong tech platform • Complex marketplace • Dependence on external stakeholders (classification societies, flag states, IMO, EU, academics, engine producers) • Substitution effects – i.e. competition from other segments for feed
Slide 3: Reflections, Two months at Quadrise
Reflections, Two months at Quadrise. Before Now • Limited capacity, hence • More hands allows us to: not proactive enough • Conduct trials in parallel and hence widen pipeline • Sequential approach • F2F meetings with feedstock providers • Engage external stakeholders • More commercial project manag
Slide 4: Maritime sector update
Maritime sector update Adoption of Net- Zero Framework at MEPC83 delayed • IMO failed to adopt MEPC83 in Oct 2025, decision delayed • Adopted its updated “2023 GHG Strategy” which aims to reduce the carbon intensity of international shipping by at least 40% by 2030 (vs 2008), to have zero/near-zero
Slide 5: Maritime sector update: Stricter rules imposed in EU
Maritime sector update Stricter rules imposed in EU Regionally, the FuelEU Maritime and the inclusion of shipping in the EU Emissions Trading System have established stricter rules in the EU that go ahead of IMO’s global schedule A first global charge/fee on shipping emissions has been proposed - Sh
Slide 6: Quadrise offers tailored solutions to the different business models in Shipping
Quadrise offers tailored solutions to the different business models in Shipping Cruise ships BRAND Regular, planned port calls CONSCIOUS Ferries Same ports Container Liner service Car Carriers Liner service Dry cargo Unpredictable port calls Products Unpredictable port calls Crude COST Unpredictable
Slide 7: What does this mean for Quadrise?
What does this With Withor orwithout without mean for Quadrise? MEPC83 MEPC83the thenext “perfect” We believe that if the MEPC83 is not maritime maritimefuel fuel adopted next year… isisstill stilldistant. some time off • China will introduce its own regulation – likely very similar to the Fuel EU •
Slide 8: What does this mean for Quadrise: Transition technologies
What does this mean for Quadrise • Owners will ensure compliance - operational costs measured against required CAPEX spending • A number of transition technologies and fuels are available - rotor sails - silicone hull paint - bioMSAR Transition technologies The benefits are cumulative can reduce GHG
Slide 9: Focus Trials and Feedstocks are Must-Win Battles
Focus Trials and Feedstocks are Must-Win Battles • We focus on getting the MSC trial to commence • We are in talks with other owners about a second trial • We are seeking out refineries that can supply high sulphur residues (even if this is harder due to lack of trial data) – initially in N. Europe
Slide 10: We operate in a complex environment – we need agency
We operate in a complex environment – we need agency Refinery QUADRISE Engine producers Cargo Fuel Flag trader States NGO’s Class Capital Agents Markets SHIPOWNER Bank Ports Operator IMO-EU Brokers
Slide 11: bioMSAR offers a flexible platform
bioMSAR offers a flexible platform Test blending with Straight Vegetable Oil is pending Working with Licella to bioMSAR has been Blending tests at QRF with Methyl Esters incorporate HTL bio-oil successfully produced have been successful. Tests completed into bioMSAR using Tyre Pyrolysis Oils at Aqua
Slide 12: Our Projects
Our Projects • Binding 3-way agreement with MSC & Cargill signed • MAC² bilateral signed and site civil works completed awaiting mobilisation once legal framework is finalised • Changing objectives from our partners: Scope for larger volumes, changed geographical focus (to SE Asia and NW Europe – an
Slide 13: The path forward: Track 1 and Track 2
The path forward: Track 1 Track 2 • Finalise agreements relating • Direct discussions with refineries to the commercial trials in NE Europe and SE Asia to availability of high sulphur fuel oil in each region • Mobilise in Antwerp • Supply agreements will benefit from successful trials and proven dem
Slide 14: Our Projects: Morocco OCP
Our Projects • The Jorf Lasfar MSAR® trial requires final OEM approval before proceeding at the new location • Quadrise and OCP are working to obtain this OEM approval and commence the trial once received • Quadrise trial equipment is still on-site, in readiness • Trial costs are fully reimbursable
Slide 15: Our Projects: USA Valkor
Our Projects • Valkor provides us with a presence in the North American market – with a unique marine fuel option • Valkor has now attracted financing and has paid the revised first instalment to Quadrise (US$ 50,000) • Downhole drilling expected to provide representative samples for Quadrise testin
Slide 16: Our Projects: Panama Sparkle
Our Projects • Successful trial with Sparkle Power concluded in July 2025 • Confirmed fuel performance on Everllence (MAN) 4-stroke diesel engines • Companies now progressing fuel permitting and confirming regional commercial supply arrangements • 1,000bpd starting demand at Sparkle with potential 1
Slide 17: Our Projects
Our Projects • Good progress - testing new biofuels for bioMSAR / Zero • Collaborations with technology companies to explore and unlock new renewable feedstocks: • Solvolysis: with Vertoro BV and partners • Fast pyrolysis: with BTG Bioliquids BV and Alder Energy • Hydrothermal Liquefaction: with Lic
Slide 18: In Summary
In Summary MARINE is our focus Industrial still offers turnover and profits – and supports our efforts in Marine .
Slide 19: Financing and resources
Financing and resources Loss after tax of £3.1m (2024: £2.9m) Loss per share for the year of 0.17p (2024: 0.18p) Cash balance 30 June 2025 of £5.9m (2024: £3.0m) Cumulative tax losses of £68.0m (2024: £64.7m) potentially available for set-off against £ future profits. Leading the future of fuel Quad
Slide 20: Enhanced Leadership team
Enhanced Leadership team Key marine-sector appointments to enhance delivery capacity: Peter Borup Linda Sorensen Tony Foster Jason Miles Philip Hill appointed as CEO appointed as appointed now CTO leading as CCO leading from 1 Oct 2025 Head of Marine as NED on projects supply development
Slide 21: Outlook…
Technology Projects Resources Regulatory and commercial Continued focus on the Highly experienced environment continues successful execution of management team which has to support the adoption the MSC and Cargill trial. been further strengthened. of our technology. • Aligned with IMO/EU • Commercia
Slide 22: Thank you
28 November 2025 Thank you Peter Borup, CEO