Q4 2025 Report

This Q4 2025 Report (the "Report") is produced by Pryme N.V. (the "Company" or "Pryme") and contains several forward-looking statements relating to the business, financial performance and results of Pryme, its subsidiaries and/or the industry in which it operates. Forward-looking statements concern future

circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "forecasts", "anticipates", "targets", "will", "should", "may", "continue" and similar expressions.

Forward-looking statements include statements regarding objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; profit; margin, return on capital, cost or dividend targets; economic outlook and industry trends; developments of the Company's markets; the impact of regulatory initiatives; and the strength of the Company's competitors.

The forward-looking statements contained in this Report, including assumptions, opinions and views of the Company, are based upon various assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third party sources. Although the Company believes that these assumptions were reasonable when made, the statements provided in this Report are solely opinions and forecasts that are uncertain and subject to risks, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

A number of factors can cause actual results to differ significantly from any anticipated development expressed or implied in this Report. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved and you are cautioned not to place any undue reliance on any forward-looking statement. The information obtained from third parties has been

accurately reproduced and, as far as the Company is aware and able to ascertain from the information

published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading.

Dear Shareholders and Stakeholders,

The fourth quarter of 2025 was challenging for Pryme, with reactor related issues limiting production and requiring significant repair and stabilization work. We were only able to produce for very short periods in October and December.

We restarted testing on January 26thbut were forced to halt again on February 5thdue to a loss of containment; a restart is expected in early March. Despite these setbacks, our safety performance remained strong, with no Lost Time Injuries in the quarter.

In 2026, Pryme is entering a decisive year. Our focus is on three priorities:

1. Proving production stability by restoring reactor reliability and completing our assessment of alternative reactor technologies;

2. Executing a comprehensive cost reduction program, and

3. Accelerating development of new sites to strengthen future growth and investor confidence.

Delivering tangible progress on these initiatives will form the foundation upon which Pryme intends to secure future funding and accelerate new strategic opportunities.

We completed a € 5.0 million private placement in December, giving us a cash balance of € 6.6 million at year end 2025. A successful subsequent offering in January brought € 0.5 million additional cash. Strategic

decisions -including our long-term reactor strategy- will be made after evaluating the Q1 operating results.

While the past months have been difficult, we are taking the right steps to build reliability, improve performance, and position Pryme for long term value creation. I want to thank our team and our shareholders for their continued trust.

Benoît Morelle CEO

• Safety Performance: No Lost Time Injuries (LTIs) were recorded during the fourth quarter. In October 2025 one work related First Aid Case (FAC) incident occurred related to the repair works on the reactor

  sleeve. In December 2025 a Loss of Containment (LoC) incident occurred related to the reactor discharge valve assembly.

• Production Volume: In the fourth quarter of 2025, Pryme produced 22 metric tons of pyrolysis oil. The forecasted production volume of 600 metric tons of pyrolysis oil in Q4 was not achieved due to several reactor related issues. Pryme One update Production

  Production was limited to 22 tons of pyrolysis oil during Q4, 2025. This volume was adjusted compared to previous communications on volume for Q4 according to the final mass balance calculations for the full year 2025.

  During the month of September and October 2025, the production was halted due to the repairs to the reactor sealing system, heating circuits and insulation related to the issues that emerged in August 2025. The repairs and improvements took until the end of October before Pryme was able to restart the plant on October 31st, 2025.

  On November 5th, Pryme halted its testing program due to issues with the reactor sleeve assembly. Over the course of November and early December, several repairs and modifications were made to the reactor sleeve assembly to prevent the issue recurring.

  In December 2025, Pryme restarted its testing program on December 18thafter the repair and modifications on the reactor sleeve but was forced to halt its testing program on December 22nddue to a leakage on the

  discharge valve assembly. For the repairs and improvements, it was needed to cool down the reactor completely. Consequently, the testing program could not be restarted before the end of the year.

  The testing program was resumed on January 26th, 2026, and was halted on February 5th, due to a loss of containment through the connection of the discharge valve to the main body of the reactor despite the recent repairs and improvements applied.

  Sales

  In Q4 2025 Pryme did not sell any pyrolysis oil due to the lack of production output.

  Other notables and further descriptions of activities and accomplishments for the reporting period: Liquidity status and funding requirements

  Following the successful private placement of € 5.0 million in December 2025, Pryme's cash balance amounted to around € 6.6 million at the end of the reporting period

  The cash burn rate in Q4 2025 was around € 3.0 million. The expected quarterly cash burn rate in Q1 and Q2 2026 will be similar unless impacted by the strategic choices Pryme is considering.

  Funding requirements will be determined by the strategic plan that Pryme is progressing since its trading

  update on 12 November 2025, encompassing final decisions to make on a possible change in reactor strategy for continuation of the Pryme One installation. Further to disclosure made in the prospectus in the Company's subsequent offering in January 2026, Pryme is also evaluating the feasibility of development of its

  Amsterdam-based site for a future plant including a different reactor technology.

  The feasibility of the strategic choices is dependent on the likelihood of attracting the required funding for these plans.

  IMPACT/ ESG

  Safety is Pryme's top priority operating in a hazardous petrochemical environment. The emphasis in Q4 on maintenance and repair required specific attention for safety when executing one-off instead of repetitive

  activities. In Q4 2025 there were no Lost Time Injuries (LTIs). In October 2025, Pryme faced one First Aid Case (FAC) related to not correctly followed working procedures during a repair in a constraint working area.

  Apart from the FAC, one incident occurred involving a loss of containment (LoC) on the reactor discharge valve assembly where VOC (Volatile Organic Compounds) concentrations were measured resulting in a

  controlled shutdown of the plant.

  Pryme has launched a Safety Culture program aimed at strengthening safety awareness across the organization and reducing safety incidents and other unwanted events. The program begins with a self-assessment,

  followed by a gap analysis, to provide clear insight into the current situation in alignment with the NEN (Dutch Standardization Institute) guidelines.

  As mentioned in the Q3 2025 report, Pryme has updated its emissions measurement plan and planned

  extensive testing of these streams to ensure compliance and uphold environmental responsibility. Testing was halted due to the production shutdowns in Q4 2025. Testing will continue in 2026.

  Organization and management board

  The Company' Management Board during the reporting period consisted of Guus Lemmers as the Company's sole managing director and CEO, following his appointment effective 3 September 2025.

  HR

• Pryme One operations continued to man the 5-shift production scheme that was reinstated in June 2025.

• No resignations were received, no vacancies were posted.

• Having established an employee representative body pursuant to the Dutch Works Councils Act (in Dutch: a "Personeelsvertegenwoordiging" and abbreviated "PVT") in Q2, 2025, the Company held its second consultation meeting with the PVT during the reporting period.

• Pryme held Code of Conduct compliance refresher trainings to all staff, held in October and November 2025.

Pryme's R&D team continued to leverage its lab-scale analytical equipment and pyrolysis plant as an

efficient, cost-effective, and rapid means of supporting the Company's operations. Key activities included:

• Providing technical support and expertise.

• A comprehensive review of all available pyrolysis reactor technologies to support Pryme's decision on its reactor strategy by the end of the first quarter of 2026.

• A detailed evaluation of internal reactor scaling and identify mitigation measures and testing strategies to minimize or eliminate scaling to optimize heat transfer and reactor capacity.

• Continued strong progress in achieving EU Horizon (ELECTRO) project milestones and deliverables, supported by work at the TRL5 unit in Ghent and the TRL7 unit in Rotterdam.

Pryme continued evaluation activities, primarily related to assessing the feasibility of a new site in the

Rotterdam area. Towards the end of the reporting period and as disclosed in the prospectus for the Company's subsequent offering in January 2026, the Company initiated feasibility studies on the Amsterdam site for various reactor technologies.