Quarterly report of Q3 2025

This Q3 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,

With this report, we close the third quarter of 2025. As the new CEO of Pryme, I am pleased to share our progress, both in production achievements and in overcoming recent challenges. Pryme continues its journey to become a leader in converting plastic waste into high-quality pyrolysis oil.

At the start of the third quarter, the performance of our plant showed strong improvement, particularly through July, with a clear upward trend in uptime. Across July and August, we achieved a combined production run of 468 tons of pyrolysis oil, reaching a peak output of 130 tons per week at an uptime of 60%. While the overall reaction rate did not fully meet expectations due to scaling inside the reactor, the pyrolysis oil quality improved to agreed specification levels and other key operating parameters were more favorable than assumed for the Pryme plant capacity estimates.

In August, production came to a halt following sealing issues in the reactor. This incident led to an extended downtime that continued through the end of the quarter and into Q4. The repairs required were extensive and introduced new challenges, all of which our team successfully managed. The necessary interventions involved long lead times for both component deliveries and installation. This period, however, was used productively as we carried out comprehensive inspections of the drivetrain of the reactor and other systems to strengthen reliability. The reactor was also fully cleaned of scaling, preparing it for a fresh start of the upcoming process optimization tests. Additionally, the idle time was used to implement several planned plant upgrades originally scheduled for later, reducing the need for planned downtime in Q4.

Looking ahead to the fourth quarter, we will conduct the planned optimization tests and address key bottlenecks

- particularly those affecting the reactor's reaction rate. At the same time, we remain focused on improving reliability, oil quality, and feedstock flexibility.

This has been a challenging period, yet the resilience of our team has proven that we can turn adversity into progress. Each obstacle has strengthened our capabilities and our confidence in Pryme's long-term potential.

Thank you for your continued trust in Pryme. We remain fully committed to executing our long-term vision and leveraging the insights gained from Pryme One to enhance future plant design and engineering.

Sincerely,

Guus Lemmers CEO

• Safety Performance: No Lost Time Injuries (LTIs) were recorded during the third quarter. In August 2025 one Medical Treatment Incident (MTI) occurred related to not correctly following working procedures resulting in a personal injury. Other notable incidents involved loss of containment (LoC) at the tank storage area.
• Production Volume: In the third quarter of 2025 Pryme produced 468 tons of pyrolysis oil, until the shutdown on 25 August 2025 related to a leakage in the reactor's sealing system. The forecasted production volume of 900 - 1,600 mT of pyrolysis oil in Q3 was not achieved. Due to the necessary repairs of the reactor, production could not be restarted during the reporting period. Pryme One update Production

  Production amounted to 468 tons of pyrolysis oil during Q3, 2025.

  During the month of July 2025, Pryme produced 402 metric tons of pyrolysis oil. The production ran continuously from the beginning of the month until July 25th, when staffing issues caused a halt for the weekend. On Monday July 28th, inspection revealed the need to replace the seals in the reactor stuffing box.

  The July production volume represents a record monthly production volume for Pryme largely driven by the record long continuous production. The July production run demonstrated significant improvements in the reliability of the plant. As the production figures remained significantly lower than the previously estimated production capacity of the plant, focus was put to identifying solutions to debottleneck certain processes to increase the hourly production while maintaining the high uptime achieved in July.

  During August 2025, after restarting the plant, Pryme produced 66 metric tons of pyrolysis oil. The August 2025 production was halted, and the production volume remained below expectations due to a series of repairs on the reactor sealing system, heating circuits, and insulation.

  In September, Pryme suffered continued and additional delays in the repair of the reactor's sealing system and therefore no additional pyrolysis oil was produced during the reporting period.

  Sales

  In Q3 2025 (rounded) 548 tons of pyrolysis oil were sold and delivered at an average price of € 1,425 per ton.

  The pricing agreed upon in the sales contract with Pryme's main customer depends on the quality level of the pyrolysis oil.

  Feedstock supply and safety stock

  Pryme aims to source mixed plastic waste - primarily composed of polyethylene (PE) and polypropylene (PP)

  - from a diverse range of suppliers. In Q2, a new feedstock was successfully tested and was successfully used in Q3 reaching product quality that met agreed specifications. Another feedstock is added to the test program and will be tested in Q4. Pryme will diversify its feedstock sources to evaluate the impact on yield and oil quality, strengthen supply resilience, and reduce procurement costs.

  Other notables and further descriptions of activities and accomplishments for the reporting period: Main Sales Contract

  As mentioned in the Company's latest trading update on October 20th, 2025, Pryme has renegotiated its main sales contract. These negotiations were completed during the reporting period. The key elements that have been amended in the Company's favour are on pyrolysis oil pricing and quality specifications.

  Liquidity Status and Funding Requirements

  As mentioned in the trading update of October 20th, 2025, Pryme's cash balance amounted to around € 4.7 million at the end of the reporting period. The cash burn rate in Q3 was around € 4.6 million. The expected cash burn rates in Q4, 2025 and Q1, 2026 amount to € 3.3 million, respectively € 4.3 million. Pryme requires additional funding of around € 5-6 million for the period until the end of Q1, 2026. The Company is currently in the process of seeking additional funding as per the indicated amounts and timeline.

  IMPACT/ ESG

  Safety is Pryme's top priority operating in a hazardous petrochemical environment. The emphasis in Q3 on maintenance and repair required specific attention for safety when executing one-off type of activities. In Q3 2025 there were no Lost Time Injuries (LTIs). In August 2025, Pryme faced one Medical Treatment Incident (MTI) related to not correctly following working procedures during a repair in a constraint working area.

  Apart from the MTI, two incidents occurred involving a loss of containment (LoC) in the tank storage area and during the loading of a truck. The spills could be restricted and have been removed.

  Pryme has updated its emissions measurement plan regarding odor and wastewater to align with recent process changes. As part of ongoing process improvements, operational adjustments led to the creation of a new wastewater stream. In collaboration with the relevant authorities and the industrial wastewater treatment facility, Pryme has planned extensive testing of these streams to ensure compliance and uphold environmental responsibility. Testing continued during the reporting period and was halted caused by the production shutdown in August 2025. Testing will continue in Q4.

  Operational insight continues to improve through close monitoring of the plant's mass balance. The data collected will serve as a key input for the upcoming Life Cycle Analysis (LCA). Unfortunately, the LCA had to be postponed awaiting the availability of data from stable production conditions at close to full capacity levels.

  Organization and management board

  Guus Lemmers assumed the role as CEO assigned with the management tasks and responsibilities of the Company's management board on a permanent basis as of September 3rd, 2025, succeeding Benoît Morelle who acted as the Company's CEO on a temporary basis since March 8th, 2025.

  HR

  Two vacancies were filled during the reporting period in Pryme One operations to man the 5-shift production scheme that was reinstated in June 2025.

  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 first consultation meeting with the PVT during the reporting period.

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

  Technology and lab-scale plant Ghent

  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:

• Screening and selecting suitable feedstock - additional feedstock suppliers have been identified based on this proven and effective feedstock selection process.

• Delivering experiments to optimize Pryme One or prepare for Pryme Two - Recent experiments evaluated the influence of feedstock composition on yield and quality and the use of auxiliary materials.

• Providing technical support and expertise.

• Delivering milestones linked to the EU Horizon (ELECTRO) project. The entire consortium, Pryme included, is making good progress. All deliverables and milestones are on-track. The project also leverages Pryme One - the Company's TRL7 unit in Rotterdam - to demonstrate some of the objectives of the EU Horizon project.