Trading Update - Pryme resumes production at Pryme One and requires additional
funding

Rotterdam, April 3rd, 2025

On March 11th, Pryme (the "Company") resumed operations at its pilot plant,
Pryme One. This day marked the first production since the beginning of January
2025 following a shutdown due to a leak in a reactor seal. The necessary repairs
required significant lead times for both components and execution. 

Pryme is providing the following trading update which provides information
regarding the Pryme One production status, Pryme's liquidity status, status of
renegotiating Pryme's supply contract(s), an update to Pryme's FY 2024
financials and updates on selected other items.

Pryme One Production Status

In Q4, 2024, Pryme issued multiple trading updates where the most significant
information was the reduction in the expected annual capacity of Pryme One from
around 30,000 to around 17,000 tons of pyrolysis oil. Such an estimation of the
Pryme One production capacity was based on observations at that time based on
the 2024 production runs. Expected plant availability, feeding time of the
reactor, reaction rates, feedstock to oil yields and other variables were taken
into consideration when estimating the overall Pryme One production capacity.
Many of these assumptions were based on data acquired at low feed rates.
Consequently, Pryme developed a testing plan in order to improve the accuracy of
and verify the capacity estimates. Unfortunately, the reactor leak experienced
in early January 2025 led to a delay in the start of such testing plan. At the
beginning of March, such testing started.

Although still early, and in the absence of long production runs, the
observations so far are somewhat mixed. The facility was successfully restarted
on March 11th and has produced 154 tons of pyrolysis oil. The plant was shut
down on March 31st due to vibrations. The intent is now to inspect the reactor
and resume production around mid-April. No major mechanical issues are expected,
but this will have to be confirmed after the inspection. To date, not enough
data has been gathered to confirm nor deny the parameters communicated to the
market in previous updates.

The estimated production volumes mentioned in the investor presentation for Q2,
Q3 and Q4, 2025 of 750-1,250, 1,500 2,500 tons and 3,000-4,000 tons of pyrolysis
oil, respectively, are still expected to take place, albeit towards the low-end
of the ranges unless further improvements are implemented. The testing program
of Pryme One is expected to continue until the end of Q2, 2025 at which time,
the production is expected to become more stable at higher levels than in Q1 and
Q2, 2025.

Please note that the above operational plan and further financial implications
of the performance of the Company are not intended as a guidance to Pryme's
future performance but rather is intended to inform the market of Pryme's
operational ambitions and plans for 2025.

Liquidity Status & Funding Activities

At the end of Q1, 2025, Pryme's cash balance amounted to around EUR 5.7 million.
The cash burn rate in Q1 was around EUR 4.3 million. It is expected that the Q2
and Q3 cash burn rates will be similar to that of Q1, or almost EUR 1.5 million
per month, before the cash flow is expected to improve in Q4 due to higher
levels of pyrolysis oil production as per the plan. Although the production
volumes are expected to increase significantly in Q3, the cash flow effect is
not expected to take place before Q4 due to estimated working capital needs. In
Q4, the Company expects a reduced cash burn rate of EUR 2.3 million as the effects
of the production volume increase are expected to affect the cash flow. For
2026, the operational cash flow is projected to reach the breakeven level due to
higher production volumes and improved pricing for the pyrolysis oil. The above
cash flow estimations exclude any Pryme Two expenditures as these will need to
be funded separately and only after the Pryme One expected performance has been
further verified.

These revised estimated quarterly cash flow figures represent a deterioration
versus earlier estimates and particularly versus the expectations when the
December 2024 private placement was completed. This is mainly due to the slower
ramp up of production volumes, primarily triggered by the delays due to the
reactor leak described above. That leads to a higher expected funding need than
previously estimated.

The December private placement raised EUR4 million with an additional EUR6 million
of "put options" being conditionally issued to Pryme subject to certain
operational milestones being reached. Due predominantly to the delays incurred,
these conditions will most likely not be met, and most certainly not before
Pryme requires additional funding.

As Pryme is due to file its 2024 Annual Report in May 2025, it is important that
the Company demonstrates sufficient funding for the next twelve months in order
to be able to assume going-concern treatment for its annual accounts. This leads
to additional funding needs in the amount of around EUR7 million that will be
required shortly. This increases the urgency for securing the necessary funding.

After experiencing interest from Pryme's main and largest shareholders and
general interest from sector investors, the Company believes it will succeed in
obtaining sufficient funding as per the indicated amounts and timeline. However,
the Company does currently not have visibility with respect to the terms on
which such funding may be available although it seems likely that the pricing
will be below the current trading level of the Company's stock at the time of
this trading update.

Sales Contract Renegotiation

As mentioned in earlier trading updates, quarterly reports and investor
presentations, Pryme is seeking to renegotiate certain elements of its main
sales contract. The key elements that are being renegotiated are pyrolysis oil
pricing and specifications. The rationale for the earlier is the market prices
for pyrolysis oil being higher than Pryme's contractual pricing and more
significantly the cost impact of the reduced capacity expectations for Pryme
One. Such negotiations have progressed well during Q1 2025 but have not yet been
concluded.

FY 2024 Financials - An Update

The Company issued its Q4, 2024 quarterly report on February 26th, 2025. Pryme
does not expect any of the figures in the Q4, 2024 report pertaining to the FY
2024 figures to change significantly except for the expected impairment charge.
In the Q4 report, it was stated that the estimated charge amounted to EUR20.4
million, but that subject to the auditing process such amount could increase by
as much as EUR10 million. As a result of the discussions with the Company's
auditor, Pryme still expects the final determination of the 2024 impairment to
be within the range indicated in the Q4, 2024 report, more specifically around
EUR25 million.

Other updates

As per the date of this trading update, 
- The Company had a cash balance of EUR 5.9 million.
- The net loss for January and February 2025 amounted to EUR 3.3 million and the
Company expects the March 2025 losses to be around EUR 1.4 resulting in an
expected Q1, 2025 loss of EUR 4.7 million.
- There were no revenues recognized in Q1, 2025 as no shipments of pyrolysis oil
were made.
- The cash burn rate for January and February 2025 combined amounted to EUR 3.5
million. In March 2025, the expected cash burn rate is around EUR 0.8 million,
resulting in an estimated Q1, 2025 cash burn rate of EUR 4.3 million. The cash
flow figures referenced exclude any effects from funding amounts received in
February 2025 following completion of the December 2024 private placement but
include all other cash flow elements.

The Company is planning to publish its quarterly report for the first quarter of
2025 and the 2024 Annual Report on May 7th, 2025. 

Disclaimer 
This disclosure (the "Disclosure") has been produced by Pryme N.V. (the
"Company" or "Pryme"). This Disclosure and any information contained herein or
provided in this Disclosure are being made available for informational purposes
only, and may not be distributed to any other person, reproduced, published or
used in whole or in part for any other purpose. It does not constitute, and
should not be construed as, any offer or invitation or recommendation to buy or
sell any of the Company's securities. No representation, warranty, or
undertaking, express or implied, is made to,  and no reliance should be placed
on any information, including projections, estimates, targets and opinions,
contained herein, and no liability whatsoever is accepted as to any errors,
omissions or misstatements  contained herein, and, accordingly, the Company
accepts no liability whatsoever arising directly or indirectly from the use of
this Disclosure, or  its contents or otherwise arising in connection therewith.

All information in this Disclosure is subject to verification, correction,
completion and change without notice. In publishing this Disclosure, the Company
undertakes no obligation to provide the recipient with access to any additional
information or to update this Disclosure or any information or to correct any
inaccuracies in any such information.

This Disclosure contains several forward-looking statements relating to the
business, financial performance and results of the Company and/or the industry
in which it operates. Forward-looking statements concern future circumstances
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