NEXTCHEM CORPORATE PROFILE
December, 2022
1. Maire Tecnimont Group 2. NextChem company introduction 3. Carbon and Emissions Reduction 4. Circular Economy 5. Biofuels CORPORATE PROFILE
SUMMARY
MAIRE TECNIMONT GROUP GAS MONETIZATION & TRANSITION FUELS ENERGY TRANSITION LARGE-SCALE EPC: • OIL&GAS REFINING • PETCHEM • FERTILIZERS OIL&GAS REFINING FERTILIZERS TECHNOLOGY RENEWABLE ENERGY PROJECT DEVELOPMENT PETROCHEMICALS OIL & GAS REFINING • Polyethylene (LDPE, HDPE) • Polypropylene • Propane Dehydrogenation (PDH) • Aromatics • Refining • Hydrogen and Syngas • Sulphur Recovery • TailGas Treatment • Fire Heaters
• Low-Carbon Hydrogen • CO2 Capture and Valorization • HVO, 2G Ethanol andSAF • Plastic Upcycling, Wasteto Chemical • Bioplastics • Solutions for Renewable Energy • Energy Efficiency • ENERGY EFFICIENCY • FACILITY MGMT • GREEN CHEMISTRY • ENERGY TRANSITION BUSINESS UNITS AREAS OF EXPERTISE GREEN ACCELERATION ENERGY AND CHEMICALS ~45 COUNTRIES ~1,500 TOTAL DELIVERED PROJECTS 50 OPERATING COMPANIES • Urea • Ammonia • NitricAcid CORPORATE PROFILE | GROUP OVERVIEW 2
FERTILIZERS
TECHNOLOGICAL LEADERSHIP TO ENABLE ENERGY TRANSITION 175 30% AMMONIA AND UREA PLANTS** 50% WELL ROOTED TECHNOLOGY ORIENTATION: MARKET LEADER (#1) FOR INSTALLED CAPACITY (last 10ys) WORLD CLASS TRACK RECORD IN LARGE GAS TREATMENT PLANTS AND REFINERY PROCESS UNITS WELL RECOGNIZED LEADERSHIP IN LICENSING HYDROGEN TECHNOLOGY AND IN LICENSING SULPHUR 52% 33% Since 1970 1,857 Cumulated Patents STRONG COMMITMENT TO TECHNOLOGY DEVELOPMENT HYDROGEN AND SULPHUR RECOVERY UNIT PROJECTS** POLYETHYLENE AND POLYPROPYLENE PLANTS AND PROJECTS ** MORE THAN MORE THAN POLYOLEFIN PLANTS MARKET SHARE IN LDPE PLANTS MARKET SHARE IN MARKET SHARE IN LICENSING UREA PLANTS TECHNOLOGY (#1 worldwide)* MARKET SHARE IN LICENSING UREA GRANULATION TECHNOLOGY (#2 worldwide)* Since 1971 RECOVERY AND TAIL GAS TREATMENT TECHNOLOGY €56MN INVESTED IN INNOVATION ~80 R&D PROJECTS RANK ENR WORLD TOP-10 POWER MARKET ENGINEERING COMPANIES 2016 INSTALLED WORLWIDE POWER GENERATION PROJECTS MORE THAN Since 1962 7th 21GW Since 1924 220 250 280 ENERGY AND CHEMICALS GREEN ACCELERATION • MYREPLASTTM UPCYCLING • PLASTIC CHEMICAL RECYCLING • WASTE TO CHEMICALS • GREEN CIRCULAR DISTRICTTM • BIO-POLYMERS • GREEN AMMONIA • UREA AND NITRIC ACID BASED ON SUSTAINABLE FEEDSTOCK • HVO • SUSTAINABLE AVIATION FUEL • 2G BIO-ETHANOL • CO2 CAPTURE AND VALORIZATION • RENEWABLE ENERGY • GREEN HYDROGEN (ELECTROLYSIS) • ELECTRIC BLUE HYDROGENTM (ELECTRICAL SMR) • CIRCULAR HYDROGENTM • CIRCULAR GASTM >30 TECHNOLOGIES 260 LICENCE UREA PLANTS** * Data are based on corporate analysis ** Completed *** Completed and ongoing PETROCHEMICALS FERTILIZERS OIL & GAS REFINING ENERGETICS & NEW POWER IN GREEN ACCELERATION CORPORATE PROFILE | GROUP OVERVIEW 3
FINANCIAL DATA 197 235 1,288 955 4,299 8,029 31/12/20 3/12/2021 E EP EPC 5,784 9,219 €2.9 BN DRIVEN BY NEW ORDER INTAKE €173.7 MN EBITDA MARGIN 6.1% €6.4 BN THE HIGHEST ORDER INTAKE EVER €9.5 BN 3.3X BACKLOG COVER** (**) Defined as the ratio between backlog and the last twelve months’ revenues. HYDROCARBON BU BACKLOG BY TYPE (€M, 31/12/20 - 31/12/21) FY 2021 Consolidated Financial Results GOOD MIX BETWEEN E, EP, AND EPC E+EP: €1.2 BN +8.9% * Changes vs FY 2020 +0.9% + €3.701 M THE HIGHEST BACKLOG EVER SOLID AND IMPROVING FY 2021 FINANCIAL PERFORMANCE EBITDA BACKLOG ORDER INTAKE REVENUES CORPORATE PROFILE | FINANCIAL DATA 4
FINANCIAL DATA NORTH AMERICA 1% ASIA 12% AFRICA 18% EUROPE 33% MIDDLE EAST 36% 5,784 9,219 218 269 31/12/20 31/12/21 Hydrocarbons Green Energy 6,002 9,488 BACKLOG BY BUSINESS UNIT (€M, 31/12/20 - 31/12/21) BACKLOG BY GEOGRAPHY (DEC 2021) SOLID AND DIVERSIFIED BACKLOG FY 2021 Consolidated Financial Results 81% GAS MONETIZATION & ENERGY TRANSITION CORPORATE PROFILE | FINANCIAL DATA 5
1. Maire Tecnimont Group 2. NextChem Company introduction 3. Carbon and Emissions Reduction 4. Circular Economy 5. Biofuels CORPORATE PROFILE SUMMARY
NEXTCHEM BUSINESS MODEL NEXTCHEM BUSINESS MODEL OPERATOR (EQUITY CONTROL OF GREEN PRODUCTION PLANT/ PLAYER) JV PARTNER (EQUITY AND TECH PARTNERNSHIP WITH INDUSTRIAL PLAYER) EPC ORIGINATOR (COMMERCIAL ORIGINATION BACKED BY MET CAPABILITIES) LICENSOR (IP AND FEED COMMERCIALIZATION TO INDUSTRIAL PLAYERS) INVESTMENT SCALE (CAPEX REQUIRED TO DEVELOP FULL INDUSTRIAL SCALE PLANT) SMALL SCALE SIGNIFICANT SCALE EPC ORIGINATOR AND LICENSOR BUSINESS MODELS TO BE PURSUED ONLY IF OPERATOR / JV PARTNER OPTIONS ARE NOT POSSIBLE NEXTCHEM BUSINESS MODEL NextChem will activate optimal business model on a case by case basis with the objective of maximizing return of IP Portfolio and commercial opportunities CORPORATE PROFILE | NEXTCHEM INTRODUCTION 7
1. Maire Tecnimont Group 2. NextChem company introduction 3. Carbon and Emissions Reduction 4. Circular Economy 5. Biofuels CORPORATE PROFILE SUMMARY
NEXTCHEM SOLUTIONS FOR REFINERY DECARBONIZATION AND EMISSIONS
Cleaner Hydrogen Production CO2 Capture and Valorization Emissions reduction a Technologies to produce a cleaner and low-carbon hydrogen for refinery processes: – Electric Blue Hydrogen™ – Circular Hydrogen™ – Green Hydrogen Capture of CO2 from flue gas and process streams for storage or conversion to carbon neutral valuable chemicals or fuels: – Synthetic Natural Gas (methane) – Methanol & Ethanol – Synthetic crude, diesel, gasoline and jet fuel Technologies towards a zerochimney refinery, with no harmful emissions (e.g. CO, SOx, NOx): – Refinery sour gases (e.g. H2S and NH3) to Sulphur and Hydrogen (S.O.A.P.™ process) – Electrification of fired heaters – Flare gas recovery b c CORPORATE PROFILE | NEXTCHEM SOLUTIONS 9
REDUCTION
LOW-CARBON HYDROGEN IN O&G REFINING Different feedstocks for different technologies, different technologies for different opportunities. CO2 Capture CO2 Capture and Valorization Circular Hydrogen™ Waste / RDF MARKET AND UTILIZATION TECHNOLOGY FEEDSTOCK Green Hydrogen Electric Blue Hydrogen™ Renewables Natural Gas Electrolysis Electrical SMR H2 Gasification Waste Biogas / Flue Gas / Geothermal / Amb. Air Bio-refineries & Refineries Industrial Users Heavy-duty Mobility Synthetic Natural Gas Methanol, Crude Gasoline, Jet-fuel, Diesel e-fuels CO2 a “a feedstock to produce fuels with a lower carbon intensity and a premium value” “a mean to reduce the refinery emissions (CO2, CO, SOx, NOx)” Low-Carbon Hydrogen Value Propositions for O&G Refining CORPORATE PROFILE | LOW CARBON HYDROGEN 10
LOW-CARBON HYDROGEN PRODUCTION: ALTERNATIVE TECHNOLOGIES Note: (1) vs. conventional SMR Grey Hydrogen, up to 100% achievable with CO2 capture. (2) vs. conventional SMR and waste incineration, up to 100% achievable with CO2 capture. a CORPORATE PROFILE | LOW CARBON HYDROGEN 11
AMMONIA REVAMPING – GREEN H2 TO DECARBONIZE FERTILIZERS AIR H2-N2 AMMONIA PLANT URBAN AREA REFORMER FLUCTUATING ENERGY DEMAND FLUCTUATING SUPPLY + STORAGE ISSUES METHANE RENEWABLE ENERGY NH3 ELECTROLYZER H2 WATER From PROCESS Green H2 from electrolysis can supplement the traditional reformer’s H2 production in order to obtain partially Green Ammonia, achieving: • Lower footprint • Maximizing RES utilization rate MARKET AND/OR INTERN AL USE CORPORATE PROFILE | GREEN AMMONIA AND GREEN HYDROGEN SOLUTIONS 12
CO2 CAPTURE AND VALORIZATION “decarbonization of existing assets through the recovery of CO2 from flue gas or ambient air” “conversion of CO2 to carbon neutral fuels or for permanent storage” CO2 Capture and Valorization Value Propositions for O&G Refining CO2 Capture in Maire Tecnimont Group ✓ working with best-in-class technology licensors across the whole value chain ✓ enabling the exploitation of the availability of low-cost renewable energy to produce carbon-neutral e-fuels from CO2 ✓ full Project Development and EPC contractor capabilities CO2 Valorization in Maire Tecnimont Group in Ammonia plants 17,000 TPD of CO2 recovered Equivalent to more than 8 EPC in Oil&Gas and Refinery 6,000 MMSCFD of sour gas treated Equivalent to more than 7 EPC from Flue Gas 2,000 TPD of CO2 recovered Equivalent to more than 5 EPC b CORPORATE PROFILE | CO 2 CAPTURE AND VALORIZATION 13
CO2 CAPTURE AND VALORIZATION: CARBON NEUTRAL E-FUELS Renewable Energy Sources (RES) Electrolyzer Green Hydrogen Carbon Neutral e-crudes CO2-to-Liquids H2 CO2 Liquids logistic by trucks CO2 Source MARKET CAPTURE AND UTILIZATION REFINING FEEDSTOCK Refining in existing assets to increase decarbonisation Mobility & Aviation Petrochemical Feedstock ❑ Producing e-crude for the production of carbon neutral e-fuels, allowing the decarbonization of the aviation industry and mobility sector ❑ Modular small to medium scale standalone plants for the conversion and storage of cheap RES into high-value carbon neutral liquids ❑ Only feedstocks required are water and air: possibility to store and valorize the low-cost RES, even in stranded context ❑ Using the hydrocarbons as a feedstock for steam crackers and polyolefins plants could result in a medium-term storage of CO2 in durable plastics RES CO2 AS RES VECTOR Small scale e-gasoline and e-diesel production plant Geothermal Flue Gas Direct Air Capture b CORPORATE PROFILE | CO 2 CAPTURE AND VALORIZATION 14
EMISSIONS REDUCTION THROUGH THE ELECTRIFICATION OF FIRED HEATERS c “zero-chimney and zero-emissions, redefining the skyline of the refinery of tomorrow” Emissions Reduction Value Propositions for O&G Refining Refinery fired heaters electrification From fired process heaters, to electrical ones: ✓ flameless heaters for a better temperature control and a safer refinery ✓ off-gas recovery to extract additional value from the barrel 0 EMISSIONS ACHIEVABLE SAFER REFINERY CO NOx SOx CO2 from today… …to tomorrow RUN REFINERY ON RES Concept under development in the Maire Tecnimont Group, leveraging on the long-standing experience and know-how in fired heaters design. CORPORATE PROFILE | EMISSIONS REDUCTION 15
1. Maire Tecnimont Group 2. NextChem company introduction 3. Carbon and Emissions Reduction 4. Circular Economy 5. Biofuels CORPORATE PROFILE SUMMARY
BUSINESS CLUSTERS AND TECHNOLOGY SOLUTIONS Circular Economy Solutions Possibilities to further reduce emissions through: – Plastic Upcycling to offset direct emissions linked to traditional refineries’ operations – Non-recyclable Plastic Waste Conversion to Circular Chemicals and Circular Fuels – Pyrolysis and Depolymerization: plastics to plastics CORPORATE PROFILE | BUSINESS CLUSTERS AND TECHNOLOGY SOLUTIONS 17
FROM UPSTREAM WASTE SORTING TO PLASTIC WASTE VALORIZATION SYNTHETIC CRUDE OIL Rigid Plastic Waste Near to prime, post consumer post industrial waste H H H H H H Re-Polymerization Upcycled Rigid Plastic Products FEEDSTOCK TECHNOLOGY END PRODUCT Non-Recyclable Flexible Plastic Waste 1 3 Municipal Solid Waste MRF / PRF (Material Recovery Facility – Plastic Recovery Facility) Selected streams for further downstream valorization Sorting Plants for Undifferentiated Collection Systems Recovery Platforms for Separate Collection Systems 2 ADVANCED SORTING AND MECHANICAL UPCYCLING ADVANCED CHEMICAL RECYCLING Regenerated FLAKES Compounded GRANULES Diesel-like Fuel FEEDSTOCK END PRODUCT SYNGAS CONVERSION HARD-to-MANAGE Waste 4 WASTE GASIFICATION CIRCULAR CHEMICAL COMPOUNDS H2, CH4, CH3OH etc… CORPORATE PROFILE | WASTE VALORIZATION 18
MYREPLAST INDUSTRIES 40KT/Y UPCYCLING PLANT – ITALY https://www.youtube.com/watch?v=z4hGUcTRaAU CORPORATE PROFILE | MYREPLAST INDUSTRIES 19
INTEGRATED TECHNOLOGY: FROM SORTING TO COMPOUNDING HIGH EFFICIENCY PROCESS • Combining proven state-of-the-art technologies in a highly efficient process • Mechanical Grinding, Optical Sorting, Washing, Color Separation • Formulating and compounding step for tailored material performance • Bridging the gap between recycled plastics and virgin polymers UPCYCLING PROCESS HIGH FLEXIBILITY THROUGH ADVANCED SORTING • Sorting a range of polymer types: PP, HDPE and LDPE, PS, ABS, PA • Rigid plastics from urban and industrial Post-Consumer sources Treating various polymer from post-consumer and post-industrial sources Achieving high purity products and a recovery rate of >95% High performance products with consistent quality Combining mechanical recycling and chemical modification to obtain high performance and purity CORPORATE PROFILE | FROM SORTING TO COMPOUNDING 20
