1. NEWCO-Joint Venture Model
organisation
PTFPlusOne
Ltd/SPV
Newco
General Partner
PTF-Production
Refinery
lean structure
2
Synergies

2. PTF People
Executive
• Nina Gallois CEO (LU/CH) ZFS AG/CPW PlC
• Jelmer Klaassen COO (NL) Government/ABNAmro/Engineering Delft
• Rick Graves (Houston, US) Chevron
Non-executive
• Prof. Helyette Geman (UK) Commodities/Trading oversight (Johns Hopkins, Birkbeck)
• Annemie Turtelboom (BE) Former 1st.Minister Finance/Justice/Energy Belgium 2015
• Rudy Goetzee (NL) Shell/Reliant
• J Stack (Ireland) Celtic Shipping
Shareholders/Significant Control
Gallois/Lherault/Courtney
12-5-2014 3

3. Business case
Newco/Joint Venture
• PTF existing revenues from traditional refining/BAU activities
• Investment planned into further plant 2016/17
• Standalone LSMGO/ISO 8217 Production: adding 32 Mio p/a ebitda in full
steady state production- max 1, plus 1 further planned (Ireland, UK, Germany)
• Outright licensing of further LSMGO Plants- max 4 EU/CIS
• Revenue sharing with licensees: max 2 (of 4), inc. OEM manufacturer(s)
• Partnering with chemical recycling companies: Glyeco, DSM, Haltermann
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4. PTF process: Raw material trading and re-processing
hydrocarbons/oil
Consumer
phase
as nondurable goods
hydrocarbons
Collection/
recovery
Processing
PTF
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5. Partnering
• Ince & Co- Maritime Legal/Mason Hayes & Curran- General Counsel
• Technip SA- Oil&Gas- Plant Engineering/Procurement/ Construction (EPCm)
• Steinbeis Institute - Wax and Paraffin off-set
• Ettrickhall UK- Waste acquisition for PTF
• Marsh Rotterdam-Underwriting/Insurance/CAR/LoR
• Corelab- Test reference /PTF Petroleum Refinery Process and Distillation
Recovery
• Jiskoot- Maritime Fuel Testing and Certification
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6. PTFOne: Legislation-driven since 2011:
“Sulphur Emission Controlled Areas”
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Source:
http://ec.europa.eu/transport/modes/maritime/events/doc/2011_06_01_stakehold
er-event/item2.pdf

7. Enforcement due in 2015-2020
With 0.1% sulphur fuel becoming mandatory
across North European and Baltic waters in
2015 enforcement will be a key factor says fuel
tester Veritas Petroleum Services (VPS).
Echoing the concerns of shipowners such as
those behind the Trident Alliance Eirik
Andreassen, managing director of VPS
(formerly DNVPS) said: “Enforcement is one
the key areas going forward.” He noted that,
“Some shipowners are very concerned about
consistent enforcement.”
Source: http://www.seatrade-
global.com/news/americas/enforcement-key-factor-in-01-sulphur-
cap-in-europe-vps.html
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8. Process(es): “Plastic “ to “fuel”
PTFOne operates:
- Polymeric cracking by catalytic conversion, also
suitable for higher levels of contamination-waste into
fuel through replaceable catalyst-cartridges
- Catalytic depolymerisation process for plastic
conversion to fuel
- Rotary drum gasification system incl. gas cleaning for
processing by-products and production of E-power and
thermal energy
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9. Process general PFD part 1
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10. Process general PFD part 2
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11. End of Life processing
The conversion efficiency to fuel
depends on the specification of the
input material
Graph: Typical yield of different types of
input
0%
20%
40%
60%
80%
100%
100% 80% less % low %
Yield
HC content
Typical yield examples
clean plastic
polluted plastic
RDF tires
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12. End of Life Plastic processing
EOL plastics from:
- HH Collecting
system
- Agri
- Production waste
- Landfill mining
Pre-treatment
-Shredder
-Separation
Catalytic
Depolymerisation,
Thermal
Cracking plus
catalytic
conversion
Gasification
plus energy
production
Product
-LSMGO
Plastics
By-products
Product: Fuel
By-products
E + Th. energy
In to process
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13. Sankey flow diagram @ 200 kTon/yr input
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14. Sankey flow diagram @ 400 kTon/yr input
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15. Plastic: quantities in EU
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16. Available financing
For the realization of a 200 KT plant in the EU/Ireland:
-PTFPlusOne Ltd/SPV. : (€ 8 MM paid up capital)/€ 150 MM in equity and
110M debt finance available
Parameters
8 PTF plants (=24 lines per location) to 66% yield to hydrocarbons 198,000
ton / yr =138,847,500 ltr/yr (including infeed acquisition costs)
Ebitda
€ 32MM per annum (on basis of combined PTF processes, inc. gasefication
units)
Development period: 10 months lead-time plus re-engineering=> 14
months to full steady state (while build and test are mutually phased per
modular plant)
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17. PTF: risk management approach
It is PTF’ s approach to manage operational and financial risk by way of redundancy
and replication.
Redundancy and Replication integrated into design and operational process
- 2 parallel fuel processing techniques for an increased range of input materials.
- Additional gasifier for processing by-products into energy.
Full outsource EPCm and Turnkey delivery (and revenue assurance) of Plant by
Technip SA
- Minimum scaling of techniques/equipment assuring realistic capacity per unit/line
- Replication of independent lines to raise capacity as opposed to scaling individual
equipment and resulting in revenues in an early stage and no maintenance stops
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18. UK/Ireland: implementation 1/2
Location: - requirements
- Dow process accredited
- Traditional (medium scale) refinery capacity in fss
operation/processing plant
- Accessible by road, rail, sea
- Storage
- Human resources and loyal trained workforce
Synergistic opportunity:
- Utilities as power, water, gas
- Waste water treatment
- Energy
- Reduced production costs refinery
- Contract blending and testing
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19. UK/Ireland: implementation
synergies contd. 2/2
-Exchange of energy
- reduced capital req’s due to full integration
- reduction of intake of crude by up to 7%
- high-value HC special skillsets available through
refinery existing personnel
- re- optimisation of surplus utilities at refinery
- combined chemical and laboratory facilities
- refinery human resources extended to PTF
- corporate overhead dilution
- joint-marketing
- strategic investment geographically and
economically
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