Cyclyx Names Chris Yandell as Chief Executive Officer

OSLO, Norway – December 13, 2024 – Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) (“Agilyx” or “the company”) announces Chris Yandell has been appointed to serve as chief executive officer of Cyclyx International, LLC, a post-use plastic-to-feedstock company. The appointment is effective January 1, 2025 and marks a pivotal moment in Cyclyx’s mission to revolutionize plastic recycling. Outgoing CEO Joe Vaillancourt is retiring and will serve as a board advisor throughout 2025, ensuring a seamless transition.

“Joe transformed Cyclyx from a nascent vision to a thriving organization," said Ranjeet Bhatia, Cyclyx board chair and chief executive officer of Agilyx. "We are grateful to Joe for the significant milestones Cyclyx has achieved under his leadership. Moving forward, the board and I are thrilled to welcome Chris as Cyclyx’s new CEO. Chris’ record of managing high-performing teams and his global industry expertise make him the right person to lead the company’s next phase of growth."

Yandell has more than twenty years of leadership experience in the specialty chemicals industry, with a proven ability to navigate complex domestic and international markets. He has held significant roles with Albemarle Corporation, including chief commercial officer for refining catalysts, managing a P&L of $1 billion, and vice president of lithium operations, leading and executing strategic initiatives across the United States, Chile, Australia, and China. Throughout his career, Yandell has demonstrated a strong focus on operational excellence, strategic growth, and delivering results. Most recently, he served as senior vice president at Compass Minerals International, where he led the company's lithium business. His leadership experience also spans roles at Praxair (now Linde) and BASF.

A U.S. Marine Corps veteran, Yandell holds a BS in Chemical Engineering and an MBA from Louisiana State University. He is also a graduate of the Advanced Management Program at Harvard Business School.

"I am excited to join Cyclyx and look forward to working with the board and this accomplished team to lead the organization through this pivotal phase of transformational growth,” said Yandell. He continued, “My focus will be on developing the Cyclyx Circularity Centers and advancing the company’s mission to increase the recyclability of post-use plastic."

Cyclyx will establish a centralized office and state-of-the-art laboratory capabilities in the Houston area as the organization continues to expand its facilities and services. The company recently announced a final investment decision (FID) for a $135 million investment by Agilyx, ExxonMobil, and LyondellBasell to fund the construction and operations of a second Cyclyx Circularity Center (CCC2) located in the Dallas-Fort Worth area, with an expected startup in the second half of 2026. Located in Houston, the first Cyclyx Circularity Center (CCC1) is slated to open in 2025. Once operational, the two centers will have a combined capacity to process approximately 600 million pounds (270,000 metric tons) of plastic waste per year to produce feedstock for customers using mechanical and advanced recycling technologies.

About Agilyx
Agilyx ASA is at the forefront of plastic waste recycling, enabling the conversion of challenging post-use plastics into high-value, virgin-equivalent products. Recognizing that availability of high-quality custom feedstock is critical for scaling recycling processes, Agilyx, through its Cyclyx joint venture, provides tailored feedstock solutions to global plastic producers. By advancing from a linear "make-take-waste" model to a sustainable circular economy, Agilyx supports the transition to a low-carbon future. Our adaptable approach ensures bespoke solutions, leveraging extensive IP and Cyclyx’s feedstock expertise to meet diverse customer needs. For more information, visit Agilyx’s corporate website www.agilyx.com

For investor inquiries contact: investors@agilyx.com

About Cyclyx
Cyclyx International, LLC (“Cyclyx”) is a post-use plastic-to-feedstock innovation company and joint venture among Agilyx, ExxonMobil, and LyondellBasell. Cyclyx works across the value chain to develop innovative solutions for all types of post-use plastics. Using its proprietary technology, Cyclyx Circularity Centers will provide feedstock for both mechanical and advanced recycling applications. Cyclyx offers a wide range of programs including its brokerage service, 10to90® plastic collection programs, and large-scale feedstock supply.