Mr. Ofer Vicus reports

ADURO SIGNS MOU TO DEVELOP A COMMERCIAL LICENCE PACKAGE FOR HYDROCHEMOLYTIC™ TECHNOLOGY

Aduro Clean Technologies Inc.'s wholly owned subsidiary, Aduro Energy Inc., has signed a non-binding memorandum of understanding (MOU) with a leading global engineering, procurement and construction (GEPC) company to jointly develop a comprehensive commercial licensing package for Hydrochemolytic technology (HCT) to support deployment across multiple markets.

The MOU follows several months of technical and commercial discussions between Aduro and the GEPC, including the sharing of preliminary technical information and evaluation of pathways to establish a commercial licence package.

The MOU establishes a framework and stage-gated activities to support the development of the technology and of a commercial licensing model for HCT. It also covers a pre-engineered plant concept that the GEPC could use to design and build industrial plants for the chemical recycling of mixed and contaminated postconsumer plastic waste that is not suitable for mechanical recycling.

The GEPC is one of the top global engineering, procurement and construction (EPC) organizations. It operates across multiple continents and has extensive experience in designing and delivering complex process plants for energy and chemical sectors. It also has a long record of working alongside technology licensors to translate process technologies into commercial licence offerings. Work under the MOU is expected to combine the company's chemistry and process know-how with the GEPC's advanced engineering and project-delivery capabilities to support modular, configured and repeatable plant designs for future customers.

The MOU's final objective is a jointly developed commercial HCT licence package and an associated licence driven business program for HCT-based plastic recycling plants. The licence business would set out how HCT solutions for advanced chemical recycling of plastic waste are marketed, priced, delivered and supported for customers.

The current MOU activities and potential collaboration with GEPC are designed to fit within the HCT scale-up pathway. This includes the first-of-a-kind (FOAK) industrial plant that is targeted to be realized at the Chemelot Industrial Park in the Netherlands. Data and operating experience from the current next-generation process (NGP) pilot plant and the planned FOAK industrial plant are expected to inform the engineering basis for the licence package. By combining operating data and process insight from HCT with the GEPC's execution capabilities and global project delivery experience, the parties aim to reduce technical and delivery risk and enable a licence model that supports future HCT based projects at industrial scale.

"This MOU is an important step in the commercialization road map for Hydrochemolytic technology," said Ofer Vicus, chief executive officer of Aduro. "Aduro has been clear that licensing is one of the key channels in its go-to-market strategy and this MOU supports that direction. Working with a leading global EPC company helps translate HCT into a commercial licence package and a repeatable plant concept that customers can evaluate as an industrial project. The NGP pilot plant has recently transitioned to operating campaigns and site selection for the FOAK industrial plant has been finalized. This progress supports the stage-gated work program contemplated under the MOU. Over the past few months, teams from Aduro and the EPC company have aligned on technical requirements and the execution pathway for the next phase of work. I appreciate the effort on both sides, and I want to thank everyone involved for the work that brought us to this point."

The MOU is non-binding and does not create any obligation on either party to proceed with any particular transaction. Any work under the framework will be subject to mutually agreed scopes of work, and each step of the collaboration, including the development of the licence package and any licence business, will be subject to technical results, financing, completion of definitive agreements and the approvals of the parties' respective governance bodies.

About Aduro Clean Technologies Inc.

Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The company's Hydrochemolytic technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.

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