ROLLS-ROYCE AND ALDER FUELS JOIN FORCES TO FUEL THE RACE TO NET ZERO

ORLANDO,Fla.,Oct. 19,2022 -- Rolls-Royce has signed a Memorandum of Understanding (MOU) with Alder Fuels,a clean tech developer and greencrude producer,to further test Sustainable Aviation Fuel (SAF) as it makes the critical next step on its journey to commercial scalability. The SAF,which has been produced based on Alder Fuels' proprietary greencrude technology,is being readied for global rollout as a drop-in replacement to petroleum-based jet fuel and will be a critical tool for decarbonising the skies.

The testing,which will include flight tests on a Rolls-Royce Pearl engine,will evaluate the energy efficiency,emissions criteria,and low-carbon credentials of the SAF produced from Alder Greencrude (AGC) and is another testament to Rolls-Royce's ambition to play a fundamental role in enabling the sectors in which it operates achieve net zero carbon by 2050.

Frank Moesta,SVP Strategy & Future Programmes – Business Aviation,Rolls-Royce,said,"The use of Sustainable Aviation Fuel as a low-emission solution and its global commercial deployment are essential to the decarbonisation of medium to long-haul air travel. While we are also working on electrification,hybrid-electric and hydrogen technologies as long-term alternatives,rapid decarbonisation is within reach through this critical pathway. Through our partnership with Alder Fuels,we are taking the next steps on our journey to net zero and are committed supporters of the UN Race to Zero goal of 10% SAF use across aviation by 2030."

"At Alder,we are on a path to transform energy on the global stage and partnership is key to our vision. As a pioneer in both industrial technology and sustainable aviation,Rolls-Royce will play a leading role in decarbonizing the aerospace industry. Their name is synonymous with the best of engineering," said Bryan Sherbacow,President and CEO of Alder Fuels. "Our hope is that this collaboration will not only mark an important milestone for the decarbonisation of aviation,but that it will send a strong global signal to the market that the future of sustainable flight is here and the time to transition is now."

Alder Fuels uses sustainable biomass such as regenerative grasses,forest residues and agricultural waste products to create low-carbon Alder Greencrude (AGC) that can be converted into a drop-in SAF using existing bio and petroleum refinery infrastructure. The process,which has been developed in close partnership with the US Department of Energy's National Renewable Energy Laboratory,can achieve greenhouse gas reductions of over 80 percent compared to fossil-based jet fuel.

The engine tests will assess the performance of AGC-derived SAF compared to fossil-based jet fuel to further support its performance as a drop-in replacement for traditional jet fuel and generate critical data for the development of a 100% SAF specification by ASTM International. In addition,the SAF will undergo a full lifecycle and criteria emissions assessment,and the data associated with this assessment will be transparently reported to advance global decarbonisation efforts.

Rolls-Royce has previously committed to ensuring all its Trent and Business Aviation engines are compatible with 100% SAF by 2023. All Trent and Business Aviation engines are already certified and ready to operate on a 50% SAF blend with traditional fossil-based aviation jet fuel.

About Rolls-Royce Holdings plc

Rolls-Royce pioneers the power that matters to connect,power and protect society. We have pledged to achieve net zero greenhouse gas emissions in our operations by 2030 (excluding product testing) and joined the UN Race to Zero campaign in 2020,affirming our ambition to play a fundamental role in enabling the sectors in which we operate achieve net zero carbon by 2050.

Rolls-Royce has customers in more than 150 countries,comprising more than 400 airlines and leasing customers,160 armed forces and navies,and more than 5,000 power and nuclear customers.

Annual underlying revenue was £10.95 billion in 2021,underlying operating profit was £414m and we invested £1.18 billion on research and development. We also support a global network of 28 University Technology Centres,which position Rolls-Royce engineers at the forefront of scientific research.

Rolls-Royce Holdings plc is publicly traded company (LSE: RR.,ADR: RYCEY,LEI: 213800EC7997ZBLZJH69)

Stefan Wriege

Head of External Communications – Civil Aerospace – Germany

Rolls-Royce Deutschland Ltd & Co KG

Tel +49 (0) 171 6130802

Email stefan.wriege@rolls-royce.com

www.Rolls-Royce.com

About Alder Fuels

Alder Fuels is helping to power the global clean energy transformation and race to net zero through the conversion of natural biomass into low-carbon to carbon-negative Alder Greencrude (AGC). This greencrude can then be converted into sustainable aviation fuel (SAF),other low-carbon fuels,and chemicals using existing global refinery equipment and infrastructure. Bryan Sherbacow,Alder Fuels President & CEO,has a proven record for the development and commercial deployment of novel technology,including the world's first refinery designed to produce renewable jet and military-grade fuels. Alder Fuels is backed by Honeywell UOP,United Ventures,Avfuel,Boeing,Directional Aviation,the U.S. Defense Logistics Agency,the Department of Energy (DOE),and the National Renewable Energy Laboratory (NREL).

Ian Plunkett

Chief Communications Officer

Tel +1 202-751-9338

Email Iplunkett@alderfuels.com

http://www.alderfuels.com/