NEXTCHEM (MAIRE TECNIMONT GROUP) AWARDED PRE - FEED ENGINEERING SERVICES CONTRACT FOR THE INTEGRATED RENEWABLE HYDROGEN AND GREEN AMMONIA BY MADOQUAPOWER2X IN SINES, PORTUGAL

MILAN,Sept. 8,2022 -- Maire Tecnimont S.p.A. announces that its subsidiary NextChem has been awarded a Pre-FEED engineering services contract by MadoquaPower2X – the Portuguese/Dutch/Danish consortium led by Madoqua Renewables along with CIP's Energy Transition Fund and Power2X to develop and operate an integrated renewable hydrogen and green ammonia plant located in Sines,Portugal. The agreement was signed at Gastech at the presence of H.E. JoãoGalamba,Secretary of State for Environment and Energy – Government of Portugal.

The purpose of the Pre-FEED engineering services includes early studies,technology and process review,modularity and logistics analysis,front end loading of engineering required to undertake the permitting and licensing for the project.

MadoquaPower2Xwill use renewable energy and 500 MW of electrolysis capacity to produce annually 50,000 tons of green hydrogen along with green ammonia plant capacity of up to 500,000 kt/y with up to 600,000 t/y CO2 emissions avoided in this initial phase. It will be located in the Sines industrial zone and will generate economic growth with an activity classified as sustainable according to the latest EU Taxonomy setting up an export energy carrier value chain between the Port of Sines (Portugal) and Northwest European destinations.

JoãoGalamba,Secretary of State for Environment and Energy – Government of Portugal: "Climate neutrality by 2050 requires bold decisions on sustainable investments with a focus on energy and climate goals. We are pleased to witness this important milestone for MadoquaPower2X and Maire Tecnimont,confirming the right path to meet the goals we have set for energy transition".

Alessandro Bernini,Chief Executive Officer of Maire Tecnimont Group and NextChem: "We are proud of this agreement with MadoquaPower2X and CIP as it targets a project with a significant impact on the renewable hydrogen-based economy in Europe. This project is a great example of sustainable European energy security,connecting the renewable potential of Portugal with Northern European energy infrastructure through green hydrogen".

Rogaciano Rebelo,Chief Executive Officer – Madoqua Renewables: "We are excited to bring Maire Tecnimont and NextChem on board to accelerate the licensing and engineering phases of our project. Maire Tecnimont Group has 70 years of engineering excellence and delivered over 1,500 chemical and power plants globally,thereby demonstrating its capacity to engineer a complex first of a kind large scale electrolysis-based ammonia project".