CARBIOS and Wankai New Materials sign the definitive agreement establishing a strategic partnership to the large-scale deployment of CARBIOS’s PET biorecycling technology in Asia

Clermont-Ferrand (France), 2 December 2025 (8:45 AM CET). In line with the commitment signed on November 6, 2025[1], CARBIOS (Euronext Growth Paris: ALCRB) and Wankai New Materials (« Wankai »), a listed subsidiary[2] of Zhink Group, the 3^rd largest PET producer in China and 4^th worldwide, announce the signing of the definitive agreement establishing a strategic partnership for the large-scale deployment of CARBIOS’s PET biorecycling technology in Asia, with the first step being the construction of a PET biorecycling plant in China.

· The two companies have signed on 2 December 2025 the shareholders’ agreement for their joint venture, dedicated to the construction and operation of a first PET biorecycling plant in China, with a processing capacity of 50,000 tons of PET waste.

· Wankai will be the majority shareholder of this company with a 70% stake, while CARBIOS will hold the remaining 30%. The financing of the plant’s construction, estimated at €115 million, will be covered 30% by equity and 70% by debt, with all debt guaranteed by Wankai.

· The plant will be located in Haining (Zhejiang province) on site provided by Wankai, which is already equipped with infrastructure (equipment, waste treatment, etc.), thus reducing the investment cost. Construction is expected to begin during the first quarter of 2026, with commissioning targeted by the first quarter of 2027.

· CARBIOS and Wankai have also approved on 2 December 2025 the license agreement, which will be granted by CARBIOS to the joint venture upon its incorporation.

· CARBIOS and Wankai have committed to a long-term partnership with the ambition to build and operate several PET biorecycling plants in Asia. CARBIOS agrees to exclusively license its PET depolymerization technology in Asia to Wankai for a period of three years, subject to signing licenses with the latter for at least 100 kt per year of additional capacity. This term will be extended in five-year increments if additional licenses for at least 200 kt per year of extra capacity are signed.

· To strengthen the strategic partnership between the two companies, Wankai has committed to subscribe, before 2 June 2026, to a dedicated capital increase of €5 million in the share capital of CARBIOS S.A.[3], paid on the basis of an issue price per share of €8.0947, corresponding to the volume-weighted average of the last five trading days preceding the 1^st of December 2025, reduced by a 10% discount. 

[1]https://www.carbios.com/newsroom/en/carbios-and-wankai-new-materials-a-subsidiary-of-zhink-group-are-committed-to-the-large-scale-deployment-of-carbios-pet-biorecycling-technology-in-asia/

[2]Wankai New Materials is a company listed on the Shenzhen Stock Exchange (stock code:301216)

[3]As a result of this investment, Wankai may appoint a representative to CARBIOS’ Board of Directors. The completion of this investment will be subject to administrative and regulatory approvals in China.