Southern, Axens partner to scale biomass-based SAF in US

Axens is a global provider of process technologies, equipment, catalysts, and services for the conversion of oil and biomass into cleaner fuels, renewable fuels and bio based chemicals, natural gas treatment, and carbon capture solutions. The company's portfolio includes more than 3,000 industrial units under license worldwide and a full suite of solutions from feasibility studies through unit start up and lifecycle support.

Under the MoU, Southern is responsible for leading overall project development, including site work, permitting, feedstock and offtake engagement, and coordination with local stakeholders. Axens is slated to serve as licensor of record for key technologies across the value chain, including CO2 capture and conditioning and SAF production technologies, with the goal of advancing a de risked, bankable pathway from regional biomass to low carbon fuels. The parties expect to focus first on the Louisiana facility, then evaluate additional opportunities in other regions as appropriate.

In parallel with the Axens collaboration, Southern has created an experimental digital token referred to as "$SAF." The current concept is to use $SAF over time as a data layer that helps track and visualize production from Southern's facilities, starting with limited use at the pilot plant and, subject to further development and approvals, extending to the flagship Louisiana project. The framework is intended to link token issuance and retirement to measured output and associated operational data, with the goal of improving traceability around SAF production and providing an additional lens on process performance and optimization, without changing how the underlying fuels are produced, sold, or accounted for.

“Our strategic alliance with Axens is an important step in our mission to support the United States in strengthening its energy leadership and advancing synthetic fuels. Axens brings a complete, proven suite of technologies from CO2 capture through SAF production, together with deep experience executing projects around the world. The best part is we are providing a solution that will compete globally that provides synthetic aviation fuel at jet parity without subsidies” said Nevin Smalls, Chief Strategy Officer of Southern Energy Renewables

“We are providing to Southern Energy Renewables a complete suite od technologies from the capture CO2 until the production of SAF to remove technology risk form the equation. We plan to share our extensive knowledge and experience in project development gathered from projects developed worldwide in the emerging SAF and CO2 spaces We believe in collaboration, and that partnering spirit is key to navigating the first phase of the project all the way to the operation of the plant. Together, we can turn technology and commercial innovation into industrial reality” quoted David Schwalje, VP of Emerging Market Development at Axens.

The MoU is non binding and outlines the framework for cooperation between Southern and Axens. Specific projects, contractual terms, and implementation steps remain subject to further negotiation, due diligence, and approvals by the parties and, where applicable, by regulators and financing partners. Nothing in this announcement is, or should be construed as, an offer to sell or a solicitation of an offer to buy $SAF or any other digital asset.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Cautionary Note Regarding Forward-Looking Statements

This communication contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that involve substantial risks and uncertainties including statements regarding the development of Southern's proposed SAF plant, Southern's ability to produce and sell SAF in commercial quantities, and Southern's ability to obtain financing in order to develop its SAF plant.

Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by words such as "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar expressions that concern Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that Southern's SAF plant development is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that Southern does not obtain sufficient financing to develop the plant; (4) the inability of the parties to agree on mutually acceptable definitive agreements; (5) the occurrence of events, changes or other circumstances that could give rise to the termination of the MoU or any related negotiations, or that could result in disputes or litigation relating to the

interpretation, enforceability or performance of the MoU; and (6) other economic, business, competitive, operational or financial factors beyond management's control.

The MoU does not obligate the parties to consummate any transaction. The consummation of the proposed transaction remains subject to the negotiation, execution and delivery of definitive agreements. There can be no assurance that any definitive agreements will be entered into or that the proposed transaction will be consummated on the terms described herein or at all.

Any forward-looking statements speak only as of the date of this communication. Southern does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on Southern's website should be deemed to constitute an update or re-affirmation of these statements as of any future date.

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ALCHEMPro News Desk (JP)