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Commenced the work of preparing the documents and supporting materials required for a forthcoming application for plan negotiations within the framework of the reorganisation. Enviro assesses that the secured financing, together with the measures taken as set out above and the ongoing cash flow from the business, creates the conditions for a successful completion of the reorganisation and the achievement of a long-term sustainable capital structure.

The facility is also expected to generate approximately 21,000 tonnes annually of tire-derived oil through the company's pyrolysis process.

Scandinavian Enviro Systems has announced that shareholders approved a new financing authorization at an Extraordinary General Meeting held on May 21, 2026, while the company also confirmed details of its upcoming Annual General Meeting scheduled for June 23 in Gothenburg.

According to the company, the court has now determined that the reorganization should proceed as planned.

According to the meeting notice, the board is requesting authorization to issue new securities on market terms, including the option to accept payment in cash, in kind, by offset, or under other conditions. The company said any issuance that deviates from shareholder preferential rights would be carried out on market-based terms, including customary discounts where applicable.

Enviro's company reorganization was granted by the Gothenburg District Court on 27 February 2026. In doing so, the District Court assessed that the prerequisites for reorganization were met and that there were reasonable grounds to assume that the viability of the business could be secured. At the creditors' meeting on 18 March 2026, the District Court found no reason why the reorganization should not be allowed to continue.

Enviro's company reorganization was ordered by the Gothenburg District Court on 27 February 2026. According to the information received by Enviro, Infiniteria intends to request that the company reorganization be terminated with immediate effect. Infiniteria's principal grounds are that the purpose of the reorganization cannot be expected to be achieved and that it would be inequitable towards Infiniteria to allow the reorganization to continue.

As Enviro has previously communicated, Enviro has initiated a corporate reorganization and terminated the agreements that regulate the relationship and cooperation between Enviro and Infiniteria. In addition, differing views have arisen between Enviro's board representatives and the other board members on issues relating to corporate governance and the board’s work.

Infiniteria takes note of Scandinavian Enviro Systems AB’s ("Enviro") announcement today that it is terminating its joint venture agreements with Infiniteria. The proposed termination is not pursuant to any contractual rights but is stated to be pursuant to the Swedish Company Reorganization Act. Infiniteria intends to fully defend its rights under law in light of this announcement. It will take every measure to defend and protect its contractual position and to deliver on its customer commitments.