#1ADURO CLEAN TECHNOLOGIES CSE: ACT OTCQB: ACTHF FSE: D950 www.adurocleantech.com TM Corporate Presentation March 2022#2FOREWARD LOOKING STATEMENTS DISCLAIMER This presentation (the "Presentation") of Aduro Clean Technologies Inc. ("Aduro" or the "Corporation") and the material contained herein is for information purposes of the recipient only and shall not constitute an offer to sell, or a solicitation or an offer to buy, any securities of the Corporation. There are substantial risks associated with investing in development stage clean energy technology companies. Potential investors should seek advice from a qualified financial dealer prior to considering any investment in Aduro Clean Technologies Inc. No securities commission or similar authority has in any way passed on any of the information contained in this Presentation. The information contained herein is subject to change without notice and is based on publicly available information, internally developed data and other sources. FORWARD-LOOKING STATEMENTS Where any opinion or belief is expressed in this Presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion or belief only. This Presentation should not be construed as legal, financial or tax advice to any individual, as each individual's circumstances are different. The recipient of this Presentation should consult with its own professional advisors regarding its particular circumstances. Unless defined herein, all capitalized words shall have the meanings ascribed to them elsewhere in the Presentation. This Presentation contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Forward-looking statements in this Presentation may include, among other things, statements about: our business plans and strategies, including performance expectations; general expectations regarding the growth of, trends in and projected total addressable markets for the upcycling of plastics, tire rubber, and foams; and the upgrading of renewable oils and bitumen; expected opportunities for potential market share penetration; expectations regarding the potential impacts of climate change; expectations regarding the potential impacts of climate change legislation; our plans for potential future products and services; our potential future intellectual property; expectations regarding key areas of growth in the industries we plan to serve; and our future growth strategy. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Corporation currently operates and expects to operate in the future, including: the potential demand for our products and services; our ability to deliver our technology in a scalable manner; our ability to develop technological improvements; anticipated costs and our ability to achieve our proposed goals; our ability to attract and retain experienced personnel and executive leadership; our ability to anticipate the needs of our future customers; sales opportunities available to us; that historical market trends will continue in the future; the creditworthiness of our contract counterparties; that our products and services will be competitive; our ability to obtain all necessary intellectual property protections for our products and services; and our ability to access future capital investment, as required. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be inaccurate or otherwise incorrect. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Forward-looking statements in this Presentation are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: our ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other better financed competitors develop and release competitive products; changes in laws and regulations; legal and regulatory uncertainties; our dependence on our intellectual property rights; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our failure to deliver our technology in a scalable fashion; our failure to develop new and innovative products and services; our reliance on novel technologies and processes; the impact of technological changes on our products and industry; our failure to develop technological upgrades and new technologies; our ability to attract, retain and motivate qualified personnel and key employees; failure of counter-parties to perform their contractual obligations; and business, economic and market conditions; demand and pricing for our products. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this Presentation. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Presentation by you or any of your representatives or for omissions from the information in this Presentation. THIRD PARTY INFORMATION This Presentation also contains or references certain market, industry and peer group data which is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Corporation believes these publications and reports to be reliable, it has not independently verified any of the data or other statistical information contained therein, nor has it ascertained or validated the underlying economic or other assumptions relied thereon by these sources and cannot, and does not, provide any representation or assurance as to the accuracy or completeness of the information or data, or the appropriateness of the information or data for any particular analytical purpose, and accordingly, disclaims any liability in relation to such information and data. The Corporation has no intention and undertakes no obligation to update or revise any such information or data, whether as a result of new information, future events or otherwise, except as required by law. TRADEMARKS AND TRADE NAMES The Corporation owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its business. Solely for convenience, the trademarks, service marks, and trade names referred to in this Presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that the Corporation will not assert, to the fullest extent under applicable law, its right to the applicable trademark, service mark or trade name. ADURO CLEAN TECHNOLOGIES 2 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#3GG Waste plastics is a growing global issue creating significant demand for recycling/upcycling solutions. Existing.technologies are challenged with environmental, operational, and economical limitations. " - - A Novel Solution To Plastic Pollution Forbes ADURO HAS DEVELOPED THE NEXT GENERATION TECHNOLOGY TO ADDRESS THESE LIMITATIONS. ADURO CLEAN TECHNOLOGIES M COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#4A NEXT GENERATION TECHNOLOGY PLATFORM TURNING WASTE INTO HIGH VALUE PRODUCTS Hydrochemolytic™ Technology Platform High yield, low energy, strong environment benefits Turn industrial plastic waste into high value products already on site Modular Design, fit for B2B Average 6 years payback Ideal for circular economy Enable business to achieve ESG leading performance Multiple deal avenues Strong Patent Strategy Seven Patents, 3 issued, 4 pending More in Development Hydro Water Chemolysis Chemical deconstruction of molecules Multiple Market Applications Bitumen Upgrading, Renewables Upgrading & Plastics Upcycling + Others Global Demand for Chemical Innovation ADURO CLEAN TECHNOLOGIES + COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#5MILESTONE ACCOMPLISHMENTS • Third Party, Independent Technology Validation Report of technology is available upon request. Modular Go To Market Strategy A three-part production strategy is in place to build scalable facilities to produce ~10,000 tons of fuel and/or high value specialty chemicals annually. Global Engagements Global interest to build plants around the world. Strong Management & Board • Addition of Experienced COO Expanded Board with Independent Director Established Customer Trials Program Near term revenue from feedstock assessment Growing pipeline of interested collaborators 5 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#6• THREE MARKET VERTICALS • Deconstruction of macromolecules is common to all market applications. Tune chemistry by controlling the interplay of processing parameters. Large Total Addressable Markets PILOT STAGE PILOT STAGE ADVANCE RESEARCH Hydrochemolytic Plastics Upcycling, HPU Upcycling End-of-Life Polymers to Chemicals & Fuels TAM $ 45B Globally Hydrochemolytic Bitumen (petroleum based hydrocarbon) Upgrading, HBU Upgrading Heavy Crude & Asphaltene to Lighter Crude TAM $50B Globally Hydrochemolytic Renewables Upgrading, HRU Upgrading Renewable Oils to Renewable Diesel TAM $ 121B Globally Source; 123 1) https://www.iea.org/reports/oil-market-report-february-2022 2) 3) https://www.researchandmarkets.com/reports/5317153/global-plastic-recycling-market-2021-2026-by https://www.globenewswire.com/news-release/2022/01/19/2369236/0/en/Biofuels-Market-Size-to-Surpass-US-201-21-Billion-by-2030 ADURO CLEAN TECHNOLOGIES COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#7CURRENT APPROACHES TO PROCESS WASTE PLASTICS CHEMOLYSIS: A New Chemical Recycling Approach to Convert Diverse Feedstock THERMOLYSIS SOLVOLYSIS SOLVATION CHEMOLYSIS Licella™ BRIGHTMARK C CreaSolv® Process CARBIOS Unilever MURA PLASTIC P&G > PURECYCLE Λ ADURO TECHNOLOGY ENERGY irc CLEAN TECHNOLOGIES REGENYX agilyx 6 QUANTAFUEL GREENMANTRA TECHNOLOGIES TYTON BioSciences Resynergi evolutionary energy recovery systems grεn REDUCE, REUSE, RECYCLE JEPLAN Procter&Gamble APK newcycling AQUASIL IN synthetic fibres and polymers *At least 70 other companies and university-affiliated institutes globally are investigating the space, see Closed Loop Partners and Nova-Institute for more information. ** Excluded above are destructive decomposition/combustion or non-chemical processes, such as physical presorting. ADURO CLEAN TECHNOLOGIES 7 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#8HPU: HYDROCHEMOLYTIC PLASTICS UPCYCLING PROCESS CONDITIONS AND MASS BALANCE POLYETHYLENE PROCESSING CONDITION Water to plastic waste ratio (w/w) Reactor operating pressure (psi) Reactor operating temperature (°C) 2:1 to 4:1 2000 3000 300-400 100% HPU 80% 60% 40% 20% 6% OVERALL MASS BALANCE 90% 0% Liquid Gas Solids Gaseous yield Liquid yield Solids/ash 4% ADURO CLEAN TECHNOLOGIES 00 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#9HPU HYDROCHEMOLYTIC PLASTICS UPCYCLING Polyethylene Polypropylene Polystyrene Hydrochemolytic Upcycled Polyethylene CRACKER FEED MAKEUP Post-Consumer Recovery fresh pressed Juice. Fresh pressed Juice fresh pressed Juice. CRADLE TO CRADLE POLYETHYLENE LIFECYCLE Ethylene Cracker Molded Polyethylene Products Ethylene Polyethylene ADURO CLEAN TECHNOLOGIES の COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#10HPU: HYDROCHEMOLYTIC PLASTICS UPCYCLING Use Case Illustration of Economics - Polyethylene CAPEX $22,500,000 AT 25 TONS/DAY 1 * 25 8,500 TONS TRAIN REACTOR TONS ANNUALLY CAPEX $202,500,000 AT 225 TONS/DAY 9 * 25 76,500 TONS TRAIN REACTOR TONS ANNUALLY OPEX $(2,817,788) REVENUE $7,739,760 GROSS MARGIN $4,921,972 NAPHTHA KEROSENE LUBRICATING OIL HEAVY FUEL OIL DIESEL OPEX $(21,892,094) REVENUE $69,657,840 NAPHTHA KEROSENE DIESEL HEAVY LUBRICATING FUEL OIL OIL LICENSEE $3,374,020 GM 44% Payback 6.7 yrs ADURO $1,547,952 CLEAN TECHNOLOGIES GROSS MARGIN $47,765,746 LICENSEE $33,834,178 GM 49% Payback 5.99 yrs ADURO CLEAN TECHNOLOGIES $13,931,568 ADURO CLEAN TECHNOLOGIES COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT OL#11HPU: USE CASE ILLUSTRATION OF ECONOMICS - POLYETHYLENE 25 Tons/day = 1 * 25 Tons Train Reactor 8,500 Tons Annually 000 75 Tons/day = 3*25 Tons Train Reactors 25,500 Tons Annually 225 Tons/day = 9*25 Tons Train Reactors 76,500 Tons Annually LICENSING OWNED & OPERATED LICENSING OWNED & OPERATED LICENSING OWNED & OPERATED CAPEX 22,500,000 22,500,000 67,500,000 67,500,000 202,500,000 202,500,000 Revenue ** 7,739,760 7,739,760 23,219,280 23,219,280 69,657,840 Operating Expense (2,817,788) (2,817,788) (7,637,365) (7,637,365) (21,892,094) Feedstock Acquisition * (1,700,000) (5,100,000) 69,657,840 (21,892,094) (15,300,000) Aduro Licensing Fee ** (1,547,952) (4,643,856) (13,931,568) Gross Margin 3,374,020 3,221,972 10,938,059 10,481,915 33,834,178 32,465,746 GM % 44% 42% 47% 45% 49% Payback 'years' 6.67 6.98 6.17 6.44 5.99 47% 6.24 For Aduro: Gross Margin CAPEX Required Payback 'years' 1,547,952 N/A N/A 3,221,972 4,643,856 10,481,915 13,931,568 32,465,746 Yes 6.98 N/A N/A Yes N/A Yes 6.44 N/A 6.24 * The cost for washed and ready to process feedstock of polyethylene in North, Central, and Latin America ranges from the equivalent of $50 to $250 CAD per ton depending on various factors. The above use case illustration is assuming a cost of $200 per ton of feedstock. ** Revenue is calculated with the assumption of 80% yield (vs. 90%) and the licensing fee is calculated based on 20% of gross Revenue. ADURO CLEAN TECHNOLOGIES COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT LL#12PATH TO COMMERCIALIZATION Pre-Pilot "Continuous Flow" REACTOR 2 (R2) 2021 Engage Customers & Enter 3rd Party Partnerships Customers' Demonstrations & Discussions Independent 3rd Party Review & Validation Engage Marketing and Environment Consultancy Firms Completed In progress/near completion 2022 Increase Customer Engagements & Advance Partnerships Pre-Pilot unit(s) REACTOR 3 HBU (R3) 5-10 Barrel BBL/Day HPU (R3) 10 Tons/Day Pilot Design & Engineering plans 2023 Pre-Pilot unit(s) REACTOR 3 Pilot Plants, Commissioning ADURO CLEAN TECHNOLOGIES 12 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#13LONG TERM MILESTONES & EXPANSION PLAN CUSTOMER TRIALS & PILOT UNIT(S) BUILD-OUT AND COMMISSIONING Initiate Customer Trial Program Commission • • First Pilot Unit Expand Customer Trial Program 1st Territory Hub outside of Canada Design, Engineering, and Planning Commercial Unit • COMMERCIALIZATION PROGRAM & GEOGRAPHIC EXPANSION Commission Initial Multiple Commercial Commercial Unit(S) Units 2nd Territory Hub outside of Canada Operational and scaled to customer capacity 3rd Territory Hub outside of Canada • Market development • 4th Territory Hub outside of Canada MAY MAY MAY MAY 2022 2023 2024 2025 MAY 2026 MAY 2027 ADURO CLEAN TECHNOLOGIES COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT ει#14LONG TERM MILESTONES & EXPANSION PLAN After the first hub in Canada, each new hub is a duplicate of proven operations, cutting costs and reducing risk. TODAY Ongoing discussions at various stages with over 13 organizations across 7 countries. North America Commercial Units(s) Commissioning & Expansion 30 Tons / Day 120 Tons / Day → Latin America Commercial Units(s) Commissioning & Expansion 30 Tons / Day 120 Tons / Day → Europe Commercial Units(s) Commissioning & Expansion 30 Tons / Day 120 Tons / Day → Far East Commercial Units(s) Commissioning & Expansion 30 Tons / Day 120 Tons / Day → ADURO CLEAN TECHNOLOGIES COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#15PROFORMA FINANCIAL FORECAST $100.0 $80.0 $60.0 Non-Recurring Revenue (Customer Trials) Recurring Revenue Adj. EBITDA (Exc. Non-cash SBC) $40.0 Customer Trials 1st Pilot Buildout Customer Trials Multiple Pilots $20.0 Initial Commercial Units Break Even Point $31.1 Multiple Commercial Units Commissioned $78.6 $46.4 $14.3 $0.9 $- $0.9 $1.0 $0.9 $0.9 $0.5 $2.5 $(2.8) $(4.7) FYE/May 2023 FYE/May 2024 FYE / May 2025 FYE/May 2026 FYE/May 2027 $95.0 ADURO CLEAN TECHNOLOGIES 15 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#16CAPITAL STRUCTURE STOCK LISTING SHARES OUTSTANDING (B/FD)* INSIDER OWNERSHIP CSE: ACT | OCTQB: ACTHF | FSE: 95D0 48,942,087/76,557,155 48 % WARRANTS / OPTIONS OUTSTANDING: SPECIAL WARRANTS (FD when released from trust) MARKET CAPITALIZATION (February 28, 2022) 8,856,741/5,424,999* 13,333,328 ** $34,260,000 * Warrants are exercisable at an average price of $0.57 (range $0.30-$0.80), with 32% held by Insiders and Options are exercisable at an average price of $0.68 (range $0.65-$0.80), with 61% held by Insiders & senior management. ** Class B Special warrants were distributed in accordance with the terms of the securities exchange agreement and will only be converted to common shares when the second milestone is achieved. 86% of the Special warrants are issued to Insiders. 16 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#17WHY INVEST NOW? Unique patented technology that is internally developed and has been independently validated An expected high output yield of > 80% and operating margins nearing 50% Key engagements with Switch Energy in Ontario and Brightland's in the Netherlands for future pilot sites Ongoing discussions with 13 potential customers, across 7 countries, including Fortune 500 companies Revenue ramp-up through commercial deployment and expected to achieve Annual Recurring Revenue of +$90M with EBITDA Margins of +80% by Year 5 Management is fully aligned with shareholders with c. 50% ownership and eager to increase shareholder value Over 10 years of development, application expansion, and rigorous testing with total capital/resources invested in the Technology and IP to date > $50M Undervalued when compared to our peers with comparable valuations north of +$1B that shows the Company is significantly undervalued with a $35M Market Cap HIGH GROWTH INVESTMENT OPPORTUNITY ADURO CLEAN TECHNOLOGIES 17 COPYRIGHT © 2022 | ADURO CLEAN TECHNOLOGIES INC. | CSE: ACT#18ADURO CLEAN TECHNOLOGIES TM CONTACT Ofer Vicus, CEO [email protected] Abe Dyck, VP Business Development [email protected] CSE: ACT | OTCQB: ACTHF | FSE: D950 www.adurocleantech.com THANK YOU!