Document:

EX-10.45

 Exhibit 10.45 

*** = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], 

HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE 

REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 

Strictly Private & Confidential 

AMENDED AND RESTATED OFFTAKE SUPPLY AGREEMENT 

Between 
 Nestlé Waters Management &
Technology 
 and 
 Micromidas, Inc. (dba Origin
Materials) 
 Dated May 23, 2019 
  

 TABLE OF CONTENTS 
  

							
	 1.
	    	DEFINITIONS AND INTERPRETATION	  	 	7	 
			
	 2.
	    	PURPOSE	  	 	19	 
			
	 3.
	    	AGREEMENT STRUCTURE	  	 	20	 
			
	 4.
	    	CONDITIONS PRECEDENT	  	 	20	 
			
	 5.
	    	PIONEER PLANT, PENALTIES AND DOWNSTREAM CONVERSION	  	 	22	 
			
	 6.
	    	NEW PLANT	  	 	24	 
			
	 7.
	    	PRODUCTION; QUALITY	  	 	25	 
			
	 8.
	    	PRICE, PREPAYMENT AND PAYMENT	  	 	29	 
			
	 9.
	    	QUANTITIES	  	 	30	 
			
	 10.
	    	ORDER – DELIVERY	  	 	31	 
			
	 11.
	    	CUSTOMS CLEARANCE	  	 	32	 
			
	 12.
	    	TITLE AND RISKS	  	 	32	 
			
	 13.
	    	PRODUCTION CAPACITY—SECURITY STOCK	  	 	33	 
			
	 14.
	    	PRIORITY RIGHTS TO ADDITIONAL PRODUCT	  	 	35	 
			
	 15.
	    	COMPETITIVE ADVANTAGE	  	 	38	 
			
	 16.
	    	AUDIT AND FINANCIAL REVIEW RIGHTS	  	 	40	 
			
	 17.
	    	INTELLECTUAL PROPERTY	  	 	41	 
			
	 18.
	    	FORCE MAJEURE	  	 	41	 
			
	 19.
	    	TERM	  	 	42	 
			
	 20.
	    	TERMINATION	  	 	42	 
			
	 21.
	    	CONSEQUENCES OF EXPIRATION AND TERMINATION	  	 	44	 
			
	 22.
	    	REPRESENTATIONS AND WARRANTIES- SPECIFIC COMMITMENT	  	 	46	 
			
	 23.
	    	LIABILITY AND INSURANCE	  	 	48	 
			
	 24.
	    	LIQUIDATED DAMAGES CLAUSE	  	 	50	 
			
	 25.
	    	SERVICE LEVEL	  	 	50	 
			
	 26.
	    	ACTIVITY REPORT	  	 	50	 
			
	 27.
	    	CHANGE OF CONTROL	  	 	51	 
			
	 28.
	    	COMPLIANCE WITH APPLICABLE LAWs	  	 	51	 
			
	 29.
	    	COMPLIANCE WITH SUSTAINABILITY PRINCIPLES	  	 	51	 
			
	 30.
	    	RESERVED	  	 	52	 
			
	 31.
	    	CONFIDENTIALITY – PUBLIC ANNOUNCEMENTS	  	 	52	 
			
	 32.
	    	NON SOLICITATION	  	 	53	 
			
	 33.
	    	USE OF PROCEEDS; Pioneer plant Operations	  	 	53	 
			
	 34.
	    	INDEPENDENT PARTIES	  	 	53	 

  
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	 35.
	    	ASSIGNMENT	  	 	54	 
			
	 36.
	    	SUBCONTRACTING	  	 	55	 
			
	 37.
	    	MISCELLANEOUS	  	 	55	 

  
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 APPENDICES 
  

			
	Appendix 1	  	PET Alliance Agreement
	Appendix 2	  	Technical Specifications Bio-pX
	Appendix 3	  	Pricing, Invoice and Payment Conditions
	Appendix 4	  	Timelines
	Appendix 5	  	SEDEX platform
	Appendix 6	  	Estimated Volumes
	Appendix 7	  	Nestlé Waters Affiliates
	Appendix 8	  	Supplier Affiliates
	Appendix 9	  	[Reserved]
	Appendix 10	  	Sample Bio-pX preliminary evaluation: industry standards and specifications
	Appendix 11	  	Technical Specifications Bio-PTA, Bio-PET and Bio-PEF
	Appendix 12	  	Technical Specifications Plastic Bottles
	Appendix 13	  	Nestlé Corporate Business Principles and Nestlé Supplier Code
	Appendix 14	  	Parametric Pricing Chart for New Plant
	Appendix 15	  	Confidentiality Agreement
	Appendix 16	  	List of Alliance Members
	Appendix 17	  	[Reserved]
	Appendix 18	  	Limited Intellectual Property License
	Appendix 19	  	Form of Secured Promissory Note
	Appendix 20	  	Forms of Deposit Account Pledge and Control Agreements
	Appendix 21	  	Real Estate Documents
	Appendix 22	  	[Reserved]
	Appendix 23	  	Form of Share Pledge Agreement
	Appendix 24	  	Options for New Plant Offtake Supply Agreement
	Appendix 25	  	Illustrative Calculation of Aggregate Premium
	Appendix 26	  	Form of Security Agreement
	Appendix 27	  	Form of Intercreditor Agreement

  

  
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 AMENDED AND RESTATED OFFTAKE SUPPLY AGREEMENT 

This Amended and Restated Offtake Supply Agreement is made on May 23, 2019 (Effective Date), between: 

 

	 	(1)	 Nestlé Waters Management & Technology, a “société par actions
simplifiée” organized and existing under the Laws of France, whose principal office is at 12 boulevard Garibaldi, 92130 Issy-les-Moulineaux, France, acting
in its name and on its behalf and in the name and on behalf of the Nestlé Waters Affiliates (as defined below), duly represented by Jacques Bodevin & Matteo Canti, 

(Nestlé Waters); 
 and 

 

	(2)	 Micromidas, Inc., dba Origin Materials, a company organized and existing under the laws of the State of
Delaware, whose principal office is at 930 Riverside Parkway, Suite 10, West Sacramento, CA 95605, United States of America, acting in its own name and on its behalf and in the name and on behalf of the Supplier Affiliates (as defined below), duly
represented by Stephen Galowitz; 

 (Supplier); 

(Nestlé Waters and the Supplier are hereafter referred to collectively as the Parties and individually as a Party). 

WHEREAS: 
  

	A.	 Nestlé Waters is a worldwide leading company specialized in the bottling, marketing and sale of
bottled water and ready-to-drink tea. 

  

	B.	 Nestlé Waters wishes to select a long-term supplier having adequate knowledge, experience,
technical skills and financial capacity to manufacture Bio-pX (as defined below) from cellulosic materials, to be used for the production of plastic bottles. To produce such plastic bottles, the Bio-pX must be converted first to Bio-PTA (as defined below) and then to Bio-PET (as defined below). 

 

	C.	 The Supplier has represented and warranted that: 

 

	 	(i)	 it is specialized in the manufacture and supply of key intermediates and plastics from cellulosic materials;

  

	 	(ii)	 it has developed a variety of proprietary technologies to produce
Bio-pX from such materials; 

  

	 	(iii)	 it will enter into appropriate contractual relationships with Third Party Manufacturers [***] in the conversion
of Raw Material Products to Products, enabling the Supplier to comply with its obligations under this Offtake Supply Agreement; and 

  
 Page 5 

	 	(iv)	 it has the knowledge, experience, technical skills and financial capacity to supply Bio-pX to one or more Third Party Manufacturers (as defined below) for subsequent conversion to Bio-PTA and then to Bio-PET.

  

	D.	 Nestlé Waters and the Supplier entered into that certain Offtake Supply Agreement, dated as of
November 7, 2016 (the Original Offtake Agreement), which set forth the terms and conditions on which the Supplier and the Supplier Affiliates (as defined therein) would produce Bio-pX from
cellulosic materials, convert the Bio-pX to Bio-PET and supply Bio-PET to Nestlé Waters and/or Nestlé Waters
Affiliates, without any exclusivity granted to either Party. Additionally, the Original Offtake Agreement set out the terms on which Bio-PET may be substituted with
Bio-PEF. 

  

	E.	 The Supplier constructed a pilot plant in West Sacramento, California, United States of America.

  

	F.	 As set forth in the Original Offtake Agreement, the Supplier previously intended to construct a
commercial-scale facility located in the United States of America to be owned directly by Micromidas Pioneer, LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of the Supplier (Micromidas Pioneer).

  

	G.	 The Supplier now intends to contrast its commercial-scale facility (Pioneer Plant) in Canada.

  

	H.	 The Pioneer Plant will be constructed and owned by Origin Materials Canada Pioneer—Limited, a
corporation incorporated under the laws of the Province of New Brunswick and an indirect wholly-owned subsidiary of the Supplier (OMC Pioneer). 

  

	I.	 The Pioneer Plant will produce CMF (as defined below). 

 

	J.	 The CMF produced at the Pioneer Plant will be converted by one or more third party manufacturers
(collectively referred to as Associated PET Supply Chain), into either (i) Bio-pX (as defined below), then to Bio-PTA (as defined below), and then to Bio-PET (as defined below), or (ii) FDCA (as defined below), and then to Bio-PEF (as defined below); 

 

	K.	 Bio-PEF may be substituted for
Bio-PET and supplied to the Nestlé Waters Affiliates to be used for the production of plastic bottles in accordance with the terms and conditions of this Offtake Supply Agreement. 

 

	L.	 Nestlé Waters Management & Technology, Danone Research, PepsiCo, Inc. and the Supplier
have entered into that certain Second Amended PET Alliance Agreement, dated as of August 3, 2018 and attached hereto as Appendix 1 (as may be amended, restated, supplemented or otherwise modified from time to time, the PET
Alliance Agreement). 

  

	M.	 In accordance with the terms and conditions of the Original Offtake Agreement, Nestlé Waters has
provided to Supplier aggregate lump sum advance payments totaling five million (5,000,000) USD (Advance Payment Amount) exclusively for (i) the manufacture and delivery of Raw Materials and Products and (ii) the Pioneer Plant
Operations. 

  
 Page 6 

	N.	 The Parties have agreed to amend and restate the Original Offtake Agreement on and subject to the terms
and conditions set forth below to, among other things, (i) provide for the construction of the Pioneer Plant in Canada, (ii) replace Micromidas Pioneer with OMC Pioneer as a Supplier Affiliate, (iii) terminate the security interests
and liens granted pursuant to the Terminated Security Documents (as defined below), (iv) release and discharge Micromidas Pioneer of its obligations under the Original Offtake Agreement, the Original Secured Promissory Note (as defined below) and
the Terminated Security Documents, (v) release and discharge Supplier of its obligations under the Original Pledge Agreement, and (vi) waive any potential breaches under the Original Offtake Agreement occurring prior to the Effective Date,
which may have occurred as a result of the above or by the inclusion of PepsiCo, Inc. as an Alliance Member under the PET Alliance Agreement and investor in Supplier. 

NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants and agreements contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties agree to amend and restate the Original Offtake Agreement as follows: 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

In this Offtake Supply Agreement, unless the context requires otherwise, all words beginning with initial capitals will have the following
meaning: 
  

			
	 Definition:
	  	 Meaning:

		
	Advance Payment Amount	  	The meaning ascribed to it in Recital M;
		
	Affiliate	  	With respect to any person, any other person controlling, controlled by or under common control with the first person. For purposes of this definition, control means the power to direct the management or affairs of a person, whether
through ownership of voting securities, by contract or otherwise;
		
	Aggregate Premium	  	The positive difference between (i) the total amounts actually paid (i.e. after taking into account all credits set forth in Article 8.2.1) by Nestlé Waters and the Nestlé Waters Affiliates for Products
during the term of this Offtake Supply Agreement and (ii) the petro PET market price for such volumes during each such delivery period. For the purposes of the preceding sentence the petro PET market price will be calculated as set forth in
Appendix 3;

  
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	 Definition:
	  	 Meaning:

		
	Alliance Members	  	Third parties who, in collaboration with and after mutual written agreement of the Parties, enter into an offtake supply agreement with the Supplier or a Supplier Affiliate to purchase and sell
Bio-PET and become party to the PET Alliance Agreement. A list of the Alliance Members as of the Effective Date is attached as Appendix 16, which list may be modified, from time to time, by
mutual written agreement of the Parties. Any Person added to Appendix 16 must enter into an offtake supply agreement with the Supplier;
		
	Applicable Laws	  	All Laws, judgments, decrees, ordinances and regulations and any other Governmental Rules, orders and determinations by any Governmental Authority and all requirements having the force of law, now or hereafter enacted, made or
issued, whether or not presently contemplated, including compliance with all requirements of environmental Laws, zoning Laws and labor Laws, compliance with which is required with respect to the Parties’ respective obligations under this
Offtake Supply Agreement;
		
	Applicable Taxes	  	The meaning ascribed to it in Article 8.6;
		
	Associated PEF Supply Chain	  	The meaning ascribed to it in Recital J;
		
	Associated PET Supply Chain	  	The meaning ascribed to it in Recital J;
		
	Bankruptcy Event	  	(a) As experienced by a Party, when a court having jurisdiction enters a decree or order for (i) relief in respect of the Party in an involuntary case under any applicable bankruptcy, insolvency or other similar Law now or
hereafter in effect, (ii) appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Party or for all or substantially all of the property of such Party or (iii) the winding up or
liquidation of the Party’s affairs and, in each case, such decree or order shall remain unstayed and in effect for a period of 30 consecutive days; or

  
 Page 8 

			
	 Definition:
	  	 Meaning:

		
		  	(b) the Party (i) commences a voluntary case under any applicable bankruptcy, insolvency or other similar Law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such
Law, (ii) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Party for all or substantially all of the property of such Party or
(iii) effects any general assignment for the benefit of creditors;
		
	Bio-MEG	  	Monoethylene glycol produced from bio-sourced Feedstocks;
		
	Bio-PEF	  	PEF made from FDCA with a carbonaceous bio-content of [***] with the understanding that the calculation of carbonaceous bio-content shall be made
without reference to isothalic acid or similar required additives;
		
	Bio-PET	  	PET made from Bio-pX and having a carbonaceous bio-content of at least [***] up to the Commercial Operation Date New Plant, and [***] as of the
Commercial Operation Date New Plant and, provided that Nestlé Waters elects to pay the full premium for bio-ethylene as set forth in Appendix 3, [***] as of the Commercial Operation Date.
The calculation of carbonaceous bio-content shall be made without reference to isothalic acid or similar required additives;
		
	Bio-PTA	  	PTA containing Bio-pX;
		
	Bio-pX	  	Bio-based PX produced from Feedstocks;
		
	Change in Law	  	The enactment, adoption, promulgation, modification, suspension or repeal, after the Effective Date, by any Governmental Authority of any Applicable Laws;

  
 Page 9 

			
	 Definition:
	  	 Meaning:

	Change of Control	  	The Supplier shall fail to (i) own and control directly or indirectly, in the aggregate more than 50.1% of issued and outstanding common ownership interests and (ii) control the board of directors (or comparable governing
body) in Supplier as the case may be. Notwithstanding the foregoing, a Change of Control shall not be deemed to have occurred as a result of any assignment in accordance with Article 35.1 below;
		
	CMF	  	Chloromethyl Furfural;
		
	Code	  	The meaning ascribed to it in Article 29.6;
		
	Commercial Operation Date New Plant	  	The commercial operation date of the New Plant, as demonstrated by the production at the New Plant of not less than [***] of CMF and the capacity to produce not less than [***] of CMF per year which shall be capable of being
converted to as much as [***] of PX per year as needed to meet the requirements of Alliance Members;
		
	Commercial Operation Date Pioneer Plant	  	The commercial operation date of the Pioneer Plant, as demonstrated by the production at the Pioneer Plant of not less than [***] of CMF and the capacity to produce not less than [***] of CMF per year which shall be capable of being
converted to as much as [***] of PX per year as needed to meet the requirements of Alliance Members;
		
	Confidentiality Agreement	  	The agreement attached as Appendix 15;
		
	Confidential Information	  	The meaning ascribed in the Confidentiality Agreement.
		
	Customized Design	  	Any Results created by the Supplier or any Supplier Affiliate at written request of Nestlé Waters for the purposes of producing the Products for Nestlé Waters or the Nestlé Waters Affiliates;
		
	Deposit Account Pledge and Control Agreements	  	(i) That certain Bank Account Pledge and Security Agreement, dated as of November 7,

  
 Page 10 

			
	 Definition:
	  	 Meaning:

		
		  	2016, by and between the Supplier and Nestlé Waters and (ii) that certain Deposit Account Control Agreement, dated as of November 7, 2016, among Silicon Valley Bank, the Supplier and Nestlé Waters, each in
the form attached as Appendix 20;
		
	Designated Party	  	The meaning ascribed to the term “Competitor” in that certain Investors’ Rights Agreement, dated as of August 3, 2018 and entered into by the Supplier and the investor parties thereto; provided that: (i) the list
of Designated Parties shall be modified no more frequently than once annually, which modification shall occur, if at all, during the thirty (30) days immediately prior to the anniversary of the Effective Date or else waived for that specific
year; and (ii) each such entity (or commonly controlled group of entities) must be a consumer goods company, a majority of whose revenue is derived from food and/or nonalcoholic beverages;
		
	Effective Date	  	The meaning ascribed to it in the Preamble;
		
	Expected Commercial Operation Date Pioneer Plant	  	The meaning ascribed to it in Appendix 4;
		
	Expected Commercial Operation Date New Plant	  	The meaning ascribed to it in Appendix 4;
		
	Feedstocks	  	The cellulosic or carbohydrate material used by the Supplier and/or the Supplier Affiliates in the manufacture of Raw Materials;
		
	FDCA	  	Furan Dicarboxylic Acid;
		
	Force Majeure	  	The meaning ascribed to it in Article 18;
		
	Funds	  	The funds in the amount of [***] USD, received by the Supplier or the Supplier Affiliates from the investors who are a party to the Series B Preferred Stock Purchase Agreement, dated as of October 7,
2016;

  
 Page 11 

			
	 Definition:
	  	 Meaning:

		
	Governmental Authority	  	Any national (United States of America or other foreign country), provincial or local government, any political subdivision or any governmental, quasigovernmental, judicial, public or statutory instrumentality, authority, agency,
body, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative power or functions of or pertaining to government;
		
	Governmental Rules	  	Any Law, rule, regulation, ordinance, order, code, judgment, decree, directive, guideline, policy, or any similar form of decision of, or any interpretation or administration of any of the foregoing by, any Governmental
Authority;
		
	Improvements	  	Any improvements or revisions to, or modifications of, any Technical Specifications and/or Nestlé Waters’s Pre-Existing IP made by Nestlé Waters and/or the
Supplier;
		
	Intellectual Property Rights	  	Any property right provided by Applicable Law, including but not limited to, patents, design rights, semiconductor topography rights, database rights, copyrights, trademarks, domain name, confidential
know-how and trade secrets, covering any creation of the mind such as, but not limited to, results, reports, information, data, databases, methods, software (including all elements and source codes), devices, know-how, inventions, literary and artistic works, symbols, names and logos, images and designs;
		
	Intercreditor Agreement	  	That certain Pari Passu Intercreditor Agreement, dated on or about the date hereof, among OMC Holding, OMC Pioneer, Nestlé Waters and Danone Asia Pte Ltd, in the form attached hereto as Appendix 27 (as
may be amended, restated, supplemented or otherwise modified from time to time);

  
 Page 12 

			
	 Definition:
	  	 Meaning:

		
	Law	  	 Any applicable constitutional provision, statute, ordinance, principle of common law

or other law, rule, code, ordinance, protocol, directive, regulation, or interpretation of any Governmental Authority and any decree, injunction, stay,
judgment, order, ruling, assessment or writ;

		
	LCA	  	Life cycle assessment to assess environmental impacts associated with all the stages of a product’s life from cradle to grave;
		
	Limited Intellectual Property License	  	Subject to the Intercreditor Agreement, that certain Nonexclusive Patent and Know-How License Agreement, dated as of November 7, 2016, by and among the Supplier, Danone Asia Pte Ltd and
Nestlé Waters in the form attached hereto as Appendix 18 (as may be amended, restated, supplemented or otherwise modified from time to time);
		
	Liquidated Damages	  	The meaning ascribed to it in Article 24;
		
	Long Stop Dates	  	The Pioneer Plant Long Stop Date, the Pioneer Plant Bio-PET Long Stop Date, the New Plant Long Stop Date, the New Plant Bio-PET Long Stop Date,
collectively or individually as applicable;
		
	Material Adverse Change	  	The occurrence of fact, circumstance or event, of any nature whatsoever (including, without limitation, in relation to industrial, financial or commercial matters or relating to safety, quality, health, etc.), which could materially
jeopardize the purpose, financial interest or objective(s) of this Offtake Supply Agreement, provided, however such material adverse change is not the consequence of a Force Majeure event; in which case such event shall be treated as described in
Article 18;
		
	MEG	  	Mono-Ethylene Glycol;
		
	Micromidas Pioneer	  	The meaning ascribed to it in Recital F;
		
	MT	  	Metric ton;

  
 Page 13 

			
	 Definition:
	  	 Meaning:

		
	Nestlé Waters	  	The meaning ascribed to it in the Preamble;
		
	Nestlé Waters Affiliates	  	The companies listed in Appendix 7 as amended from time to time by Nestlé Waters;
		
	Nestlé Waters Group	  	Nestlé Waters and the Nestlé Waters Affiliates;
		
	Nestlé Waters’ Market	  	The worldwide market of bottled waters and ready-to-drink tea;
		
	Nestlé Waters Qualified Feedstock	  	Those Feedstocks that (i) qualify as second generation feedstock, (ii) are not consumed by humans or animals directly or indirectly as food and (iii) comprise and are limited to one or more of the following
components: wood, wood products or by-products, corn stover, corn fiber, oat hulls, bagasse, old corrugated cardboard or paper, palm biomass (including empty fruit bunches, fronds and trunks) and
molasses/blackstrap, or other products (including sugars) derived from any of the above. The addition of Feedstocks other than those listed above will be subject to Nestlé Waters’s prior written approval;
		
	New Plant	  	The first plant, or integrated complex of plants, constructed after the Pioneer Plant at which Raw Materials are manufactured;
		
	New Plant Bio-PET Long Stop Date	  	The meaning ascribed to it in Appendix 4;
		
	New Plant Bio-PET Penalty Date	  	The meaning ascribed to it in Appendix 4;
		
	New Plant Long Stop Date	  	The meaning ascribed to it in Appendix 4;
		
	New Plant Penalty Date	  	The meaning ascribed to it in Appendix 4;
		
	Offtake Supply Agreement	  	This offtake supply agreement, including its Preamble and its Appendices, as amended, restated, supplemented or otherwise modified from time to time;
		
	OMC Holding	  	Origin Materials Canada Holding - Limited, a corporation incorporated under the laws of the Province of New Brunswick;

  
 Page 14 

			
	 Definition:
	  	 Meaning:

		
	OMC Pioneer	  	The meaning ascribed to it in Recital H;
		
	Orders	  	The purchase orders placed from time to time by the Nestlé Waters Affiliates with the Supplier or the Supplier Affiliates for the supply of Products, pursuant to the terms of this Offtake Supply
Agreement;
		
	Original Offtake Agreement	  	The meaning ascribed to it in Recital D;
		
	Original Pledge Agreement	  	That certain Pledge and Security Agreement, dated as of November 7, 2016, made by the Supplier for the benefit of Nestlé Waters;
		
	Original Secured Promissory Note	  	That certain Secured Promissory Note, dated as of November 7, 2016, by the Supplier and Micromidas Pioneer in favor of Nestlé Waters;
		
	Original Security Agreement	  	That certain Security Agreement, dated as of November 7, 2016, by and between Micromidas Pioneer and Nestlé Waters;
		
	Parties	  	The meaning ascribed to it in the Preamble;
		
	Party	  	The meaning ascribed to it in the Preamble;
		
	PEF	  	Polyethylene Furanoate;
		
	Penalty Dates	  	The Pioneer Plant Penalty Date, the Pioneer Plant Bio-PET Penalty Date, the New Plant Penalty Date and the New Plant Bio-PET Penalty Date, collectively
or individually as applicable;
		
	PET	  	Polyethylene Terephthalate;
		
	PET Alliance Agreement	  	The meaning ascribed to it in Recital L;
		
	Pioneer Plant	  	The meaning ascribed to it in Recital G;
		
	Pioneer Plant Bio-PET Long Stop Date	  	The meaning ascribed to it in Appendix 4;
		
	Pioneer Plant Bio-PET Penalty Date	  	The meaning ascribed to it in Appendix 4;

  
 Page 15 

			
	 Definition:
	  	 Meaning:

		
	Pioneer Plant Long Stop Date	  	The meaning ascribed to it in Appendix 4;
		
	Pioneer Plant Operations	  	The construction of the Pioneer Plant and obtainment of everything that is necessary to make the Pioneer Plant fully operational;
		
	Pioneer Plant Penalty Date	  	The meaning ascribed to it in Appendix 4;
		
	Pre-Existing IP	  	Any Confidential Information (including but not limited to, results, data or reports), inventions, software, know-how, literary and artistic works, symbols, names, images, designs and any
creation of the mind covered or not by an Intellectual Property Right (including industrial property right), which is (i) owned or in possession of a Party prior to the Effective Date, (ii) obtained after the Effective Date by such Party
through acquisition of such Intellectual Property Rights from a third party or (iii) conceived or developed outside the scope and framework of the PET Alliance Agreement;
		
	Product	  	Bio-PET or Bio-PEF, as applicable;
		
	PTA	  	Purified Terephthalic Acid;
		
	pX or PX	  	Para-Xylene;
		
	Raw Materials	  	Bio-pX and/or FDCA, as applicable;
		
	Raw Materials Products	  	Bio-pX, Bio-PTA and/or FDCA, as applicable;
		
	Real Estate Documents	  	The meaning ascribed to it in Appendix 21;
		
	Representatives	  	A Party’s Affiliates, officers, directors, employees, consultants, contractors and agents;
		
	Results	  	All Intellectual Property Rights created by Nestlé Waters or the Supplier under the PET Alliance Agreement;
		
	Sample Bio-pX	  	The representative samples of Bio-pX as set forth in the PET Alliance Agreement;

  
 Page 16 

			
	 Definition:
	  	 Meaning:

		
	Secured Promissory Note	  	That certain Amended and Restated Secured Promissory Note, dated as of the date hereof, made by the Supplier, OMC Holding and OMC Pioneer in favor of Nestlé Waters (as may be amended, restated, supplemented or otherwise
modified from time to time);
		
	Security Agreement	  	That certain General Security Agreement, dated as of the date hereof, between OMC Pioneer and Nestlé Waters, in the form attached hereto as Appendix 26 (as may be amended, restated, supplemented or otherwise
modified from time to time);
		
	Security Documents	  	The Secured Promissory Note, the Share Pledge Agreement, the Deposit Account Pledge and Control Agreements, the Real Estate Documents and the Security Agreement;
		
	Security Stock	  	The meaning ascribed to it in Article 13.2;
		
	Services and Supply Agreement	  	An agreement entered into between the Supplier and Third Party Manufacturer(s) for the conversion of the Raw Material Products to Products, which shall be delivered to Nestlé Waters Affiliates on terms and conditions
compatible with this Offtake Supply Agreement;
		
	Share Pledge Agreement	  	That certain Share Pledge Agreement, dated as of the date hereof, between OMC Holding and Nestlé Waters, in the form attached as Appendix 23 (as may be amended, restated, supplemented or otherwise modified
from time to time);
		
	Start Date	  	The date on which all of the conditions precedent set forth in Article 4.1 have been fulfilled or, if applicable, waived by the applicable Party, as set forth in Article 4.2;
		
	Supplier	  	The meaning ascribed to it in the Preamble;

  
 Page 17 

			
	 Definition:
	  	 Meaning:

		
	Supplier Affiliates	  	The companies listed in Appendix 8 as amended from time to time by the Supplier;
		
	Supplier Group	  	The Supplier and the Supplier Affiliates;
		
	Technical Specifications	  	Technical Specifications Bio-PTA, Bio-PET and Bio-PEF, Technical Specifications FDCA and Technical
Specifications Bio-pX collectively;
		
	Technical Specifications Bio-PTA, Bio-PET and Bio-PEF	  	The quality and food safety requirements the Bio-PTA, Bio-PET and Bio-PEF must meet as described in
Appendix 11;
		
	Technical Specifications Bio-pX	  	The quality and food safety requirements Bio-pX must meet as described in Appendix 2 as may be amended from time to time in accordance with Article 7;
		
	Technical Specifications FDCA	  	The quality and food safety requirements FDCA must meet to satisfy the condition precedent set forth in Article 9.1.1 and which are to be developed jointly and agreed by the Parties;
		
	Technical Specifications Plastic Bottles	  	The quality and food safety requirements plastic bottles must meet as described in Appendix 12;
		
	Terminated Security Documents	  	The Original Pledge Agreement and the Original Security Agreement, collectively or individually, as applicable;
		
	Third Party Manufacturer	  	Any third party appointed from time to time by the Supplier and/or the Supplier Affiliates, subject to prior written approval by Nestlé Waters, not to be unreasonably withheld, conditioned or delayed, to convert Raw Materials
to Products;
		
	VAT	  	The meaning ascribed to it in Article 8.6.

  
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	1.2	 Interpretation 

In this Offtake Supply Agreement, where the context admits: 
  

	 	1.2.1	 reference to a statutory provision includes reference to: 

 

	 	(i)	 any order, regulation, statutory instrument or other subsidiary legislation at any time made under it for the
time being in force; 

  

	 	(ii)	 any modification, amendment, consolidation, re-enactment or replacement
of it or provision of which it is a modification, amendment, consolidation, re-enactment or replacement; 

  

	 	1.2.2	 reference to a Preamble, Article or Appendix is to a preamble, article or appendix of or to this Offtake Supply
Agreement, respectively; 

  

	 	1.2.3	 reference to the Parties includes their respective successors and permitted assigns; 

 

	 	1.2.4	 reference to any Party to this Offtake Supply Agreement comprising more than one person includes each person
constituting that Party; 

  

	 	1.2.5	 reference to any agreement, document or other instrument means such agreement, document or other instrument as
amended, restated, supplemented or otherwise modified from time to time, in accordance with the terms and conditions of this Offtake Supply Agreement; 

  

	 	1.2.6	 reference to any gender includes the other genders; 

 

	 	1.2.7	 words in the singular include the plural and in the plural include the singular; 

 

	 	1.2.8	 the index and headings are for ease of reference only and shall not affect the construction or interpretation
of this Offtake Supply Agreement; and 

  

	 	1.2.9	 this Offtake Supply Agreement incorporates its recitals and the appendices to it. 

 

	2.	 PURPOSE 

Subject to the terms of this Offtake Supply Agreement and the Orders, the Parties agree that: 

 

	 	(i)	 the Supplier and/or relevant Supplier Affiliates shall manufacture and supply Raw Materials, convert or
have such Raw Materials converted to the Products, and supply the Products to Nestlé Waters and/or relevant Nestlé Waters Affiliates; and 

  
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	 	(ii)	 Nestlé Waters and/or relevant Nestlé Waters Affiliates shall order the Products from the
Supplier and/or the relevant Supplier Affiliate and pay the Supplier and/or the relevant Supplier Affiliates. 

  

	3.	 AGREEMENT STRUCTURE 

 

	3.1	 Offtake Supply Agreement 

This Offtake Supply Agreement sets out the terms and conditions which shall govern the overall obligations, responsibilities and liabilities of
the Parties and, as applicable, of Nestlé Waters Affiliates and Supplier Affiliates in connection with the purpose set forth in Article 2. 
  

	3.2	 Orders 

  

	 	3.2.1	 Pursuant to this Offtake Supply Agreement, Nestlé Waters and/or Nestlé Waters Affiliates may,
from time to time, place Orders with the Supplier and/or Supplier Affiliates according to the terms and conditions of Article 10. 

  

	 	3.2.2	 Each Order shall be governed by the provisions of this Offtake Supply Agreement. 

 

	 	3.2.3	 Any amendment to this Offtake Supply Agreement shall automatically apply to each Order issued following the
effective date of such amendment; provided, that upon mutual written agreement of the Parties, any amendment may apply to previously issued and unfulfilled Orders. 

 

	3.3	 Application to Affiliates 

This Offtake Supply Agreement, as may be from time to time amended, shall apply to Nestlé Waters Affiliates and to Supplier Affiliates
when buying and selling the Products. Nestlé Waters may amend from time to time Appendix 7 in writing in order to reflect the members of the Nestlé Waters Group and shall promptly inform
the Supplier of any such amendment, provided that no such amendment shall adversely affect the rights or obligations of the Supplier hereunder. The Supplier may amend from time to time Appendix 8 in
writing in order to reflect the members of the Supplier Group and shall promptly inform Nestlé Waters of any such amendment, provided that no such amendment shall adversely affect the rights or obligations of Nestlé Waters hereunder.

  

	4.	 CONDITIONS PRECEDENT 

 

	4.1	 Conditions Precedent 

The Parties’ respective purchase and sale obligations under this Offtake Supply Agreement shall become effective upon the Start Date,
subject to the fulfilment of each of the following cumulative conditions precedent: 

  
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	 	(i)	 All Sample Bio-pX and quality testing as described in the PET Alliance
Agreement, other than the recyclability test (which will be performed after the Start Date), shall have been passed to the reasonable satisfaction of Nestlé Waters; 

 

	 	(ii)	 The Commercial Operation Date Pioneer Plant shall have occurred before the Pioneer Plant Long Stop Date;

  

	 	(iii)	 The Supplier, or a third party expert jointly selected by the Parties, shall have provided evidence to the
reasonable satisfaction of Nestlé Waters that Bio-pX produced by the Pioneer Plant fully meets the Technical Specifications Bio-pX and that the Supplier can meet
the quantity requirements as set out in Article 9; 

  

	 	(iv)	 Nestlé Waters shall have conducted a preliminary evaluation of samples of
Bio-PET containing Bio-pX produced at the Pioneer Plant and determined, as soon as commercially practicable (but in no event longer than [***] days following receipt of
such Bio-PET samples from Supplier) that the Bio-PET (i) fulfils the industry standards and the specific additional objective specifications, including as to
quality and food safety requirements as set forth in Appendix 10, and (ii) meets the quality standards and specifications of the Technical Specifications Bio-PTA, Bio-PET and Bio-PEF as set forth in Appendix 11; 

Upon written request by the Supplier, Nestlé Waters shall provide the Supplier with information as to the progress and any interim
results of such evaluation process within [***] of such request; 
  

	 	(v)	 No Material Adverse Change shall have occurred prior to the date when each of the conditions precedent listed
in sub-paragraphs (i) through (iv) above has been fulfilled or waived by Nestlé Waters; provided that each Party undertakes to notify the other Party of the occurrence of any such Material Adverse
Change promptly upon acquiring knowledge thereof and provided, further that failure by a Party to comply with this notice obligation shall entitle the other Party to terminate forthwith this Offtake Supply Agreement; and 

 

	 	(vi)	 A qualified and professional third party previously approved in writing by Nestlé Waters, shall have
produced a LCA demonstrating to Nestlé Waters’s reasonable satisfaction that the following criteria for Products supplied from a hypothetical pioneer plant that uses inputs, including Nestlé Waters Qualified Feedstocks, optimized
for LCA purposes are met: 

  

	 	•	 	 For Bio-PET: reduction of the GHG emissions and Non Renewable Energy Use
by at least [***], as compared the equivalent for 100% oil-based PET (using as a reference PlasticsEurope 2010); 

  

	 	•	 	 For Bio-PEF: reduction of the GHG emissions and Non Renewable Energy Use
by at least [***], as compared the equivalent for 100% oil-based PET (using as a reference PlasticsEurope 2010); 

  
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	 	•	 	 The agro-related indicators such as “Water consumption”, “Ecosystems quality”
(eutrophication, acidification, ecotoxicity) and “Land Use” for the Bio-PET and Bio-PEF from the New Plant shall be better (or at least have no statistically
significant differences) (taking into account the uncertainties and the local water and land availability) compared to the equivalent for 100% oil-based PET (using as a reference PlasticsEurope 2010);

 For the avoidance of doubt, the parties acknowledge that Nestlé Waters’s LCA methodology fully takes into
account the Supplier’s (i) verified effective use of waste feedstocks and (ii) co-product displacements to the extent they displace primary production of the substitute product. 

 

	4.2	 Waiver of the Conditions Precedent 

The conditions precedent set forth in Article 4.1 (other than Article 4.1(v) as to a Material Adverse Change with respect to
Nestlé Waters) are all stipulated for the exclusive benefit of Nestlé Waters, and Nestlé Waters may therefore waive any such condition precedent in writing at its sole and absolute discretion. 

 

	4.3	 Fulfilment of the Conditions Precedent 

 

	 	4.3.1	 The Parties shall use their best efforts for the fulfilment of the conditions precedent as soon as practicable.
In the event a Party becomes aware of the fact that any condition precedent cannot be fulfilled or is delayed, it shall promptly inform the other Party and the Parties shall review in good faith the situation and any possible remediation, without
prejudice of the provisions of Article 4.4.1. Any agreement between the Parties on a possible remediation, if any, shall be subject to a specific written amendment to this Offtake Supply Agreement. 

 

	 	4.3.2	 Evidence that any of the conditions precedent have been fulfilled shall result from a statement executed by
Nestlé Waters, by which Nestlé Waters acknowledges its fulfilment, which statement shall be provided by Nestlé Waters within [***] of fulfilment of such condition precedent and which shall not be unreasonably withheld or
delayed. Any waiver by Nestlé Waters of the benefit of any of the said conditions precedent shall mandatorily be recorded in a written statement, executed by Nestlé Waters, by which Nestlé Waters expressly, specifically and
definitively waives the benefit of any such condition. 

  

	4.4	 Termination 

  

	 	4.4.1	 The Start Date is anticipated to be the Expected Commercial Operation Date Pioneer Plant and will be no later
than the Pioneer Plant Long Stop Date. In the event that the conditions precedent have not been fulfilled or, if applicable, waived by Nestlé Waters, by the Pioneer Plant Long Stop Date, and unless otherwise agreed in writing by the Parties,
this Offtake Supply Agreement shall be terminated in accordance with Article 20. 

  

	5.	 PIONEER PLANT, PENALTIES AND DOWNSTREAM CONVERSION 

 

	5.1	 For the purpose of manufacturing the quantities of Bio-pX set
forth in Article 9 and converting Raw Materials to the Products in accordance with this Offtake Supply 

  
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 Agreement, the Supplier shall (or shall cause the relevant Supplier Affiliate to) (i)
construct the Pioneer Plant with a capacity to produce an annual volume of CMF to supply [***] of the minimum required volume of Bio-PX requested by Nestlé Waters as detailed in Appendix
6, (ii) arrange for the Associated PET Supply Chain and, if applicable, the Associated PEF Supply Chain, to produce the Raw Materials and (iii) arrange for Third Party Manufacturer(s) to convert the Raw Materials to Products. 

 

	5.2	 The Supplier shall be responsible for the design, the construction, the choice of the contractors and
the carrying out of all the necessary actions, negotiations and formalities (including but not limited to the necessary permits) and shall bear all related costs and expenses in relation to the Pioneer Plant, the Associated PET Supply Chain and, if
applicable, the Associated PEF Supply Chain and the Third Party Manufacturer(s), without any liability whatsoever for Nestlé Waters and Nestlé Waters Affiliates (including when Nestlé Waters is informed about the process).

  

	5.3	 The Supplier shall (i) construct and have a fully operational Pioneer Plant, Associated PET Supply
Chain and, if applicable, Associated PEF Supply Chain and Third Party Manufacturer(s) within the timeframe and various milestones set forth in Appendix 4 and (ii) commence the manufacturing of Products at the agreed
quantities as set out in Article 9 and the conversion of the Raw Materials to the Products in accordance with Appendix 4. 

  

	5.4	 The Supplier shall (or shall cause the relevant Supplier Affiliate to) keep Nestlé Waters
regularly informed about the progress made and material events in relation to the construction of the Pioneer Plant, and the arrangements for the Associated PET Supply Chain and, if applicable, the Associated PEF Supply Chain and the Third Party
Manufacturer(s) through monthly progress reports. In particular, the Supplier shall (or shall cause the relevant Supplier Affiliate to) provide appropriate documentation to Nestlé Waters evidencing the completion of each of the milestones
referred to in Appendix 4 relating to the Pioneer Plant. 

  

	5.5	 In the event the Supplier actually becomes aware that any milestone mentioned in Appendix 4
cannot be met, the Supplier shall promptly notify and provide Nestlé Waters with a reasonable estimate of the new timeline and what measures the Supplier will take to ensure that the Bio-PET
Long Stop Date and the Pioneer Plant Bio-PET Long Stop Date can still be met. 

  

	5.6	 In the event it becomes clear at any time that either (i) the Pioneer Plant Long Stop Date or
(ii) the Pioneer Plant Bio-PET Long Stop Date cannot be met, the following shall apply: 

  

	 	5.6.1	 The Parties shall promptly consult on possible actions to mitigate the impact of the delay towards
Nestlé Waters’s and/or the Nestlé Waters Affiliates’ operations in respect of the Products. Such mitigation, if agreed in writing by Nestlé Waters and the Supplier, each in its sole discretion, may include, [***]; and

  
 Page 23 

	 	5.6.2	 If the Parties have not been able to agree on the required amendments to this Offtake Supply Agreement to make
it operative for both Parties in the changed and delayed scenario, as contemplated in Article 5.6.1, Nestlé Waters may terminate this Offtake Supply Agreement with immediate effect and without any liability, without any further action
or legal proceeding being required (without prejudice to any other damages, rights or remedies to which Nestlé Waters may be entitled). 

  

	6.	 NEW PLANT 

  

	6.1	 Following the Commercial Operation Date Pioneer Plant, the Supplier shall use reasonable commercial
efforts to construct (or arrange for the construction of) a New Plant on or before the Expected Commercial Operation Date New Plant. 

  

	6.2	 The New Plant shall produce, out of its entire production, the required CMF to produce at least [***] of
Bio-pX or FDCA per annum. The New Plant shall be capable of producing commercial quantities of [***] carbonaceous bio-content based CMF from [***] Nestlé Waters
Qualified Feedstocks capable of being converted in [***] carbonaceous bio-content based Bio-pX or FDCA. The expected costs of production of the New Plant are set forth
in the parametric pricing charts, which are based on the Supplier’s anticipated technology and are attached as Appendix 14. 

  

	6.3	 Nestlé Waters and the Nestlé Waters Affiliates shall have the right to direct that the
Supplier and the Supplier Affiliates source the agreed quantities of Products as set out in Article 9 to be supplied pursuant to this Offtake Supply Agreement from the New Plant, rather than from the Pioneer Plant. The terms and conditions,
including the price, for such Products shall remain unchanged (unless Nestlé Waters elects to utilize bio-ethylene, in which case the provisions of Article 7.1.5 will apply).

  

	6.4	 Prior to the New Plant Long Stop Date but no later than [***] after the execution of this Offtake Supply
Agreement, a LCA will be performed by a qualified and professional third party selected by the Supplier and approved in writing by Nestlé Waters within [***] from the effective date of this Offtake Agreement. Nestlé Waters expects that
such LCA shall demonstrate through modelling that the following criteria for Products supplied from the New Plant are met: 

  

	 	•	 	 For Bio-PET: reduction of the GHG emissions and Non Renewable Energy Use
by at least [***], as compared with the ones for 100% oil-based PET /(Ref. PlasticsEurope 2010); 

  

	 	•	 	 For Bio-PEF: reduction of the GHG emissions and Non Renewable Energy Use
by at least [***], as compared the equivalent for 100% oil-based PET (using as a reference PlasticsEurope 2010); 

  

	 	•	 	 The agro-related indicators such as “Water consumption”, “Ecosystems quality”
(Eutrophication, acidification, Ecotoxicity) and “Land Use” for the Bio-PET and Bio-PEF from the New Plant shall be better (or at least have no statistically
significant differences) (taking into account the uncertainties and the local water and land availability) compared to the equivalent for 100% oil-based PET (using as a reference PlasticsEurope 2010).

  
 Page 24 

 The Parties acknowledge and agree that the foregoing criteria are provided for indicative
purposes only, and failure to achieve the foregoing criteria shall not be a breach of this Offtake Supply Agreement. Should the LCA show that any one of the foregoing criteria have not been met, the Parties shall meet, at Nestlé Waters’s
request, and negotiate in good faith to reach a mutually agreeable resolution. For the avoidance of doubt, such mutually agreeable solution shall not imply an obligation for Nestlé Waters to enter into an offtake supply agreement for the New
Plant or to indemnify the Supplier in any way, and is without prejudice of Nestlé Waters’s right to terminate this Offtake Supply Agreement under Article 20.2(xvi). 

For the avoidance of doubt, the Parties acknowledge that Nestlé Waters’s LCA methodology fully takes into account the
Supplier’s (i) verified effective use of waste feedstocks and (ii) co-products displacement to the extent they displace primary production of the substitute products. 

 

	6.5	 In the event that Nestlé Waters or the Nestlé Waters Affiliates exercise the right in
Article 6.3, and the Supplier or Supplier Affiliates have not commenced delivery of the agreed quantity of Products from the New Plant on or before the New Plant Bio-PET Penalty Date, a penalty will be
due by the Supplier to Nestlé Waters or the relevant Nestlé Waters Affiliates as per Article 24. 

  

	6.6	 If a New Plant capable of producing [***] carbonaceous
bio-content based Bio-pX or FDCA from [***] Nestlé Waters Qualified Feedstocks is not in operation on or before the New Plant Long Stop Date, Nestlé Waters
and the Nestlé Waters Affiliates shall have the right to terminate this Offtake Supply Agreement without any liability and/or compensation due by Nestlé Waters or Nestlé Waters Affiliates, without prejudice to any other damages,
rights or remedies to which Nestlé Waters or the Nestlé Waters Affiliates may be entitled. 

  

	7.	 PRODUCTION; QUALITY 

 

	7.1	 Quality requirement 

 

	 	7.1.1	 The Supplier undertakes, together with the Associated PET Supply Chain or the Associated PEF Supply Chain, as
applicable, to (or cause the relevant Supplier Affiliate to) manufacture Raw Materials and arrange for the conversion of the Raw Materials to Products in full compliance with this Offtake Supply Agreement, including but not limited to the Technical
Specifications (as applicable) and all Applicable Laws. 

  

	 	7.1.2	 In the event that, after the execution date of this Offtake Supply Agreement, a Change in Law results in
additional costs or savings associated with compliance, [***]. 

  

	 	7.1.3	 The Supplier shall be fully responsible for the operations of the Pioneer Plant, the conversion process of Raw
Materials to Products, the Associated PET Supply Chain and, if applicable, the Associated PEF Supply Chain and Third Party Manufacturer(s), without any liability for Nestlé Waters and Nestlé Waters Affiliates. 

  
 Page 25 

	 	7.1.4	 The Associated PET Supply Chain shall be arranged, designed and constructed to be capable of utilizing
petro-ethylene or bio-ethylene for the purpose of manufacturing the Raw Materials. 

  

	 	7.1.5	 In the event Nestlé Waters or any Nestlé Waters Affiliate wishes to secure and provide bio-ethylene to the Supplier or any Supplier Affiliate, it shall inform the Supplier or such Supplier Affiliate thereof in writing and the purchase price as set out in Article 8 [***]. 

 

	 	7.1.6	 If Bio-MEG is required to reach the target bio content of [***], the
Supplier shall procure such required Bio-MEG and supply it to the Associated PET Supply Chain. 

  

	7.2	 Cooperation between the Parties 

Nestlé Waters and the Nestlé Waters Affiliates will utilize reasonable efforts to provide the Supplier and the Supplier
Affiliates with technical advice, consultation, cooperation and support in arranging, and negotiating with, the Third Party Manufacturer(s). In the event any constraint or difficulty appears with regard to the Third Party Manufacturer(s),
Nestlé Waters and the Nestlé Waters Affiliates shall provide reasonable cooperation to the Supplier and the Supplier Affiliates and any and all Third Party Manufacturers to solve such constraint or difficulty. In case Nestlé
Waters or the Nestlé Waters Affiliates fail to resolve such constraint or difficult, they shall not be liable for any indemnification towards the Supplier and such failure shall not reduce in any way the obligations of the Supplier and the
Supplier Affiliates hereunder towards Nestlé Waters and the Nestlé Waters Affiliates. 
  

	7.3	 Failure to meet the quality requirement 

 

	 	7.3.1	 If the Supplier or any Supplier Affiliate fails to meet any quality requirement for Products as described in
this Offtake Supply Agreement and/or any of the Technical Specifications, the Nestlé Waters Affiliate concerned shall notify the Supplier and/ or the relevant Supplier Affiliate as soon as practicable, but in any case, within [***] from the
date on which the Products were found to be non-compliant. 

  

	 	7.3.2	 The Supplier shall, at the Supplier’s option, either (i) take back the
non-compliant Products and replace them with Products fully compliant with the aforementioned specifications as soon as practicable; or (ii) reimburse Nestlé Waters or the relevant Nestlé
Waters Affiliate for the price of the defective Products (or the defective part thereof), and, in both cases, reimburse Nestlé Waters or the relevant Nestlé Waters Affiliate for all reasonable costs associated with the non-compliance of the defective Products, without prejudice to any other damages, rights or remedies to which Nestlé Waters and/or Nestlé Waters Affiliates may be entitled. 

  
 Page 26 

	 	7.3.3	 Nestlé Waters shall take commercially reasonable measures to mitigate damages or other costs associated
with any such non-compliance. 

  

	 	7.3.4	 In the event the Supplier and/or the Supplier Affiliates are not able to produce the Products in material
compliance with Article 7.3.1, the Supplier shall promptly provide written notice thereof to Nestlé Waters and the Parties shall review in good faith the situation and any possible remediation. If the Parties fail to reach an agreement
on a possible remediation to the reasonable satisfaction of Nestlé Waters, Nestlé Waters shall be entitled to terminate this Offtake Supply Agreement in accordance with Article 20, without prejudice to any other damages, rights
or remedies to which Nestlé Waters and/or Nestlé Waters Affiliates may be entitled. 

  

	7.4	 Nestlé Waters Qualified Feedstock 

 

	 	7.4.1	 Nestlé Waters requires validation or certification from a third party of the long-term global
availability and sustainability (environmental, societal and economic) of the Feedstock. Such Feedstock must be sufficient to produce the equivalent of [***] of Bio-PET at [***] bio content coming from Bio-pX. If the Supplier is unable to provide third-party validation of the availability of such Feedstock within [***] following request by Nestlé Waters, then Nestlé Waters shall be entitled to
terminate this Offtake Supply Agreement in accordance with Article 20, without prejudice to any other damages, rights or remedies to which Nestlé Waters and/or Nestlé Waters Affiliates may be entitled. 

 

	 	7.4.2	 The Pioneer Plant will utilize a variety of Feedstocks, many of which are not Nestlé Waters Qualified
Feedstocks. These Feedstocks will be physically blended together as part of the Pioneer Plant’s process to produce the Raw Materials. 

  

	 	7.4.3	 The Supplier shall (or shall cause the relevant Supplier Affiliate to) maintain adequate books and records
identifying all Feedstocks utilized by the Pioneer Plant for the purpose of substantiating the quantity of Nestlé Waters Qualified Feedstocks used by the Pioneer Plant in each billing period such that Nestlé Waters (or Nestlé
Waters Affiliate) will be permitted to adequately support claims to the public that the Nestlé Waters Qualified Feedstock were allocated to the Products supplied to Nestlé Waters (or Nestlé Waters Affiliate) rather to any other
purchaser of Product during such billing period. 

  

	 	7.4.4	 The Parties understand and agree that the start-up and initial period
of operation of the Pioneer Plant will likely utilize Feedstocks that are not Nestlé Waters Qualified Feedstocks for the production of the Raw Materials. Subject to Article 7.4.2: 

 

	 	7.4.4.1	 During a [***] period commencing from the Commercial Operation Date Pioneer Plant, the Supplier and/or the
Supplier Affiliates shall use an allocated amount of at least [***] of Nestlé Waters Qualified Feedstocks for the manufacture of the Products supplied to Nestlé Waters; and 

  
 Page 27 

	 	7.4.4.2	 Thereafter, the Supplier and/or the Supplier Affiliates shall use an allocated amount of at least [***] of
Nestlé Waters Qualified Feedstocks for the manufacture of the Products derived from the Pioneer Plant and supplied to Nestlé Waters. 

  

	 	7.4.5	 In order to confirm the compliance of the Supplier and/or the Supplier Affiliates with Article 7.4.4,
Nestlé Waters is entitled to perform an audit according to the provisions of Article 16. 

  

	 	7.4.6	 In the event that Nestlé Waters or any Nestlé Waters Affiliate wishes to secure and provide
Nestlé Waters Qualified Feedstock to the Supplier or the relevant Supplier Affiliate, the purchase price as set out in Article 8 will be reduced by an amount equal to the corresponding reduction in the Supplier’s or the relevant
Supplier Affiliate’s costs of producing the Products. 

  

	 	7.4.7	 In the event the Supplier and/or the Supplier Affiliates are not able to produce the Products in accordance
with Article 7.4.4 and using such quantities of Nestlé Waters Qualified Feedstocks (or if the Supplier fails to allocate, on a contractual and accounting basis such Nestlé Waters Qualified Feedstocks), the Supplier shall
promptly inform Nestlé Waters thereof and the Parties shall review in good faith the situation and any possible remediation. If the Parties fail to reach an agreement on a possible remediation to the reasonable satisfaction of Nestlé
Waters, Nestlé Waters shall be entitled to terminate this Offtake Supply Agreement in accordance with Article 20, without prejudice to any other damages, rights or remedies to which Nestlé Waters and/or the Nestlé Waters
Affiliates may be entitled. 

  

	7.5	 Modification of the Technical Specifications 

 

	 	7.5.1	 Nestlé Waters shall inform the Supplier of any requested modifications to the Technical Specifications,
and the Supplier undertakes that it shall review such modifications to determine if they are technically and commercially feasible and, if so, to cooperate with Nestlé Waters to comply with such modified specifications as soon as reasonably
practicable. 

  

	 	7.5.2	 In case the requested modifications to the Technical Specifications result in additional costs or savings, such
costs or savings will be borne by/attributed to Nestlé Waters, unless they are required by a Change in Law in which case they shall be attributed equally to both Parties. 

  
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	8.	 PRICE, PREPAYMENT AND PAYMENT 

 

	8.1	 Price for the Products 

 

	 	8.1.1	 The price for the Products provided by the Supplier and the Supplier Affiliates to Nestlé Waters and the
Nestlé Waters Affiliates during the term of this Offtake Supply Agreement is set forth in Appendix 3. 

  

	 	8.1.2	 The price shall include all fees and costs in relation to the supply of the Products except as specifically
provided in this Offtake Supply Agreement. 

  

	 	8.1.3	 Subject to Article 8.2, no cost shall be borne by Nestlé Waters and/or the Nestlé Waters
Affiliates before the signature of any Orders. 

  

	8.2	 Lump sum advance payment 

 

	 	8.2.1	 The payments of the Advance Payment Amount (together with interest thereon accruing under the Secured
Promissory Note) will be treated as a credit against the monthly payments referred to in Article 8.4 for Raw Materials manufactured and Products supplied by the Supplier or the Supplier Affiliate to Nestlé Waters or the Nestlé
Waters Affiliates hereunder. The aggregate credit amount (including the principal repayment) shall be equal to [***] and shall be applied in [***]. 

  

	 	8.2.2	 In order to secure the recovery of such advance payments following certain events of termination of this
Offtake Supply Agreement, the Supplier has executed, prior to or contemporaneously with this Offtake Supply Agreement, the Secured Promissory Note, and subject to Article 21.5, the Security Documents together with such other documents as
shall reasonably be deemed necessary by Nestlé Waters to perfect its security interests in the assets of the Supplier or the relevant Supplier Affiliates as provided in the Security Documents. 

 

	8.3	 Reserved 

  

	8.4	 Payments 

The price per MT of the Products invoiced will be calculated as set forth in Appendix 3. 

 

	8.5	 Suspension of payment and penalties 

 

	 	8.5.1	 In the event that the Supplier or the Supplier Affiliates have not commenced delivery of Products on or before
the Pioneer Plant Bio-PET Penalty Date, Liquidated Damages will be due by the Supplier to Nestlé Waters or the Nestlé Waters Affiliates as per Article 24. 

  
 Page 29 

	 	8.5.2	 In the event of insufficient, delayed and/or non-compliant Raw
Materials and/or Products, the payment for that portion of insufficient, delayed and/or non-compliant Products shall be postponed and shall start from the date of the delivery meeting all requirements of the
Order. 

  

	8.6	 VAT 

All sums payable under this Offtake Supply Agreement [***] If applicable, VAT and such other Applicable Taxes shall [***]  

 

	8.7	 Payment term 

Payment on all invoices will be [***], with interest accruing on late payments at the rate of [***]. Additional invoicing and payment
conditions are set forth in Appendix 3. 
  

	9.	 QUANTITIES 

  

	9.1	 Minimum undertaking 

Within [***] of the execution of this Offtake Supply Agreement, Nestlé Waters will select one of the following minimum undertakings,
provided, however, that if it does not make such a selection, Option 1 shall apply. 
 Option 1: 

During each calendar year comprised during the five-year term of this Offtake Supply Agreement starting from the Start Date, the Nestlé
Waters Affiliates shall purchase from the Supplier or the relevant Supplier Affiliates not less than the total volume of [***] of Bio-PET and [***] of PEF, as indicated in Appendix 6, subject to
Article 14.2 and the conditions below and, to be reduced [***] in respect of the year of the Start Date and the [***] following the year of the Start Date. Notwithstanding the foregoing, the minimum undertaking of Nestlé Waters to
purchase PEF shall not commence until each of the following conditions have been met, each of which shall be determined by Nestlé Waters in its reasonable discretion: 

9.1.1    [***] 

9.1.2    [***] 

  
 Page 30 

 9.1.3    [***] 

9.1.4    [***] 

Option 2: 
 During each calendar
year comprised during the five-year term of this Offtake Supply Agreement starting from the Start Date, the Nestlé Waters Affiliates shall purchase from the Supplier or the relevant Supplier Affiliate not less than the total volume of [***]
of Bio-PET, as indicated in Appendix 6, subject to Article 14.2 and to be reduced [***] in respect of the year of the Start Date and the [***] following the year of the Start Date. 

 

	9.2	 Forecasts 

  

	 	9.2.1	 At least [***] prior to the Expected Commercial Operation Date Pioneer Plant, Nestlé Waters and/or the
Nestlé Waters Affiliates shall irrevocably confirm to the Supplier the aggregate annual volume of Products for each year of the term of the Offtake Supply Agreement, which shall be within the range specified in Appendix 6. Such
annual volume may be adjusted, subject to prior written agreement between the Parties and further to discussions with the Alliance Members. 

  

	 	9.2.2	 Nestlé Waters Affiliates may, from time to time, agree with the Supplier or the Supplier Affiliates on
certain forecasted Orders as per Appendix 6. 

  

	10.	 ORDER – DELIVERY 

 

	10.1	 Nestlé Waters Affiliates shall directly place the Orders with the Supplier (and/or the Supplier
Affiliates). Each Order shall state the quantity of Products, the delivery date and the place of delivery. The annual aggregate quantity of Products in the Orders shall be as set forth in Article 9 and shall comply with the conditions set out
in the LCA study. 

  

	10.2	 This Offtake Supply Agreement, in particular the terms of Appendix 2 and Appendix
3, shall apply automatically to all the Orders. The Supplier shall deliver the Products in compliance with the terms and conditions of this Offtake Supply Agreement. 

 

	10.3	 The Supplier commits to (or to cause the relevant Supplier Affiliate to) acknowledge receipt and confirm
(provided such Order is consistent with this Offtake Supply Agreement) the Order within [***] after its receipt thereof. 

  

	10.4	 The Supplier shall (or shall cause the relevant Supplier Affiliate to) inform the relevant Nestlé
Waters Affiliate of any issue which might impact the performance of any Order, promptly after becoming aware of it. 

  
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	10.5	 Final acceptance of the Products shall automatically take place within [***] calendar days of delivery
to the relevant Nestlé Waters Affiliate. Under no circumstances shall a delivery receipt signed by a Nestlé Waters Affiliate be deemed as an acceptance of the Products.  

 

	10.6	 If the Supplier (and/or the relevant Supplier Affiliate) fails to meet the quantity requirements, the
relevant Nestlé Waters Affiliate shall express usual reservations to the carrier upon receipt of the Products and shall notify the Supplier (and/or the relevant Supplier Affiliate) of such
non-compliance within [***] from delivery, by registered mail with acknowledgment of receipt. The Supplier (and/or the relevant Supplier Affiliate) shall utilize reasonable efforts to remedy the non-compliance, at its own costs, within the capabilities of the Pioneer Plant to produce Raw Materials and manage the supply the Products in conjunction with the Third Party Manufacturer(s) as promptly as
reasonably possible. 

  

	10.7	 In the event the Supplier and/or the Supplier Affiliates continue to be unable to meet the above
quantity requirements at the price established in this Offtake Supply Agreement and after application of the remedies provided as per Article 13, the Supplier shall promptly inform Nestlé Waters thereof and the Parties shall review in
good faith the situation and any possible remediation. If the Parties fail to reach an agreement on a possible remediation to the reasonable satisfaction of Nestlé Waters, Nestlé Waters shall be entitled to terminate this Offtake
Supply Agreement in accordance with Article 20. 

  

	11.	 CUSTOMS CLEARANCE 

The Supplier shall obtain all the necessary customs authorizations required to export the Products from the territories where the relevant
sites of the Supplier, the Supplier Affiliates or the Third Party Manufacturers are based. Accordingly, the Supplier (or the relevant Supplier Affiliate) shall be responsible for compliance with all Applicable Laws in connection with customs and
regulations (including, subject to Article 8.6, the remittance of all Applicable Taxes) relating to the export of the Products. 
  

	12.	 TITLE AND RISKS 

 

	12.1	 Title and risk of loss shall pass from the Supplier Group upon loading of the Products by Nestlé
Waters’s or the Nestlé Waters Affiliate’s designated carrier at the relevant Third Party Manufacturer’s plant, in accordance with [***]. 

 

	12.2	 Any retention of ownership clause contained in an Order acknowledgement or other Supplier form from the
Supplier or the Supplier Affiliates shall be void and without effect. 

  
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	13.	 PRODUCTION CAPACITY [***] 

 

	13.1	 Production capacity 

 

	 	13.1.1	 The Supplier and the Supplier Affiliates shall ensure that the production capacity of Products exceeds at all
times the forecasted volumes of Nestlé Waters Affiliates by [***]. This additional production capacity shall be maintained for the benefit of the Nestlé Waters Affiliates only. 

 

	 	13.1.2	 If the Supplier and the Supplier Affiliates are not in a position to produce the requested volume of Products
for Nestlé Waters and the Nestlé Waters Affiliates (including in case of a Force Majeure event), they shall [***] 

  

	 	13.1.3	 As an alternative to the Supplier’s procedures of substitution [***] 

 

	13.2	 [***] 

  

	 	13.2.1	 Following the Commercial Operation Date New Plant, the Supplier and/or the Supplier Affiliates undertake to
[***] For this purpose, the Supplier shall make commercially reasonable efforts to stipulate, in written form, [***] with each Nestlé Waters Affiliate. [***] For the avoidance of doubt, the Supplier and/or the Supplier Affiliates shall [***]

  

	 	13.2.2	 The Supplier and the Supplier Affiliates shall be responsible for [***] 

 

	 	13.2.3	 The [***] shall [***] 

  
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	13.3	 [***] 

  

	 	13.3.1	 In [***], the Supplier and the Supplier Affiliates shall in particular (without limitation):

  

	 	(i)	 [***] in compliance with any instruction that the relevant Nestlé Waters Affiliate may from time to time
provide; 

	 	(ii)	 Take all the necessary safety measures to [***] 

	 	(iii)	 Properly [***] in accordance with common business practices in this regard; 

	 	(iv)	 [***] 

	 	(v)	 Not use [***] without the express permission of the relevant Nestlé Waters Affiliate; and

	 	(vi)	 Clearly [***] and inform Nestlé Waters promptly of the same in writing. 

 

	 	13.3.2	 The Supplier shall ensure that the Third Party Manufacturer(s) will apply such rules. 

 

	 	13.3.3	 Both Parties commit to have regular communications with respect to [***] 

 

	13.4	 [***] 

  

	 	13.4.1	 Subject to Article 13.4.2 below, Nestlé Waters and the relevant Nestlé Waters Affiliates
shall be entitled, if the Supplier is in breach of any of its material obligations under this Offtake Supply Agreement, subject to Article 20.3, without restriction, formality or authorization, subject only to reasonable prior notice, to
[***] or to request the Supplier and the Supplier Affiliates to [***] from [***] Any such [***] except in case [***] in which case such [***] will be at the Supplier’s or the relevant Supplier Affiliate’s cost. 

 

	 	13.4.2	 This Article 13.4 shall apply only to [***] 

  
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	 	13.4.3	 Furthermore, Nestlé Waters and the Nestlé Waters Affiliates shall be entitled to take the same
actions as set forth in Article 13.4.1 above without notice in the following circumstances: 

  

	 	(i)	 the Supplier or the Supplier Affiliates are subject to a Bankruptcy Event; 

 

	 	    	 or 

	 	(ii)	 the Supplier is subject to a Change of Control or the relevant Supplier Affiliates are not controlled, directly
or indirectly, by the Supplier. 

  

	 	13.4.4	 The Supplier and the Supplier Affiliates shall give Nestlé Waters and the Nestlé Waters
Affiliates (or any third party acting on their behalf) reasonable access to their plants and premises, subject to operational and safety constraints, for the purpose of [***] and shall assist Nestlé Waters to the fullest extent possible [***]
Nestlé Waters and the Nestlé Waters Affiliates shall be [***] 

  

	14.	 [***] 

  

	14.1	 [***] 

  

	 	14.1.1	 In the event, during the term of this Offtake Supply Agreement, the Supplier and/or the Supplier Affiliates
[***] the Supplier or the relevant Supplier Affiliates shall provide Nestlé Waters and the relevant Nestlé Waters Affiliates with a written notice thereof [***] which notice shall include [***] which notice shall include [***]

  

	 	14.1.2	 Nestlé Waters and the relevant Nestlé Waters Affiliates shall [***] for the avoidance of doubt,
[***] then the Supplier and/or Supplier Affiliates shall promptly notify [***] which the Supplier and/or Supplier Affiliates shall 

  
 Page 35 

	 	    	 [***] 

  

	 	14.1.3	 Such [***] shall be [***] according to the terms of this Offtake Supply Agreement, in particular as to [***]

  

	 	14.1.4	 The above right must be exercised in writing [***] 

 

	 	14.1.5	 For the avoidance of doubt, the parties acknowledge and agree that [***] 

 

	14.2	 [***] 

  

	 	14.2.1	 The Supplier expects to [***], some or all of which [***] 

 

	 	14.2.2	 In the event, during the term of this Offtake Supply Agreement, the Supplier and/or the Supplier Affiliates
[***] the Supplier or the relevant Supplier Affiliates shall provide Nestlé Waters and the relevant Nestlé Waters Affiliates promptly with a written notice thereof [***] which notice shall include [***] 

 

	 	14.2.3	 Nestlé Waters and the relevant Nestlé Waters Affiliates shall [***] For the avoidance of doubt
[***] then the Supplier and/or Supplier Affiliates shall promptly notify [***] 

  
 Page 36 

	 	14.2.4	 Such [***] shall be [***] according to the terms of this Offtake Supply Agreement, in particular as to [***]

  

	 	14.2.5	 The above right must be exercised in writing [***] already subject to this Offtake Supply Agreement.

  

	 	14.2.6	 To the extent that [***] The Supplier and the relevant Supplier Affiliates shall [***] 

 

	 	14.2.7	 For the avoidance of doubt, the parties acknowledge and agree that [***] 

 

	14.3	 [***] 

  

	 	14.3.1	 During the term of this Offtake Supply Agreement, the Supplier or the relevant Supplier Affiliates shall
provide Nestlé Waters with regular periodic updates on the status and timing of the construction of the New Plant and its production capacity and will provide Nestlé Waters with written notice when it intends to commence development of
New Plant. 

  

	 	14.3.2	 In respect of New Plant’s production, the Parties intend [***] The Parties agree [***] as the Parties may
mutually agree. 

  

	 	14.3.3	 In addition to [***] set forth in Article 14.3.2, [***] the Supplier and the relevant Supplier
Affiliates will [***] in writing [***] 

  

	 	14.3.4	 Nestlé Waters’s [***] must be exercised in writing [***] of receipt by Nestlé or the
Nestlé Waters Affiliates of the above written notice and must [***] Nestlé Waters may [***] 

  
 Page 33 

	 	14.3.5	 For the avoidance of doubt, the parties acknowledge and agree that [***] 

 

	14.4	 [***] 

  

	 	14.4.1	 In the event the Supplier and/or the Supplier Affiliates [***] the Supplier or the relevant Supplier Affiliates
shall [***] 

  

	 	14.4.2	 Nestlé Waters and the relevant Nestlé Waters Affiliates shall [***] 

 

	 	14.4.3	 Such [***] shall [***] according to the terms of this Offtake Supply Agreement, in particular as to [***]

  

	 	14.4.4	 The above right must be exercised in writing [***] 

 

	14.5	 Non circumvention 

The Supplier and the relevant Supplier Affiliates shall ensure that the provisions of this Article 14 are not circumvented by any third
parties, including any other Alliance Members. 
  

	15.	 [***] 

  

	15.1	 During the term of this Offtake Supply Agreement, the Supplier and the relevant Supplier Affiliates
shall [***] The Supplier and the relevant Supplier Affiliates will [***] 

  
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	15.2	 

  

	 	15.2.1	 Subject to Article 15.2.3, for each month following the Commercial Operation Date New Plant, the
Supplier or the relevant Supplier Affiliate will [***] 

	 	    	 15.2.1.1 [***] 

	 	    	 15.2.1.2 [***] 

  

	 	15.2.2	 Subject to Article 15.2.3, for each month following the New Plant Long Stop Date, the Supplier or the
relevant Supplier Affiliate will provide [***] 

  

	 	15.2.3	 Such [***] 

  

	 	15.2.4	 For illustrative purposes, Appendix 25 provides an example of [***] 

 

	15.3	 Once [***] the obligations under Article 15.1 shall only [***] 

 

	15.4	 If Nestlé Waters elects to enter into a new offtake agreement with the Supplier during or after
the term of this Offtake Supply Agreement for the purchase of Raw Materials Products and/or Products for use in Nestlé Waters’ Market, the Supplier and the relevant Supplier Affiliates shall [***] 

  
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	16.	 AUDIT AND FINANCIAL REVIEW RIGHTS 

 

	16.1	 Nestlé Waters, through any Nestlé Waters Affiliate or its authorized agent, is entitled to
perform, at a reasonable frequency [***], audits, inspections and observations of the Supplier’s (or the relevant Supplier Affiliates’) site where Feedstocks, Raw Materials Products or Products are manufactured and/or stored, and all
pertinent documents and other information, including any books, records and accounts, in any way related to the Supplier’s or the relevant Supplier Affiliates’ performance under this Offtake Supply Agreement (including the Supplier’s
and the relevant Supplier Affiliates’ processes and procedures), Products, or any payment or other transaction occurring in connection with this Offtake Supply Agreement, for the purposes of confirming compliance with the Supplier’s or the
relevant Supplier Affiliates’ Feedstocks utilized, adherence to the Nestlé Corporate Business Principles and the Nestlé Supplier Code and its Appendix set out in Appendix 13, [LCA related requirements] and bio-content obligations hereunder. 

  

	16.2	 The Supplier undertakes to cooperate fully and in good faith with Nestlé Waters and such auditors
by giving them reasonable access to any relevant information regarding the Feedstocks, Raw Materials Products and the Products and their conditions of storage and traceability for the above purposes. 

 

	16.3	 The Supplier shall use reasonable efforts to make such audit right applicable in respect of any Third
Party Manufacturer’s site used in the manufacturing process of Products. 

  

	16.4	 Any document, information or data that Nestlé Waters (or its Affiliates or its authorized agents)
may obtain during the audit (whether written, oral or visual), as well as the subsequent audit report itself, shall be considered and treated as Confidential Information, in accordance with the terms of this Offtake Supply Agreement.

  

	16.5	 It is expressly agreed between the Parties that this right of audit shall be carried in compliance with
the Supplier’s and the relevant Supplier Affiliates’ staff working conditions and shall not unreasonably disrupt the manufacturing process of the Supplier or the Supplier Affiliates and in compliance with Supplier’s and the relevant
Supplier Affiliates’ reasonable safety protocols. 

  

	16.6	 Audits carried out by Nestlé Waters (or its Affiliates or its authorized agents) shall not limit
or reduce the Supplier’s liability under this Offtake Supply Agreement. 

  

	16.7	 The Supplier or the relevant Supplier Affiliates shall reimburse Nestlé Waters for all amounts
associated with errors discovered during an audit. 

  

	16.8	 The Supplier shall provide Nestlé Waters with copies of financial statements on a regular basis
at [***]. 

  
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	17.	 INTELLECTUAL PROPERTY 

 

	17.1	 General rules 

 

	 	17.1.1	 Subject to the provisions of the PET Alliance Agreement, all Intellectual Property Rights supplied by a Party
for the manufacture of the Products are the exclusive property of that Party and the other Party does not acquire (nor does any third party), by its activity or the performance of its obligations hereunder, any ownership or any license or any other
right whatsoever on these Intellectual Property Rights. 

  

	 	17.1.2	 Except as provided in Article 17.2, nothing in this Offtake Supply Agreement shall be construed as a
license, assignment or an obligation for Nestlé Waters (and/or its Affiliates as applicable) to grant a license or assign any of its Pre-Existing IP or any Intellectual Property Rights relating to any
Improvement, Result or Customized Design to the Supplier. 

  

	 	17.1.3	 The Supplier shall indemnify Nestlé Waters and its Affiliates and hold Nestlé Waters and its
Affiliates harmless from and against all claims and lawsuits for infringement of Intellectual Property Rights that result from the production of Bio-pX or FDCA. 

 

	17.2	 Co-developed Products 

The terms and conditions of Parties’ relationship regarding co-developed Products are provided in
the PET Alliance Agreement. 
  

	17.3	 License 

In accordance with Article 21.5, in order to secure the recovery of such advance payment in certain events of termination of this
Offtake Supply Agreement, the Supplier has executed, contemporaneously with this Offtake Supply Agreement, the Secured Promissory Note, which Secured Promissory Note is secured, inter alia, by a security interest the Intellectual Property
License. 
  

	18.	 FORCE MAJEURE 

 

	18.1	 Subject to the provisions of Article 13.1.2 relating to implementation procedures of
substitution, neither Party shall be responsible for a failure to perform its contractual obligations hereunder, if such failure is due to a Force Majeure event as defined by Applicable Laws and by the below provisions (hereafter referred to as
Force Majeure). 

  

	18.2	 Under this Offtake Supply Agreement, subject to Article 18.3, Force Majeure events shall include
(without limitation): 

  

	 	(i)	 [***] 

	 	(ii)	 [***] 

	 	(iii)	 [***] 

  
 Page 41 

	 	(iv)	 [***] 

	 	(v)	 [***] 

	 	(vi)	 [***] 

	 	(vii)	 [***] 

  

	18.3	 However, the following events (without limitation) shall not constitute Force Majeure events under this
Offtake Supply Agreement: 

  

	 	(viii)	 [***] 

	 	(ix)	 [***] 

  

	18.4	 The Party claiming to be affected by a Force Majeure event shall use its best efforts to mitigate the
consequences of that event and shall notify the other Party as soon as possible from the occurrence of the Force Majeure event. The Parties shall promptly consult each other in order to assess the consequences of such situation and to try to resume
the performance of this Offtake Supply Agreement. 

  

	18.5	 During any Force Majeure event, [***] 

 

	18.6	 If the Force Majeure event lasts [***] and failing any agreement between the Parties within that period,
each Party shall have the right to terminate this Offtake Supply Agreement in accordance with Article 20. In the event of a termination under this Article 18.6, this Offtake Supply Agreement will be terminated without any damages to be
borne by either Party with respect to the Force Majeure event. 

  

	19.	 TERM 

  

	19.1	 This Offtake Supply Agreement shall come into force upon execution by the Parties and shall remain in
full force and effect for five (5) years from the Start Date except in case of earlier termination in accordance with the terms of this Offtake Supply Agreement. 

 

	20.	 TERMINATION 

  

	20.1	 Termination for breach 

Subject to the notice and cure provisions in Article 20.3, and without prejudice to any other damages, rights or remedies to which it
may be entitled, either Party shall be entitled to terminate this Offtake Supply Agreement by written notice delivered in accordance with Article 37.3, without any obligation to carry out any further formality

  
 Page 42 

 
or initiate court proceedings, if the other Party is in breach of any of the provisions of this Offtake Supply Agreement and either the breach cannot be cured or, if the breach can be cured, it
is not cured by the other Party within a commercially reasonable period of time under the circumstances, in no case exceeding [***] days following receipt of written notice of such breach. In the event Nestlé Waters terminates this Offtake
Supply Agreement for breach, Nestlé Waters shall retain all its rights to license the Intellectual Property Rights as set forth in the Limited Intellectual Property License attached as Appendix 18. 

 

	20.2	 Other cases of termination 

Subject to the notice and cure provisions in Article 20.3, this Offtake Supply Agreement may also be terminated in the following
circumstances upon written notice, without any obligation to carry out any further formality or to initiate court proceedings: 
  

	 	(i)	 In accordance with the terms of Article 4 (Conditions Precedent); 

 

	 	(ii)	 In accordance with the terms of Article 5 (Pioneer Plant, Penalties and Downstream Conversion);

  

	 	(iii)	 In accordance with the terms of Article 6 (New Plant); 

 

	 	(iv)	 In accordance with the terms of Article 7 (Production; Quality); 

 

	 	(v)	 In accordance with the terms of Article 10 (Order—Delivery); 

 

	 	(vi)	 In accordance with the terms of Article 18 (Force Majeure); 

 

	 	(vii)	 In accordance with the terms of Article 27 (Change of Control); 

 

	 	(viii)	 In accordance with the terms of Article 29 (Compliance with Sustainability Principles);

  

	 	(ix)	 In the event either Party is taking steps to enter into liquidation or is subject to bankruptcy proceedings or
is entering into a deed of arrangement for the benefit of its creditors or is committing or suffering any equivalent act or thing under any Applicable Law; 

  

	 	(x)	 In the event (a) the Third Party Manufacturer, any Associated PET Supply Chain or, if applicable, any
Associated PEF Supply Chain, is taking steps to enter into liquidation or is subject to bankruptcy proceedings or is entering into a deed of arrangement for the benefit of its creditors or is committing or suffering any equivalent act under any
Applicable Law and (b) no substitute Third Party Manufacturer, Associated PET Supply Chain, or Associated PEF Supply Chain, as applicable, can be found within [***] after either Party informing the other Party of such event;

  

	 	(xi)	 In the event the Supplier fails to comply with any of the Long Stop Dates; 

 

	 	(xii)	 In the event the Supplier repudiates, or threatens to repudiate, any of its obligations under this Offtake
Supply Agreement; 

  

	 	(xiii)	 If the Supplier takes any action, or fails to take any action, required under this Offtake Supply Agreement, or
as reasonably requested by Nestlé Waters, the result of which is any imminent interruption or delay, or the threat of an imminent interruption or delay, in any production at any of Nestlé Waters’s manufacturing facilities;

  
 Page 43 

	 	(xiv)	 In the event Nestlé Waters or the Nestlé Waters Affiliates fail to pay any amounts in excess of
[***] payable according to Article 8, and such failure is not justified under the terms and conditions of this Offtake Supply Agreement; or 

  

	 	(xv)	 In the event (i) the Supplier, through a qualified third party approved by Nestlé Waters, fails to
demonstrate to Nestlé Waters within [***] of the Effective Date that sourcing for old corrugated cardboard (OCC) and pine wood Feedstocks are sustainable on environmentally, economically and social standpoints for a volume of [***] or
(ii) Nestlé Waters demonstrates at any time thereafter that either of the three sustainability pillars mentioned above are not maintained. 

  

	20.3	 Prior written notice 

If a Party wishes to invoke its right to terminate this Offtake Supply Agreement for any reason other than the failure of the Supplier to
achieve the Long Stop Dates, such Party shall first, provide the other Party with written notice of its intent to terminate this Offtake Supply Agreement, delivered in accordance with Article 37.3. Such notice shall include adequate specific
description of the reason for such termination, together with reasonable supporting documentation if applicable. The breach shall then be remedied within [***] from that notice, or if such breach cannot be cured within [***] the breaching Party
shall commence a cure and provide an adequate written plan for implementing the cure within a mutually satisfactory time. If such breach is not cured within such time, or cannot be cured within a mutually satisfactory time, the complaining Party is
entitled to terminate this Offtake Supply Agreement pursuant to Article 20.1 without any further action or legal proceeding being required. 
  

	21.	 CONSEQUENCES OF EXPIRATION AND TERMINATION 

 

	21.1	 In case of expiration or termination of this Offtake Supply Agreement, for any reason:

  

	 	(i)	 the Supplier shall fulfil the Orders in force except in the case of termination pursuant to Article
20.2(xiv) (Nestlé Waters’s failure to pay) whereby Article 21.2 shall apply; and 

  

	 	(ii)	 each Party shall immediately return to the other Party all Confidential Information and technical documents
owned by the other Party and shall cease to use any such Confidential Information or technical documents. This provision shall not apply if Nestlé Waters terminates this Offtake Supply Agreement for breach of contract pursuant to Article
20.1. 

  

	21.2	 In the event of termination pursuant to Article 20.2(xiv) (Nestlé Waters’s failure to
pay): 

  

	 	21.2.1	 Subject to Article 21.2.2, Nestlé Waters shall [***] specified under this Offtake Supply
Agreement and the Supplier or the relevant Supplier Affiliates shall [***] 

  
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	 	21.2.2	 [***] 

  

	 	21.2.3	 The Supplier shall have a good faith obligation to [***] 

 

	21.3	 Termination or expiry of this Offtake Supply Agreement, however caused, shall be without prejudice to
any obligations or rights of either of the Parties which may have accrued before termination or expiry and shall not affect any provision of this Offtake Supply Agreement which is expressly or by implication intended to come into effect on, or to
continue in effect after, such termination or expiry including without limitation Articles 14 (Priority Rights to Additional Product), 15 (Competitive Advantage), 17 (Intellectual Property), 21 (Consequences of Expiration
and Termination), 22 (Representations and Warranties- Specific Commitments), 23 (Liability and Insurance), 31 (Confidentiality—Public Announcements), 32 (Non Solicitation), 34 (Independent Parties) and
37.8 (Applicable Law—Jurisdiction). 

  

	21.4	 Subject to Article 21.2 (and except as otherwise expressly provided in the Secured Promissory
Note), any remaining and unapplied portion of the credit for prepayment pursuant to Article 8 at the time of termination or expiry shall be reimbursed to Nestlé Waters within [***] after termination or expiry of this Offtake Supply
Agreement. 

  

	21.5	 In order to ensure Nestlé Waters’s rights to prompt payment and compliance with the terms of
the Secured Promissory Note, if a payment default occurs and during the continuance thereof beyond any applicable notice and cure periods, then Nestlé Waters shall provide written notice thereof to the Supplier and after the expiration of
such applicable cure period, Nestlé Waters may take any or all of the following actions in successive order as noted below, and in each case, in its reasonable discretion: 

21.5.1    [***] 

21.5.2    [***] 

21.5.3    [***] 

  
 Page 45 

 [***] 

21.5.4    [***] 

21.5.5    [***] 

21.5.6    [***] 

21.5.7    [***] 
  

	22.	 REPRESENTATIONS AND WARRANTIES- SPECIFIC COMMITMENT 

 

	22.1	 Each Party represents, warrants and covenants to the other that in connection with this Offtake Supply
Agreement and the Security Documents to which it is a party: 

  

	 	(i)	 It is a company duly incorporated, validly existing and in good standing under Applicable Laws;

  

	 	(ii)	 It has the legal right and authority to perform its obligations under this Offtake Supply Agreement and the
Security Documents to which it is a party and such obligations will constitute valid and binding obligations on that Party, in accordance with their terms; 

  

	 	(iii)	 All authorizations, consents, approvals and any other action by, and all notices to and filings or
registrations with, any Governmental Authority and regulatory body that are required for the making, performance, validity or enforceability of this Offtake Supply Agreement and the Security Documents to which it is a party have been duly obtained
or made and are in full force and effect; 

  

	 	(iv)	 It is not a party to any contract or other arrangement which would cause that Party to breach this Offtake
Supply Agreement or the Security Documents to which it is a party; 

  

	 	(v)	 It is not insolvent and is paying all of its debts as they become due; and 

 

	 	(vi)	 It has not granted any licenses, rights, or options of any kind, which would cause that Party to breach this
Offtake Supply Agreement or the Security Documents to which it is a party. 

  
 Page 46 

	22.2	 The Supplier represents, warrants and covenants to Nestlé Waters that in connection with this
Offtake Supply Agreement and the Security Documents to which it is a party: 

  

	 	(i)	 There is no claim made or threatened against the Supplier asserting the invalidity, misuse, unenforceability or
misappropriation of its Intellectual Property Rights used for Products, and it is not aware of any fact or circumstance in support of such claim; 

  

	 	(ii)	 The Products shall be manufactured in compliance with current good manufacturing practices for food ingredients
according to the applicable regulations; 

  

	 	(iii)	 The Products will (i) conform in all material respects, to the specifications and quality requirements
specified by Nestlé Waters for the Products as set forth herein; (ii) be merchantable and free from defects in design, material and workmanship, (iii) be fit and sufficient for the particular purpose intended by Nestlé Waters
and its customers, of which the Supplier is actually aware (for the avoidance of doubt, as of the date of entering this Offtake Supply Agreement, Nestlé Waters intends to use the Products as raw materials to manufacture preforms and
containers destined to hold and commercialize beverages, in particular water, for human consumption); (iv) will maintain overall quality and service level with respect to the Product equal to our better than other suppliers of the similar Products;
and (v) each of the Products will be conveyed by the Supplier (or the relevant Supplier Affiliate) to Nestlé Waters or the relevant Nestlé Waters Affiliate with good title, free and clear of all encumbrances;

  

	 	(iv)	 The Supplier will undertake to (or cause the relevant Supplier Affiliates to) perform its services under the
Offtake Supply Agreement in a professional manner and that all manufacturing processes to produce the Products, services and deliverables provided under this Offtake Supply Agreement and the Supplier’s or the relevant Supplier Affiliates’
manufacturing and packaging facilities will be in compliance with Applicable Laws; 

  

	 	(v)	 It (or the relevant Supplier Affiliates) has the operational and technical capacity to deal with all the third
parties involved in the Associated PET Supply Chain or in the Associated PEF Supply Chain; 

  

	 	(vi)	 All Bio-pX manufactured will meet the Technical Specification Bio-pX and Products supplied to Nestlé Waters or the Nestlé Waters Affiliates will meet the Technical Specifications Bio-PTA,
Bio-PET and Bio-PEF and the Technical Specifications for Plastic Bottles set out in Appendices 2, 11 and 12;

  

	 	(vii)	 The Bio-pX, Raw Materials Products and Products can be safely
incorporated into and/or used safely in beverage and food products for human consumption; 

  

	 	(viii)	 All income and other tax returns of the Supplier required by Applicable Law to be filed have been duly filed,
and all taxes, assessments and other governmental charges (other than those which can be paid without penalty) upon them or upon any of their respective properties shown thereon have been paid to the extent that such taxes, assessments and other
governmental charges have become due and payable and are not being contested in good faith, except where the failure to make such filings or pay such taxes, assessments and other governmental charges would not cause a Material Adverse Change; the
charges, accruals and reserves on the books of the Supplier in respect of taxes are adequate in all material respects and no additional assessments exist for any year therefore which exceed such reserves; 

  
 Page 47 

	 	(ix)	 All the information and documents communicated to Nestlé Waters in connection with this Offtake Supply
Agreement and the Security Documents are true, complete and accurate to the best of Supplier’s knowledge; 

  

	 	(x)	 The Supplier shall (or shall cause the relevant Supplier Affiliates to), at the Supplier’s or the relevant
Supplier Affiliates’ sole cost and expense, take such actions as are necessary or appropriate to ensure the uninterrupted supply of Products to Nestlé Waters for not less than [***] during any foreseeable or anticipated event or
circumstance that could interrupt or delay the Supplier’s performance under this Offtake Supply Agreement, including any labor disruption unless such occurrence constitutes a Force Majeure event hereunder; and 

 

	 	(xi)	 The Supplier (or the relevant Supplier Affiliates) has the (technical) experience and ability in the field of
the intermediate chemical and resin manufacture to perform all required activities under this Offtake Supply Agreement with a standard of quality expected from an expert in such field of activity. 

 

	22.3	 The Supplier and/or the Supplier Affiliates shall enter into a Services and Supply Agreement with one or
more Third Party Manufacturers approved in writing by Nestlé Waters, who are collectively capable of converting the Raw Materials to Products at the volumes of Product and at the quality level as contemplated in this Offtake Supply Agreement.

  

	23.	 LIABILITY AND INSURANCE 

 

	23.1	 The Supplier and the Supplier Affiliates shall at their sole expense fully indemnify, defend and hold
harmless the Nestlé Waters Group and their respective directors, employees, attorneys, affiliates, successors and permitted assigns, and agents from any and all losses, claims, actions, liabilities, damages, judgments, interest, settlements,
penalties, fines, losses, costs and expenses of whatever kind, including reasonable attorneys’ fees, incurred as a result of (i) any breach of any representation, warranty or covenant of the Supplier or any Supplier Affiliate or
subcontractor set forth in this Offtake Supply Agreement and the Security Documents or (ii) any gross negligence or willful misconduct in the performance or non-performance of this Offtake Supply
Agreement and the Security Documents, including its Appendices or any Orders, by the Supplier, the Supplier Affiliates or any of their authorized subcontractors and/or partners. 

 

	23.2	 Nestlé Waters and the Nestlé Waters Affiliates shall at their sole expense fully
indemnify, defend and hold harmless the Supplier Group and their respective directors, employees, attorneys, affiliates and agents from any and all losses, claims, actions, liabilities, damages, judgments, interest, settlements, penalties, fines,
losses, costs and expenses of whatever kind, including reasonable attorneys’ fees, incurred as a result of any breach of any representation, warranty or covenant of Nestlé Waters or any Nestlé Waters Affiliate set forth in this
Offtake Supply Agreement. 

  

	23.3	 NOTWITHSTANDING THE FOREGOING, IN NO EVENT SHALL EITHER THE SUPPLIER GROUP OR THE NESTLÉ WATERS
GROUP BE LIABLE TO THE OTHER PARTY OR THE OTHER PARTY’S INDEMNITEES UNDER ANY PROVISION OF THIS OFFTAKE SUPPLY AGREEMENT OR THE SECURITY 

  
 Page 48 

	 	DOCUMENTS (INCLUDING, WITHOUT LIMITATION, ANY INDEMNITY PROVISION HEREOF) FOR PUNITIVE, EXEMPLARY, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR SPECIAL DAMAGES IN TORT OR CONTRACT AND EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
SUCH RIGHTS, INCLUDING ANY SUCH RIGHTS AT LAW OR EQUITY. FURTHERMORE, NEITHER THE SUPPLIER GROUP NOR THE NESTLÉ WATERS GROUP SHALL BE LIABLE TO THE OTHER PARTY OR THE OTHER PARTY’S INDEMNITEES UNDER ANY PROVISION OF THIS OFFTAKE SUPPLY
AGREEMENT OR THE SECURITY DOCUMENTS FOR LOST PROFITS, LOST BUSINESS OPPORTUNITIES OR BUSINESS INTERRUPTION. THE PRECEDING SENTENCES SHALL NOT BE CONSTRUED, HOWEVER, AS LIMITING THE OBLIGATION OF EITHER THE SUPPLIER GROUP OR THE NESTLÉ WATERS
GROUP TO INDEMNIFY THE OTHER PARTY OR THE OTHER PARTY’S INDEMNITEES AGAINST CLAIMS ASSERTED BY THIRD PARTIES, INCLUDING, BUT NOT LIMITED TO, THIRD PARTY CLAIMS FOR PUNITIVE, EXEMPLARY, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR SPECIAL DAMAGES, OR
FOR LOST PROFITS, LOST BUSINESS OPPORTUNITIES OR BUSINESS INTERRUPTION.  

  

	23.4	 Subject to Article 23.3, the Supplier shall remain fully liable vis-à-vis Nestlé Waters and the Nestlé Waters Affiliates for any breach of this Offtake Supply Agreement and the Security Documents by any of its subcontractors and/or partners, including
but not limited to the Associated PET Supply Chain, the Associated PEF Supply Chain and Third Party Manufacturers involved and for any resulting damages. 

  

	23.5	 The Supplier shall (or shall cause the relevant Supplier Affiliates to) take out and maintain,
throughout the term of the Offtake Supply Agreement and the Security Documents [***] to cover any and all liability arising from the Supplier’s and/or the Supplier Affiliates’ acts or omissions in connection with the Offtake Supply
Agreement and the Security Documents (including for the third parties as set forth in Article 23.1), [***] including public and product liability, covering damages of any kind or injury to persons, tangible and
non-tangible assets and recall costs. The Supplier shall (or shall cause the relevant Supplier Affiliate to) on request provide Nestlé Waters with copies of its insurance certificate(s). This obligation
shall stay in force throughout the term of this Offtake Supply Agreement and the Security Documents for [***] from the end of this Offtake Supply Agreement and the Security Documents, whatever the reason. 

 

	23.6	 At any time, [***] the Supplier or the relevant Supplier Affiliate must [***]. Notwithstanding anything
contrary set forth herein, under no circumstances shall any member of the Nestlé Waters Group have any recourse against any Representative of the Supplier Group arising from or related to this Offtake Supply Agreement or the Security
Documents. Further, notwithstanding anything to the contrary in this Offtake Supply Agreement and the Security Documents, the Supplier Group’s aggregate liability arising out of or related to this Offtake Supply Agreement and the Security
Documents shall not exceed the greater of (x) the total amount paid to the Nestlé Waters Group pursuant to this Offtake Supply Agreement and the Security Documents for the [***] immediately preceding the date of the applicable breach or
(y) [***] 

  
 Page 49 

	24.	 LIQUIDATED DAMAGES CLAUSE 

Subject to Force Majeure events, in the event the Supplier or the Supplier Affiliates are not able to meet the Penalty Dates, the Supplier
shall pay to Nestlé Waters, as liquidated damages and not as a penalty, [***] of the monthly pro rata budgeted value of the contract volumes of Bio-PET (i) from the Pioneer Plant with respect to
Pioneer Plant Penalty Dates, or (ii) from the New Plant with respect to New Plant Penalty Dates (collectively, Liquidated Damages). The Parties agree that it would be difficult to determine the actual damages suffered by Nestlé
Waters or the Nestlé Waters Affiliates upon the failure of the Supplier or the Supplier Affiliates to meet the Penalty Dates and that the foregoing Liquidated Damages are a reasonable approximation of the damages that would be likely to
result. If the Liquidated Damages are required to be paid pursuant to this Article 24, Nestlé Waters’s right to receive the Liquidated Damages shall be the sole and exclusive remedy (whether at law or in equity, in contract, in
tort, specific performance or otherwise, all of the foregoing are expressly waived) of Nestlé Waters and the Nestlé Waters Affiliates against the Supplier or any other member of the Supplier Group, and upon payment of the Liquidated
Damages, none of the members of the Supplier Group shall have any further liability or obligation relating to or arising out of the failure to meet the Penalty Dates under this Offtake Supply Agreement or the transactions contemplated by this
Offtake Supply Agreement or the Security Documents. 
  

	25.	 SERVICE LEVEL 

 

	25.1	 The Parties agree to carry out, on a regular basis, a global review of the performance of this Offtake
Supply Agreement, taking into consideration its qualitative and quantitative aspects. 

  

	25.2	 Performance rates will be determined and monitored by each Nestlé Waters Affiliate, based in
particular on the quantities mentioned in the Orders and communicated to the Supplier. 

  

	25.3	 Without prejudice to any other damages, rights or remedies to which Nestlé Waters may be
entitled, if the quarterly performance rate is [***] or more under the target, Nestlé Waters may require a commitment and action plan from the Supplier within [***] 

 

	26.	 ACTIVITY REPORT 

 

	26.1	 The Supplier undertakes to provide Nestlé Waters with an activity report including:

  
 Page 50 

	 	(i)	 volumes and turnover of the Raw Materials and Products manufactured and supplied and/or made available to
Nestlé Waters and each Nestlé Waters Affiliate on a monthly basis; 

  

	 	(ii)	 the performance rate, service level and a quality assessment for the Supplier and each Supplier Affiliate,
before the end of each quarter. 

  

	26.2	 The Supplier shall make available to Nestlé Waters any reasonably required relevant documentation
relating to the performance of this Offtake Supply Agreement, during its term and for a period of [***] after its expiration of termination. 

  

	27.	 CHANGE OF CONTROL 

In the event that (i) there is a Change of Control that constitutes a Material Adverse Change with respect to Supplier or Nestlé
Waters (unless the assignee agrees and has, in the reasonable opinion of Nestlé Waters, the capability to be bound to this Agreement), or (ii) the participation of the new entity controlling the Supplier contravenes Applicable Laws (in
particular, antitrust regulations), the assignment will be void. To the extent permitted by Applicable Law, the assigning party agrees to provide [***] prior written notice to the other party if the assigning party intends to make any such
assignment. If a [***] notice period is not permitted by law, regulation or contract but a shorter notice period is permitted, the assigning party agrees to give the maximum notice permitted by Applicable Law. Notwithstanding the foregoing,
Nestlé Waters shall be entitled to terminate this Offtake Supply Agreement with [***] prior notice if a Designated Party directly shall acquire any equity interest in the Supplier or any Supplier Affiliate. 

 

	28.	 COMPLIANCE WITH APPLICABLE LAWS 

In performing its obligations under this Offtake Supply Agreement, the Supplier shall comply at all times with all Applicable Laws. 

 

	29.	 COMPLIANCE WITH SUSTAINABILITY PRINCIPLES 

 

	29.1	 The Supplier shall (or shall cause the relevant Supplier Affiliate to) respect and comply with the
“Sustainability Principles” set forth in Appendix 13 which include: 

  

	 	(i)	 the Nestlé Corporate Business Principles; and 

 

	 	(ii)	 the Nestlé Supplier Code and its Appendix. 

 

	29.2	 To this end, the Supplier represents that the principles set out in the Nestlé Corporate Business
Principles document and the Nestlé Supplier Code and its Appendix documents are already in place in its own organization and undertakes to, and shall ensure that its employees, agents, suppliers (including but not limited to the suppliers
responsible for supplying the Feedstocks) and sub-contractors respect the said principles, throughout all stages of production, during the commercial relationship. 

 

	29.3	 To let the Supplier better follow up the implementation of the Sustainability Principles within its
organization and to let Nestlé Waters have updated relevant information about this implementation, the Supplier shall (or shall cause the relevant Supplier Affiliate to) register all of its production sites supplying to Nestlé Waters
on a specialized internet platform recommended by Nestlé Waters. 

  
 Page 51 

	29.4	 If any commitment under this Article 29 is found to be breached, the Parties shall meet at
Nestlé Waters’s request and discuss the reasons leading to the breach. The Parties shall then envisage and set up corrective actions with an appropriate time schedule to cure the breach of the commitment. 

 

	29.5	 If the corrective actions are not implemented to Nestlé Waters’s satisfaction in accordance
with the agreed time schedule or if the breach by the Supplier of any of the Sustainability Principles recurs, Nestlé Waters shall be entitled to cancel the Orders in force and/or to terminate this Offtake Supply Agreement for breach in
accordance with Article 20.2. 

  

	29.6	 The Supplier acknowledges that it is aware of the Nestlé Supplier Code (the Code) and
agrees to disclose to Nestlé Waters any breach of the Code by the Supplier or any Supplier Affiliate, promptly after having knowledge thereof. To this end, the Supplier shall either inform its usual Nestlé Waters contact directly or
any Nestlé Waters person in the relevant Nestlé Waters organization; or use Nestlé Waters’s confidential dedicated Internet site (at [***]). 

 

	29.7	 The Supplier shall (or shall cause the relevant Supplier Affiliate to), according to the provisions set
forth in Appendix 5, register on Sedex, which is a platform relating to the performance of the Supplier on the main sustainability issues. 

  

	29.8	 The Supplier shall cause Supplier Affiliates to comply with this Article 29.

  

	30.	 RESERVED 

  

	31.	 CONFIDENTIALITY – PUBLIC ANNOUNCEMENTS 

 

	31.1	 The Parties have entered into a Confidentiality Agreement, a copy of which is attached as Appendix
15. Subject to the provisions of Article 31.2, nothing in this Offtake Supply Agreement is intended to modify or supersede the provisions of such Confidentiality Agreement and it will remain in full force and effect, in accordance
with its terms, after signature of this Offtake Supply Agreement. 

  

	31.2	 Each Party shall be entitled to make any public statement, communication or press release, provided
however that (i) the Parties shall first discuss the content of such public statement, communication or press release between them and (ii) such public statement, communication or press release shall be limited to the general terms of this
Offtake Supply Agreement without any disclosure, in particular, of its economic terms, subject to Applicable Laws. 

  
 Page 52 

	32.	 NON SOLICITATION 

 

	32.1	 Neither Party shall solicit, recruit, hire or otherwise employ or retain, directly or indirectly
(including through any Affiliate), a person employed by the other Party (or any of its Affiliates) who is or has been involved in the negotiations and/or the performance of this Offtake Supply Agreement, in whole or in part, provided, however, this
Article 32.1 shall not prohibit Nestlé Waters or its Affiliates from soliciting or hiring any person who responds to a general advertisement or solicitation, including but not limited to advertisements or solicitations through
newspapers, trade publications, periodicals, radio or internet database, or efforts by any recruiting or employment agencies, not specifically directed at employees of the Supplier or the Supplier Affiliates. 

 

	32.2	 Each Party acknowledges and agrees that the above undertaking is intended to protect each Party’s
respective trade secrets and goodwill. The above undertaking shall remain valid during the term of this Offtake Supply Agreement and during a period of [***] following its expiry or termination for any reason. 

 

	33.	 USE OF PROCEEDS; PIONEER PLANT OPERATIONS 

 

	33.1	 The Supplier shall use the Funds for the Pioneer Plant Operations. Should the Funds be insufficient for
the Pioneer Plant Operations, the Supplier shall use the Advance Payment Amount as needed and in compliance with the provisions of the Secured Promissory Note. 

 

	33.2	 Nestlé Waters, through any Nestlé Waters Affiliate or its authorized agent, is entitled
to, during regular business hours of the Supplier and the relevant Supplier Affiliates and upon [***] prior notice, access and inspect the Pioneer Plant for purposes of monitoring the Pioneer Plant Operations and shall indemnify the Supplier and the
relevant Supplier Affiliates for any damage or injury caused by such access or inspection. 

  

	33.3	 The Supplier undertakes to (or to cause the relevant Supplier Affiliates to) cooperate fully and in good
faith with Nestlé Waters and such Affiliates or other authorized agents by giving them reasonable access to any relevant information regarding the Pioneer Plant Operations. 

 

	33.4	 The Supplier undertakes to (or to cause the relevant Supplier Affiliates to) provide Nestlé
Waters quarterly updates on the progress of the Pioneer Plant Operations and monthly statements on allocation of the Funds and any Advance Payment Amount used for the Pioneer Plant Operations. 

 

	34.	 INDEPENDENT PARTIES 

Each Party is an independent entity—both legally and financially—bearing the risks and responsibilities of its own operations. This
Offtake Supply Agreement does not consist of, amount to or create an association, a company or a joint-venture (whether de facto or by agreement) between the Parties or a power of attorney from either Party to the other or an agency agreement or an
employment contract. 

  
 Page 53 

	35.	 ASSIGNMENT 

  

	35.1	 The Supplier shall not assign or otherwise transfer, totally or partially, for any reason whatsoever,
its rights and obligations under this Offtake Supply Agreement without Nestlé Waters’s prior written consent which will not be unreasonably withheld, conditioned or delayed. 

 

	35.2	 Nestlé Waters shall not assign or otherwise transfer, totally or partially, for any reason
whatsoever, its rights and obligations under this Offtake Supply Agreement without the Supplier’s prior written consent which will not be unreasonably withheld, conditioned or delayed; provided, however, Nestlé Waters may assign all or
part of its rights and obligations under this Offtake Supply Agreement to any of its Affiliates, without the Supplier’s consent, provided that such assignment does not, subject to the reasonable discretion of the Supplier, materially diminish
the credit supporting Nestlé Waters’s obligations hereunder. In such a case, the assignee shall be fully committed to the obligations transferred by Nestlé Waters and Nestlé Waters will inform the Supplier accordingly.
[***] 

  

	36.	 SUBCONTRACTING 

Subject to the agreements with Third Party Manufacturers, the Associated PET Supply Chain and the Associated PEF Supply Chain, or with respect
to the obligations to be performed by any Supplier Affiliate, in each case, as mentioned in this Offtake Supply Agreement, the Supplier shall not subcontract all or part of its obligations under this Offtake Supply Agreement without Nestlé
Waters’s prior written consent which shall not be unreasonably withheld or delayed. In case of subcontracting, the following shall apply: 
  

	 	(i)	 the Supplier shall remain primarily liable to Nestlé Waters for the performance by its subcontractor of
its obligations under this Offtake Supply Agreement; 

  

	 	(ii)	 the Supplier shall be solely responsible for payment of any sum due by and to its subcontractor; and

  

	 	(iii)	 the Supplier shall be responsible for compliance with all Applicable Laws pertaining to the involvement of such
subcontractor in the performance of this Offtake Supply Agreement. 

  

	37.	 MISCELLANEOUS 

 

	37.1	 Severability 

If any provision of this Offtake Supply Agreement is held under a final court decision to be invalid, illegal or unenforceable in any respect,
such determination shall not impair or affect the validity, legality or enforceability of the remaining provisions hereof. 

  
 Page 54 

	37.2	 Waiver 

Failure by a Party to notify the other Party of a breach of any provision of this Offtake Supply Agreement or to enforce any of its rights
under this Offtake Supply Agreement shall not constitute a waiver of any continuing breach and/or right to enforce any such rights. A waiver by either Party of a breach of any provision of this Offtake Supply Agreement shall not operate as, or be
construed to be, a waiver of any subsequent breach of the same provision or any other provision of this Offtake Supply Agreement. 
  

	37.3	 Notice 

Any notice to be given by any Party to any other Party under this Offtake Supply Agreement shall be in writing and shall be served (i) by
hand delivery against acknowledgement of receipt, (ii) by registered mail with acknowledgements of receipt or (iii) by express courier (Fedex, DHL, etc.) sent to the address mentioned in this Offtake Supply Agreement (or to such other
address as may be notified from time to time by a Party to the others or such address which is published as the registered office of a Party). 

The notices are deemed to be validly served as at (i) the date of the hand delivery against acknowledgement of receipt, (ii) the date
of first presentation of the registered mail or (iii) the date of first presentation of the express courier, 
 If to Nestlé
Waters: 
 Nestlé Waters MT 

Attn. Purchasing Group Manager 

12 boulevard Garibaldi 
 92130 Issy-les-Moulineaux 
 France 

cc. General Counsel 
 If to the
Supplier: 
 Micromidas, Inc. dba Origin Materials 

930 Riverside Parkway, Suite 10 West 

Sacramento, CA 95605 
 Attn: John
Bissell and 
 Attn: Compliance Manager 
  

	37.4	 Entire agreement 

 

	 	37.4.1	 This Offtake Supply Agreement, together with all Appendices hereto, the Confidentiality Agreement, the PET
Alliance Agreement and the Security Documents, constitutes the entire agreement, understanding, representations and warranties of the Parties hereto with respect to the subject matter hereof, provided that this Article 37.4 shall not exclude
any liability for fraudulent 

  
 Page 55 

	 	misrepresentation. This Offtake Supply Agreement replaces and supersedes any prior contract, agreement or negotiation, whether oral or written, related with the same matter and between the same Parties. In the event of
conflict or discrepancy between a provision in the Offtake Supply Agreement and a provision in the PET Alliance Agreement, the provisions in the Offtake Supply Agreement shall take precedence and govern. 

 

	 	37.4.2	 In the event of conflict or discrepancy between a definition in Article 1.1 and a definition elsewhere in this
Offtake Supply Agreement or an Appendix, the definition in Article 1.1 shall take precedence and govern. 

  

	 	37.4.3	 In case of discrepancies between the terms of an Order and the terms of the articles of this Offtake Supply
Agreement or its Appendices, the terms of the articles of this Offtake Supply Agreement or its Appendices, as applicable, shall prevail. 

  

	37.5	 Amendments 

Any modification or amendment to this Offtake Supply Agreement must be made in writing and shall be signed by both Parties’ duly
authorized Representatives. 
  

	37.6	 Costs and expenses 

All costs and expenses incurred by any Party in relation to the negotiation, execution or performance of this Offtake Supply Agreement shall be
exclusively borne by such Party and shall not be reimbursed by the other Party except as otherwise expressly provided in this Offtake Supply Agreement. 
  

	37.7	 Counterparts 

This Offtake Supply Agreement may be executed in any number of counterparts each of which when executed by one or more of the Parties hereto
shall constitute an original but all of which shall constitute one and the same instrument. 
  

	37.8	 Applicable Law – Jurisdiction 

This Offtake Supply Agreement is governed by the Laws of the State of New York without regard to principles of conflicts of laws. 

Any dispute between the Parties arising out of, or in connection with, this Offtake Supply Agreement shall be first submitted to the respective
senior executive(s) of each Party for attempted amicable resolution. 
 In the absence of an amicable resolution within thirty (30) days
following submission to the Parties’ senior executives for amicable resolution in accordance with the immediately above paragraph, any dispute between the Parties arising out of, or in connection with, this Offtake Supply Agreement shall be
subject to litigation to be brought exclusively in the courts located in the State of New York. Each Party shall and hereby does submit to the non-exclusive jurisdiction of the courts of the State of 

  
 Page 56 

 New York and the Federal Courts of the United States of America located in New York. The
Supplier hereby irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding and any right of jurisdiction in such action or proceeding on account of its
domicile. The Supplier hereby irrevocably waives any rights it may have to a trial by jury in respect of any litigation based upon, or arising out of, this Offtake Supply Agreement, or any course of conduct, course of dealing, statement or actions
of any Party hereto. The Supplier hereby irrevocably waives any rights it may have to immunity from service of process or jurisdiction to any court hereunder, including without limitation any immunity, sovereign immunity or other similar defense.

  

	37.9	 Amendment and Restatement. 

This Offtake Supply Agreement amends and restates in its entirety the Original Offtake Agreement; provided, that, for all matters arising prior
to the date hereof, the terms of the Original Offtake Agreement (as unmodified by this Offtake Supply Agreement) shall control and are hereby ratified and confirmed, in each case subject to Articles 37.10 through 37.12. 

 

	37.10	 Termination of Certain Security Documents and Liens. 

 

	 	37.10.1	 The Parties hereby agree that, as of the Effective Date, (a) each of the Terminated Security Documents is
hereby automatically terminated and (b) the security interests and liens granted pursuant to the Original Security Agreements are hereby automatically terminated and released without any further action by the Supplier, Micromidas Pioneer or
Nestlé Waters. 

  

	 	37.10.2	 Nestlé Waters (on behalf of itself and each Nestlé Waters Affiliate) hereby (a) authorizes
the Supplier and Micromidas Pioneer to terminate all UCC financing statements filed naming the Supplier or Micromidas Pioneer as debtor and Danone as secured party, (b) agrees to promptly deliver to the Supplier (i) that certain Assignment
of Limited Liability Company Interest endorsed by the Supplier in blank and that certain Irrevocable Proxy executed by the Supplier, in each case delivered to Nestlé Waters in connection with the Original Pledge Agreement and (ii) all
other possessory collateral in Nestlé Waters’s or any Nestlé Waters Affiliate’s possession which evidences, perfects or otherwise relates to the security interests and liens granted pursuant to the Terminated Security
Documents, (c) agrees to promptly execute all reasonable and customary lien releases to release of record all security interests and liens granted pursuant to the Terminated Security Documents and (d) further agrees that, at any time and
from time to time hereafter, it will (and will cause any relevant Nestlé Waters Affiliate to) promptly execute and deliver such other lien releases, discharges of security interests, pledges and guarantees, termination statements or other
agreements and instruments to the Supplier or Micromidas Pioneer (or any designee thereof) in form and substance reasonably satisfactory to the Supplier and Micromidas Pioneer, and take such other actions as such Person may reasonably request to
further evidence, effect or reflect on public record or otherwise the release of the security interests, pledges, liens and other encumbrances granted pursuant to the Terminated Security Agreements. 

  
 Page 57 

	37.11	 Release and Waiver. 

 

	 	37.11.1	 Notwithstanding anything to the contrary in this Offtake Supply Agreement, the Security Documents, the Original
Offtake Agreement, the Original Secured Promissory Note, the Terminated Security Documents or any other agreement, document or instrument relating hereto or thereto, or executed in connection herewith or therewith, Nestlé Waters (on behalf of
itself and each Nestlé Waters Affiliate) hereby (a) agrees that, upon execution of this Offtake Supply Agreement, (i) all obligations of Micromidas Pioneer under the Original Offtake Agreement, the Original Secured Promissory Note
and the Terminated Security Documents shall be satisfied in full and terminated; (ii) Micromidas Pioneer shall have no further obligations or liabilities of whatever nature under or in connection with this Offtake Supply Agreement, the Security
Documents, the Original Offtake Agreement, the Original Secured Promissory Note, the Terminated Security Documents or any other agreement, document or instrument relating hereto or thereto, or executed in connection herewith or therewith;
(iii) all obligations of the Supplier under the Original Pledge Agreement shall be satisfied in full and terminated and (b) unconditionally and forever releases, waives and discharges (x) the Supplier from any and all claims, demands,
liabilities, rights of setoff and causes of action of any nature whatsoever, arising under or in connection with the Original Pledge Agreement and (y) Micromidas Pioneer from any and all claims, demands, liabilities, rights of setoff and causes
of action of any nature whatsoever, arising under or in connection with this Offtake Supply Agreement, the Security Documents, the Original Offtake Agreement, the Original Secured Promissory Note, the Terminated Security Documents or any other
agreement, document or instrument relating hereto or thereto, or executed in connection herewith or therewith. 

  

	 	37.11.2  	 Nestlé Waters (on behalf of itself and each Nestlé Waters Affiliate) hereby [***]

  
 Page 58 

	37.12	 Joint and several obligations. 

The obligations of the Supplier and Supplier Affiliates are all joint and several in the same way that they are under the Secured Promissory
Note. 
 [Remainder of this page intentionally blank] 
  

  
 Page 59 

 IN WITNESS WHEREOF, this Amended and Restated Offtake Supply Agreement has been executed and
delivered as of the date first written above. 
  

					
	Nestlé Waters Management & Technology.
		
	By:	 	 /s/ Matthew Weber

		 	Name:	 	Matthew Weber
		 	Title:	 	CFO
	
	Micromidas, Inc. dba Origin Materials
		
	By:	 	 /s/ John Bissell

		 	Name:	 	John Bissell
		 	Title:	 	CEO

 [Signature Page to Amended and Restated Offtake Supply Agreement] 

 Appendix 4 

Timelines 
  

							
	 MILESTONE
	  	 [***]
	  	 PENALTY DATE
	  	 LONG STOP DATE

				
	Commercial Operation Date Pioneer Plant	  	 31 August 2020
  

(Expected Commercial Operation Date Pioneer Plant)
	  	 31 December 2020
  

(Pioneer Plant Penalty Date)
	  	 31 December 2021 (Pioneer Plant Long Stop Date)

 

				
	First delivery* of Bio- PET to Nestlé Waters incorporating Bio-pX from Pioneer Plant	  	31 March 2021	  	 30 September 2021
  

(Pioneer Plant Bio-PET Penalty Date)
	  	 30 September 2022
  

(Pioneer Plant Bio-PET Long Stop Date)

				
	[***]	  	[***]	  	[***]	  	[***]
				
	[***]	  	[***]	  	[***]	  	[***]

 Appendix 5—Sedex Platform 

Responsible Sourcing Audit program at Nestlé 

As a current supplier to Nestlé Waters, your company is being requested to participate in the Responsible Sourcing initiative which requests you to
demonstrate compliance with the Nestlé Supplier Code requirements (as a reminder, please find our Nestlé Supplier Code here). 

The Nestlé Supplier Code (“the Code”) defines the non-negotiable minimum standards that we ask our
suppliers and their sub-tier suppliers (“the Supplier”), to respect and to adhere to when conducting business with Nestlé. 

To do this, you should have a 3rd party ethical audit conducted, of each of your production sites
supplying Nestlé, showing the current status of your ethical practices and areas for further improvement. 
  

	 	•	 	 we request you to take the following steps : 

 

									
	1	  	 Register on Sedex platform

www.sedexglobal.com
	  	Registration Instruction here	  	 •  Cost: £38 per supplying sites

 
 •  Duration: Less than 30
min
	  	Recommended (to store and share audit results)
					
	2	  	Link with Nestlé through the Sedex platform	  	Nestlé Sedex number is S114420467607	  	 •  Cost: Free

 
 •  Duration: Immediate
	  	Recommended (will enable Nestlé to see your data)
					
	3	  	Complete the Sedex Online Self Assessment Questionnaire	  		  	 •  Cost: Free

 
 •  Duration: this takes up to 1
full working day to complete. This greatly helps to prepare the audit.
	  	 Optional
 (will enable you to prepare
yourself for the audit)

					
	4	  	 Contact auditors, select auditor and host a

SMETA 4 Pillars Audit
	  	 Approved auditors are:
  

•  SGS
  

•  Intertek
  

•  BVQI
	  	 •  Cost: vary on the number of employees on site: from USD600 to USD5’500

 
 •  Duration: According to above,
from 1 1/2 days to 4 1/2 days
  

•  The cost is beard by you because it is valid for all other members of www.aim-progress.com
	  	Compulsory

 We count on your full collaboration and we are sure that you will continue to demonstrate your willingness to make it
successful. 
 Note: List of accepted third party ethical accreditations demonstrating compliance without further work (need to have been made less than 3
years ago, and are to be provided to Nestlé for review): 
  

	 	•	 	 SMETA 4 pillars audit, 

	 	•	 	 Combination of ISO14001 + SA8000 + OSHAS18001 certifications, 

If only part of certifications are in place they will only shorten the audit (please discuss with audit companies) 

 

	 	•	 	 4C License to Operate 

  

	 	•	 	 Rainforest or UTZ Certifications 

 

	 	•	 	 Ethical audit from AIM-PROGRESS members (list on www.aim-progress.com), including The Coca Cola Company Supplier Guiding Principles or Workplace Rights policy audits 

 Appendix 8 

Supplier Affiliates 
 Origin
Materials Canada Pioneer Limited 
 Origin Materials Canada Holding Limited 

 Appendix 9 

[Reserved] 

 Appendix 13 

Nestlé Corporate Business Principles and Nestlé Supplier Code 

 

 
 Pol loy M•ncl..tory July 2014 Good Food, Good Life Po Appendix to The Nestle Supplier Code Nestle Commitment on the Responsible Use
of Materials from Agricultural Origin The following mandatory requirements This Commitment comprises three sections: complement the Nestle Supplier Code and are 1. The General Principles driving the overall applicable to anatag• of the upatreem
value concept “remOte the w orat. prom ote the best c hain btck to the primary produc tion lewl. improve the reat” The aim of the Commitment is to guide 2. The General Requirements apply ing to all NestiG’s suppliers to improve their
practices in materials of agriculturaL forestry, fishery and the implement81ion of international atandardt and aquaculture origin N.. tl6 own pollclet and commitment• relating to 3. The liltof key cotegorlee h!JVIng edditlonnol responsible
sourcing: material specific requirements. Nestle SupplierCode Neet16 Policy on Environmental Suatainability • N• tl6 Commitment on Climate Chango Neetl6 Commitment on Deforestation and Forest Stewardship Nestle Commitment on Child Labourin
Agricultural Supply Cht lnt Nestl6 Commitment on Rural OEJVelopment Nestle Commitment on Farm Animal Welfare Nestle Commitment on WSiter Stewardship • The International Bill of Human Rlghtt The8 ILO Core Convention• United Nations Global
Compact Principles Nestle Commitment on Land and Land Rights inAgric ultural Supply Chaina. ~~estlft Commitment on the Respont ible Ut e crt Moteriolt lromAgriGulturol Origin 249137817 v2 

 

 
 General Principles a} Continuous imprcwement c) Supplier accountability and supplier NesU6 tS committed to continuously incrcmsing
aupport tho t h&rool raw end pllck8glng m6torialtourcod NotllbCIMpocll ill IUpplifM’I IO IIJkoOWnorahip 111 compbanccwith these requirements. A ll and leadership in dcveJopmg and impJemenllng Nestle suppliers are expected to engage in a
continuous impi’O’Y’OO’lent measures agains1al process ofcontinuous improvement and 10 verify aspects of those roql,jremoots. As appropriata. thoir procouosand praolicos -ooin.at thoaa Nosllltwlll provtdo suppon to
suppliorsthotaro IOQUII’Om OOLI . not yet able to comply but aro committed to becom10g compliant over time and demonsllate b) TransparenOf along the value chain continuous and tangible progress. N01!16 ocpocllttl supphon to conduct their
busino11 wilh NosU6 in an opon and uonapt)lont d) Credible verific1tion way. which includes prOVtding Lransparenc.y In itsextendedvaluechcuns. Nestle ex.pects its o f ma terial flows th roughout the entire upstream suppliers to continuousJy monitor
and verify value chain providing <Nidonco of product lhoir performance and continuous 1mprovomont klonllry 11nd thot no aduhorodon hn heppoood. DQIII’IIl thOIO roquiromontt. In thO CAM ot ~h w i th the cwerall objeciNe to ensu re the supply
susLamability nsks. Nestle reserves the right of responsibly ptoduced product s. Suppliers to verify such monitoring and performance by provide accurate informalion on alaspoets independent assessments or CCftification. 00\‘Cfod by thaso
roquiromonta. General Requirements 1. l egal compl.iance c. Freedom of eaiOCiation end collective Suppliers, comply with all applicable law’s and bargaining is respected. unless prevented regulalions . .. ..... I. Tho rlghll of wortcors to
froodom of aatoelrnlon 2. Human righta and labour pra<:ticea a s and collcct•w bargclining are respoole<i stated in the Nestle S upplier Code consistent w ith applicable ILO Conventions 87 a. No use of forced or child labour. and 98 and
those identified by the United 1. Thofo it no usoot forced or oompuiiOfY labour NatJOnl UnNor1al Ood&ration of Humon Rigl\11 aa por ILO Convontiona 29ond 105. il. There is no use ol child labour. Child labour d. Provision of safe and heetttry
workplace. refers to W’Otk that is mentally, physically, i. Workers are provided with a safe and soolally. moralt.{ dangerous or harmful to hcalthyworkploco. includi”’). as applicabla. childron Of that improporly mtorfmoswilh 11110
hou1lng condition•. At • min~mum. a.c:hoollng needs as pel NesLI6 Supplier Code pola ble drinking wator. ad oqua te sani Laltol\ and ILO Conventions 138 anc:l 182. emergenc.y exits. essential safety equipment and access to emergency
modical care are b. Worktrt’ pay and oondrtlon• mHt et ....t p<O\hdad. legal or mandatory 1nduatry etanderde. i. W01kers’ pay and benefits comply w ith minim~Xn legal requirements or mandatory industry standard&.II\Ciudino ony
opplicoblo bind•ng oolloctMI agroomonta. it Wollang conditions comply w ith applicable laws and industry norms. including W’Otking hours. housing fwhcroapplicablcL wator and tal”‘lltatlon. tpoc:tflc gondOf·rolatod nooda.
mediCal and welfare ptCNiw n. lho t~“5upplo;r” ~s11ll $...,_. 511pplo;rs bllct.to lt.c. pt.-nt~l)’ productiOn 70111g0. 2 

 

 
 e. No diacrimination on the basis of gendet b. Use of chemicals is consistent: with best race, ethnicity~ age otreligion . agricl.ftwal
practices. i. t-iring and employment practices do i. Growtn oomptywith bess pracrices relaling to notdiscriminate on theground d criteria such use of che.l’Ticals. as race. coloct rerigion. sec. age.
physical i. Pest and disease management is based ability. maternity. religion. ethnic:ity. ph’f’sical orintegrated Pest Managemen1 programs that conditions or poitical viewsas per ILO reduce the need tor agrochemicals and prowije
CorM!ruion 11 \. appropriate safeguards for workers and hig.h conservationvalue areasw hen agrochemtcals 3. Conven.ion of nata.ralvegetation are applied. a. No sourcing from ..-eas converted from naturals
lorest51 after 1 February 2013’. c. Soil management is consistent with best i. Product’s are sourced from land that has not agricl.ftwal practiae:a. been C«J\\‘erted from nat!Sal focest to other i. Growtn oomptywith bess
pracrices relaling to tanduse. soil management taking into consideration soil struaure and fertility. and soil erosion. b. lden1ffication and protection of High i. FertiiseiS areappied in response to Conservation Values OiCVsf. appropriate soil
testing and in ways that i. Product’s are sourced in a manner that minimize run~ffof nutrients and emissions of main~sor enhances highoon:servation GHG. values in the surrollding landscape. ii. Soil carbon levels are maintained and i . High
carbon stocb~dt.dngaboveground measures taken to enhance them where these carbon values and soils that pi’O’IIide important benefit soil health and crop grOW’th. carbon and water storage functions] are iv. Agroc:hemical use is
mirWnised todelifer upon indudedasa high oonse.rvation value and good soil conservation practices. wt*tbeing Nestle wil dENIE!Iopappro~e aiteria. consistent with the need to coruol irwasive i i. Suppliers win pay particular attention to high
speciesand pests. conservationvalues needed to preseNewatec suwardship. ivelihoods. and species mat d. Suppliera identify and tecluce their require large contiguous habitats. significant environmental impacts in a iv. Suppliers win not source
products from IUCN process of continuous improvement. which JX’(Itecled areas categories J-I’V. UNESCO includes,. as applicable.. the folowing aspects: World Heritage Sites and ~tlandson the i. Waste
is prevented. reused,. recyoled Ramsar li-st. recovered and/or cisposed of in an v. HCV areas h«e management plans that enSlSe environmen&alty sustainableway the maintenance and/or enhancement d
these i. BioC~YeJsity is maW1tained and/cw enhanced ii. areas..-d ~ileconnectivity of natural Greenhouse gas efT’Iissionsare reduced hatitats within the landscape. iv. Air emissions from processing plants
are reduced 4. Environmental impacts v. Energy is used efficiently a.lmpacts on water are mitigated by implementation of water management plans. and additional measwes in watet-stressed areas. i. Water wi1hdrcwal from the environment is mirimQ:ed
and watec polution is prevented. i . Suppliers hao.re carried out .-npac:t assessments that indudewater resource assessments. and are implementing management pr.ans that indudewater management. Water management takes into account the h~MNn right to
water as wei as enrironmental flows and waterquaity. i i. Suppliers inwater-suessed areas undertake adtitional measureswith the objective of I Soo •t.Jrx;orstzlrding r-tc:or
-r.nodDIII~·. minga’ion impacts d water conSUT~p6on. 2 liorbOJI-olf~ my4ppirIO.$pook ITWI..... Soo 1hoA!JI’JOC~brnt~t4Z:al I s ·nil!.~ 3
lhii...:V ~N«worl.pnxnolll.$• ~ glob!t ~ml ordlll:~nouhl~h10 J.I:V:- .hoDOC” cri; org ~1M!: HC\Ilr; Ciel’l nclude llllllnf VQ911~othar thzsn lon:rst ~llucb es: hoghif ~~,._PW’too*r41l”’*XXI$ F*2 110 “-ifl CIOM!IONIIPXIII~ ~10proloct Nill~ ~ ~~nc~ ....... ~d’lipilr~. 3 

 

 
 5. Foodwaste and Post·Harvest Losses Food b. Small ecale produceracoau to Nestloi’a waste and post-harvest losses are
minimized. suppty chains is not disadvantaged through i. GroNers and processor:s adopt appropriate application of responsible sourcing guideine. tecf’lnolo11f and sys:ems to reduce post· i. Small scale producers do not face undue halves!
losses and food wa:s:’.e. or disproponionr.e obstac:Jes tobeoomr,g ii. Suppfiersand farmers shcn.Ad gather evidence a Nestle suppliec as a result of lhe to inbm h.’1Ure _..terventions w ith the intercion implementation of these
requirements. to focus auention in reducing: post.flarvest losses and other food w astealong the value 8. Animal wetfare chain. Animal welfare practices along theupstream iii.Where post-.tlarvest losses doocOJt. efforts val.Ie chain are guided by
the General Principles are made to reduce losses lOan aca;!ptable f01 the Welfare ofAnimals in livestock Production minimum. Slfstems date-Japed by the World Organisation f01 Animal Welfare(OIEP. to beimplemented in a 6. land use right s process of
continUOJ’S improvemerc.. A science· a. Suppliers can demonstrate legal based approach is appied to defining criteria and entitlement to land ownership or other indicators 10evaluating farm animal welfare oo pertinent land use rights.
the basis oi the “Fwe Freedoms”: i. land rights. includrlg legal title and customary 1. Freedom from t’ulget thirst and malnutrition. land. of local communities are respected. 2. Freedom from fear and distress. ii. l.eg:JI vserights
to the land are clearly defined 3. Freedom from pt’r(sical and thermal and demonstrable le..g. doOJITiented through discomlort. an o.vnerstjpagreement rental agreement 4. Freedom from pcin. injury and Gisease. cOt.rt ordet etc.). 5. Freedom
toec:press n01mal patterns of behaviour offarmed animals. b. Agricultural and forestry devetopments and activities on local peopes· Land are aubject Material Specific Requirements to the free. prior and informed con&ent of
~~fW’!I“lifir r,......,..,.ml’lln!<> “’‘ei’U fnr the affected local communities. including 12 categories: indigenous peoples’. 1. PalmOil i. Producers main tain com ml.rication 2. Paper 8 Board channels
with local com rrunities and 3. Sugar traCJtional tarxJ users and there is a dearly 4 . Soya established mechcrism for raising and 5. Coooa resolving grievances.. 6. Coffee 7. Dai<y 1. Creation of shared va.lue f«society a.nd a. Fish a
Seafood local communities and Rural Development 9. MeaL Poultry & 6ggs a. Fanning. forestry~ fishing and aquaculture 10.Varilla activities __..._ contribute .._ to sustainable rural 11. HalelrL’lS 12. Shea i. There are demonstrable
rural development benefits accrUng to local communitiesas a and are detailed in Nestle operational policies consequence of the produccion act:Mties. applied in procurement. These are availableoo ii. Fft oppcrtunities lor em~ntand
www.nesrle.com/suppliers prOtfision ri goods and servi::es are provided to the local popula:ion. FOrg...-.:.a-=PSCG~h:wlbo~• n d m.c.,. pnoc, donn:doon5ontC2012’tW.V~:
Ff-oe.p-ot dOTJ’IIId CIXISQI’It ~..d~C2QI I t: btlp1/4$.$111b..W~O.org. 2 Arbc:ICI7.1.3. cd lho ~f’IIIIAnmol..._.. Code,. Wcrld
Orglln~~W~t~CJnoiAtwrei.Wolhln::I0£1. • 

 

 
 ......... —.....2010 Good Food. Good L•fe The Nestle Corporate Business Principles 

 

 
 P1iit i;’ ............. AU’d\or/ iaauing department J-2010 ChaWman arx:l Chief
Executive Officer T.-get -..clienc:e AI emplo{ees Pr Related Group Principles/ Policiee. Standards M Guidelines Code o f BuW.ess Conduct. The Nestle Management and lead~hipP rr.ciples Repository AI Nest.Je
Principles and Policies. Standards and Guidelines can be found in the Center online repository a t hrtp:/rmtranet.nesde.com/nestledocs. Date ofpublication June 2010 Copyright and confidentialiry The content of ilis doo.rment may not be reproduced
without proper authorisation. AI rights belong to Nes1ec: Ltd~ 1800Vevty, SwitzertancL 0 2010. Nes:ec Ltd. In caseof doubt or differences of interpretation. the English version shall p revail ·Tb!$—R!p01’11$ ptll’ltllldon
1!1/S. • P“pot proclucod tromwdi“1T’‘Il!!Nlgcd loro:su wd cc.hor CIOI’IItdk;od soue:os. ClOI’1JiiOd by!flo f:OtOSt ~tdsl’llpCouncii iFSCI. ~cllml!!!l — 

 

 
 Table of contents 3 Commitment of the Chainnan an d the Chief Executive Officer 5 The foundation f«sustainability and Creating
Shared Value 6 The ten principles ofbusiness operations Consumers 1 Nutritioo. Health and Wellness 2 Ouai ry assurance and product safety 3 Consumer oommunica:ion Human rights and tabor practices 4 Human rights in our business activities Our people
5 leadership and personal respoosbility 6 Safery and health atwork Supplier’S and customers 1 Supplierand customer relations 8 Agri::ulture and rural dateiopmenl 1he environment 9 EI’!‘Wonmental sustainabiliry 10 Water 8 Detailed
descriptions and links to corporate policies 8 Consumers 9 Human rights and tabor practices 10 Our people 11 Suppliers and rustorntYs 12 1he environment 13 Auditing 

 

 
 Nestle principles and policies map Consumers Human rights Our people and labor practices 1 2 3 4 5 Nutrition. Quality ass...-ance
Consumer Human rights Leadership Health and and product convnunica:tion in our business and personal Wellness safelY activities responsibility ~dri~- Nas’tli Cbllliry A:llicy Hllrsdi ,.,_ ConSilmor UN Global Comp«::r
~-’·~mllltl onNut!‘diiOri,.Hallh ~ndLlliCKfi:;r.lhlp tift:! w ~bel$$ “””””””””””” Nastli NuttliiOn LO eo-~IOI’U S1.
-·· (k.ftliry Policy OS. 1&:2”’ Ho=ldOPdic:y .....eo.. onN~n.,rd of e:u- Conrt.K:I Ho111-. Clls..-ns “” d !bllo
“””””””” Ai9bts d lbaO.ild: Ando32” Hllrsdi~~ — “””-~Poky “”””””””””” OC:CD GuicWinos DU~nel Ho=ldONu!~ ...... ,....2000”
“””’’”” LO Dllcll!ndlon ,_,., \‘MO kiiOmllllicnal ~....., . Coc» o f M11rl:o11ng d ...... ,.,...2()()f;”
BrG!Isa·m&Sub5.1•r-..nos- Ho=ldOPmrqPbhey 

 

 
 Suppliers and customers The environment 6 7 8 9 10 Safety and Supplier Agriculture Environmental Water health atwork a.nd customer and
rural sustainability relations development l’btlci p-olity Nlls-110 Supple>r CodQ Ho;.:sdli Ptllic.y Nll51lil Policy NGe~dli!Polity onS11fot( ond on
Efflfironmon!ld CWIEIW’Wonfi’O’II~ on &.voronm~~nlld l-blth 111 Work Sus!lll!l:lbity Su:u,.....,illtf Sustoollllblity NG!!di!CoiTII’IWt~nb on\VutGt 

 

 

 

 
 Commitment of the Chairman and the Chief Executive Officer The Nestle Corporate Business Principles are We believe in the importance of
a strong ill the basis of our company’s culture, which complianoeCtJiture that is fulty embedded in hal dovoklped ovor tho spenol140yoors Sinco our buamou. Tho Corporoto Businosa Pnnclpkn Honri Noatllt hrll dcvolopod his succoulul and tho
supporting documonll ralloct It.’s 111fant cereal “Fanne lach~e~. we have built our commitment and thus protect the trust oJ our business on the fundamental principle that to consumers and other stakeholders in the Nestle haw long+tMm
success tor our sharohotdon. brand. Our intornal rules not onty require stria wonot only hlrvo to comptywhh aJi oppllcobSt complianctwllh the IIIVi thl¥ guldo our ~tCiiOnl logal reqUII’omcnLs and oosure that all our cvon rl the law is more
l(!lll(lont or w hero there iJ activities are svstainable. but additionally we have no applicable lawat all. Fos Nestle. upholding to create significant value for society. At Nestle compliance goes bEyond kooping checklists. wocall this Crooting
Shared Vnlue. It requirct lloodlast pnnciptos !hot Bpply across Although our Nost16 Corporoto eu..noll thowholoCompany. pr01idtng door guidonco Pri.naples were first published as an mtegrated to our people. document in 1998, most had already been As
the Olairman and the Chief Executive estBblishod in indMdual la m many years Officer of NestiO. we are commincd to making boforo Whllo tho Bulinon Princlplosaro firmly suro lhllt our on tiro Compony It manogod est&bhshod. they also continuo to
evolve and according to these prindpteJ and require adapt to a chan{jngWOIId. Fos instance.. Nestle adherence to them from all our emplqrees incorporated all ton principles of the United around thewor1d. Wo areal so committed Nations Global Compact
JOOn aftor their creation to contJnuous 1mprovcmont and aro opon to and continuos to Implement them tOdlJY’. ottemol ongagomont rogerd1ng any aroo This latasl revision ddfers from the prw ious ol our Cotpcrate Business Pnncip)es. IWOversions in
that the ten principles of business opemtions are specifically i nked to online copies of moro dolilllod pnnclpk)L polloloa. ILilndDrds and guidf!olines. lNs has allowod tho sullcment of each principle to be more succinct w hile pr01iding mere
detailed implementing measures rolatod to oBCh one on tho World Wido Wob. All<l lor tho lir11 tlma. o map ol tho prlnciplos and on overvie.v oJ ralated company measures IS lllCiudod at the start of the document. ) ) /2:0’—‘7 w
’··—- 7—Petef Brabeck·Letmathe Pa~Butcke Chllrmant of the Boord Chief Exooutlvo Olfloor 3 

 

 

 

 
 The foundation for sustainability and Creating Shared Value As Neslle is a principle-based company. the At Nestle. we have analysed our
value chain Nestli Corpor.ne Business Principles form ard determined that thea reasof grea:est polential the foundation of al we do. Compiancewith ror joint valueoptimilaionwith society are Nestli Corpor.ne Business Principles. and Nt.1IiticnWater a
nd Rural Development. These with specific poicies related to each principle. activitiesare oore to our b usiness strategy and is nOfWiegoriable fatal emplcyees and their ‘lital to the wetfare o f the people in the countries application is
moni110red aoo regular¥ autited. where we oper.r-.e. As sha.vn in the ciag ram beiOYC compliance We ac:IM!Iy seek engagement and partnerships with Nestle Caporaie Busiress Principlesis with outside
stakeholders that optimil.e posilive the fCIJfldation for the Company’s commitment Wnpact in these areas of focus. Howe.-et Creating to be environmental¥ sustainable and to create Shared Value is not
aboJt philanthtophy. lt is sharedvaJue. about leveraging oore activities and partnerships Creating SharedValue is thebasicway we ror the joint benefit of the people in the countries do busines-s. which states
that in order to c::roote where we oper.r.e. long-term value for shareholders. we haw to In doing so. Nestle maintam a vecy create value fa socie:y. But we cannot be eitha long-term perspective on business darelopment environmentally sustainable or
create shared value andwelcomes cialogue wilh eldernal for shareholders and soci6y if we fail to comply s:atehokters whoare cern mined to JXT!cipled with out Business Prropres.. behavior and consttuclive engagement. At the same time. Creating Shared
Value This indudes gc:Mll’nment and reglhi’ay goes l:leyond oompianceard su stainabili:’(. Arry authoritie$. intec’governmental organis:nions. business that thinks tong-term and follows sound ncri1Jovemmen&al organisations.
ac:ademtc and b usiness principles createsvalue fer shareholders prodes-sional bcdes. and local com m111i1ies. and for society through itsactM~e.g. in terms of jobsfor wocters. taJC.es to St.Jpport pubfc services. and economic aciMty in general But
Creating Shared Vab:! goesone step furthec. A oxnpany consciously identifies areas of focus.. w here: a) shareholders’ interest and socie1.\’“s strongty intersect. and bl where value creation can be optimized b both. As a resul!. the
company invests rescuces. both in terms of talent and capitaL in those areas where the po-tential fOt’ jeW\I vabe creation is the gresteSI. and seets collaboratilre action with relevant stakeholders in
:society. Coolnpi~ w... Ncdi Cotp:do ~5Prn:pb$,. I..-$,. Codll5 ci Conduct 5 

 

 
 The ten principles of business operations Consumers Human rights Our people and labor practices 1 4 5 Nutrition. Health Hwnan rights in
our Leaders.h.ip and and Wellness business activmes personal responsibility Our core aim is to enhance We f1Jilly support the United Our success is based on our the quality of consumers’ lives Nations Global Compact’ s people. We treat
each othet liNfYY da~ everywhere by (UNGC) guiding principles with respect and dignity offering tastier and healthier on human rights and Labor and aoo spec:t everyone to food and beferage d1oioes aim to provide an exatq)le of promote a sense of
personal and E!f’IOCIIIXaging a heatthy good h001an rights and l.abof responsibiity. We recruit lifestyle. We E!lqlfess this via prac6oes throughoUl cu competent and moWated our OOf“POI’ate proposition bu:siness accivities. people who
respect our values. Good Food. Good l ife. provide equal opportooities for their delfeloprnent and advancement. protect their privacy and do not tolerate 2 anv form of harassment Quality aswrance ordisc:riminaOOn. and product safety Everywhere in
theWQrld. the Nestle name represents a promise to the c::onsumer 6 that the product is safe and Safety and health atwork ol tjgh sta>danl. We are committed to preventing accidents. iniuries aoo illness related towort.. aoo to pro&ect
e~~•4)tor’ee’So 3 oontraaors and o thers Consumer communication inYOtved along thevalue chain. We are c:orrwnitted to responsible. reiable conSl..11l81’ CCif1’W’I’lU”‘ication that empowers consurners ao
er:erci:ze their right to infonned choice and promotes healthierOOts. We respect oons001er privacy. • 

 

 
 Suppliers The e”“ironment and custome<s 7 9 Supplier and E~onmental customer relations sustainability We require our
~iers.. Wecommit ourseives to age””’ subcontractors environmoo .tally suSUiinable and lheir ernpb(ees to buW.ess practices. At al demcw’lstrate hones:rv. in&egrity stages of the product ife and fairness. and 10 adhere cycle
we strive to use natural toourno~le rMOUrees effieieruty. faux the standards. lin the same waf. use of sustainably~anaged we are oorrwnitted 10 OIX renewable r~s. own customers. and target zero waste. 8 10 Agricutture and Water rural development
Weare o:wrwnitted to the We oontnOute to ~0\il8“0ents sustainable useofwaterand in agricult...af production. the oonlinuous impnJ!iement social and economic status of in water management. VVe farmef”!!. rural communities and reoJgnize that
the wOfld faces in production systems to make a grorwT!g water d“lallenge them more environment~ and that responsible sustainable. management of thewortd’s resources by all water users i:s an absolute necessity. 7 

 

 
 Detailed descriptions and links to corporate policies Consumers 1 3 Nut ritiof\. Health and WeiJneu Consumer communication Our oxeaim is
to enhance the quaity of We are committed to responsible. reictlle oonst.mer’S’ lives evecv de¥. everyv.”‘here COOS’-WT~ef OOI”’‘W1””!Siication that
empowers by offering tastier and healthier food and cons’-W’I’IefS to ec.erci:ze 1heir right to notmed beveragec:hoioe<s and encouraging a heatttry choice and promotes heahhier diets.
lif &Style.Weetpress this via our oorp:lf“ate Werespect oonsumer privacy. proposition Good food. Good Life. Our core ~ssstrategy is built around Guided byouroommiunenl to N utri1ion. Health helping consumeiS to harte a balanced.
healthier and Welt’ess. wework to Mease theootritional diet. The Neste Consr.Jmg Commuricakln value of our products whie also imprWng Frinciples oontain mandalay rules on marketing taste and erf:!vment. We also develop btand oom
munico’“tion to all c~ers.incb:iing commulica:ion and ~lion that encourages aco.nate representation and portrayal and em powers consumers to make inicnned of foods in awat that does not encourage c hoices about their diet. ovei
-conswnption. In addilion. specific p-incipJes Please see The Nestle Principles oo Ntaitlort. gOOe our oommunication aoctlildren n:tuding Health and~at www..nestle.camlpolicies. noadven iWlg or marketing
activity 10cflik:lren under 6 ye;n ofage. Ad¥ertising to c:hldren from 6 to 12years is restricted to product’s that meet ptedetermined rutritional proiiing aiteria ird.dng clear liniaon energy and 2 health·sensiWe ingredierc.s such
ass~salt Quality assurance and product safery satu-rated fat and trans fauyac:ids. Olsdliklren’s Everywhefe in the wo0c1. the Nestle name com munication prinQples are specificalot represents a promise to the cons....-.er aimed at ptccec:ting
children bV ensuring that that the product is safe and of high standard. the adVertising is not mi:sleeding. does not undermlne pereontal authority or geneca:e Our oornmi’!ment isl’IE!‘W!f 10 oompromise unreai stic expectations
ciwooess. create a on the safery ot any product. Our O:Pir;Pdicy sense of IJl9«<CV or allude 10 a sense of kw price. summarises the essentials ot our passion The Nesde PdiCf on Nwition ~ndH&ilfh forexcelenoe: Oaims steers our actions
related to sc:ieruifical.ty to buid trust byofferi:lg productsand su-pportable tealth daims. Please seeThe seNices that matchconsumer ecpec:tation Nestle O:Jnsumer Canrtvnication Ftindples. and preference; The
Nestle Ft*yonNCJTiftJnand HeilthOaims to oom.plv with a l i”!temal and ectemal tood and The NeUe Mltritional Pidifng ~ safety. regulatory and quality requiremen ts. atww.v.neslle..oorr/poicjes.. Oua!iry is M!I’Yboctv’s canmitmentWe
continuouslychallenge ourselves in order to Marketing of InfantFooda constan1fy inprove and acheve the highest levels We are oomrritted to supportingwha:ewer is of quality. We maintain the same higlfood safety most suited foractVeving the best start
in life for standards in all countries in wtjchweoperate. babies. This means that we recommend breast We ensuce thedelivery of high quaity products feeding CNr$ al otherfeeding alternat’Nes. For through o..l’ Oua!i ty Management System.
those who needaltematNes to breast ieedirlg. Please see The Nestle OJality Ft:iicy our objectirte is tooffer iormu!a products that atww.v.restle.corrlpoicies. meet international standards for infant health in place of dangerous and inarpptopria:e
breast milk substitutes. such aswhole milk.. O:JJ objective i:s also to offerca’eeh.. baby ioods and milks that contribute ao optimal groNthand development in place of oomplementaiy loods of low nU1ritionalvalue often fed to infants. 8 Tho
NOS1ID Coq:onrto 8lU:IiiU J’nnci~ 

 

 
 Human rights and labor practices OIXinfant food marketi’lg iscooduaed in accordance with theWat;j Health Otga.nitation 4 (WHO)
International Codeof Marketing of Human rights in our business activities Breast-mil: Substitutes. as implemented tJv We fully support 1he l.k1ited Nations Global each member state of theWHO. Additionallv,. in
Co”“act’s (UNGCJ guiding principles on h’-.W’N:n deveklping co!XItries,. we voluntariy implement rights and labor and aim to ptOYide an example the WHO Code. whetheror not the government of good h...-nan rights and labor practices has done so. We monitor our own prac:ices throug-tout ow business activities. to ensure compliance wilh those standards irrespec!Ne ofw hether a not a gc:wemment We mcntoring
sys:em is in p&:lc:e..lndependent support and respect the protection of a.Jditing of Nestlec:ompli;moe with the WHO Code in:ernational human rights w ittin our sphere is conducted onan ongOOg basis by recognized d influeooe (UNGC Principle 1);
social aucfllng companies and reports are ~ldf make sure that we are not compkit in human arailable. Aease see WWN.babymilc.nestle.oom. rights abuses IUNGC Principle 2}; ace against all forms of EJCploitation
ofdild.-en; recognize privacy as a human right; ccpc c:t eocn ofout oomp.:~niee; to ~poe1 and f~owthe locaJ lawsand reg!Aations concerning human rights practices. Where our ONn principles and regulationsare
stricter than local legislatioll. the higher sta.nda.td applies.: recognize the responsibiity ol companies 10 respect human rights irrespective of the fact that go.rernments are u!Wnateiy cespons. lble lor the establishment ofa legal framework lor
pro:ecting bJman rightswittWt their jl.6isdictions. V\‘e uphotj the freedom of association and the effective recognftion of the right to collective bargaining (UNGC Pmciple3k theeirnination of al forms of forced and compulsory labor (UNGC
Principle 4); theeffective abolition of c:tild lata (UNGC Pmciple St theeirnination of discrimination in respect of employment occupation (UNGC Principle 6). V\‘e adhere to the eight fundamental Conventions of the International l abor
Organisation (llO). in parlicular Corwercion 87. Freedom ofA ssociation and Protection of the Right 10 Organize (1948). as wei asConvention t38. MinimumAgefot Employment and Cof’tlfention 182. ~rst Forms of Chikl labot Which are based on the
United Nations Convention at the Rights of the Child tll.. rtic:le 32). Furthermore. ~adhere to the Tripartite Declaration d Principles concerning MU!bnatJOnal t nterpnses aNl :Sooal t’OIIcy (ILUt of l’\l..arch 2006and the OECD
Guiclek’les for Muflinational Enterprises ofJ une 2000. 9 

 

 
 Our people 5 6 Leaders.hip and personaJ responsibility Safety a.nd health at work Our suooess is based on our people. We IJeat We are
committed topreventing acciderrui,. each other with res,pea and~and injuriesand illness related to wa1(. and expect everyone to promote a sen-se of to Pf’C1’eCt etnP:¥ees~ oontractors and others
personal responsibiity. We recrUt competent invohled along the value chain. and motivated people who respecto..w values.. provide ~al opportl.riries fat their Our PdCfonSiietyiH’d Health at WOI’k development and advancement. protect
estabishes safety as a non·negoriable priority their privacy and do not tolerate any fonn of ourculture. We recognize and requit e then of harassment a- discrimination. everyo”‘e play an
active role in pro.riding a safe and healtflV environment and promote Nestle Management awareness and knowledge of safety and health and u.:terahip Principles to employees. contracunand OCher people Our Manage1’11t!n andLeadership PrinaP es
related to or ntpacted bV our business activities describe the cdture and basic valueswe by se1tr.g high standards. expect our emi*JVees to uphord. as wei We monita our perfamancethrough as the attn“bu tes needed tobe successful WI the Nestle
Occupational Safety ard Heellh managemen t and leadership. Please see Management Ststem to assure a safe and healthy The Nestle Mdrsgement and Leaderslip Pmciples worlcp8::e. Please see The NestlePdicy on Saf«t atwww.nestJe.oom/POii:ies.. and
Health ilt ~at v.ww.nesde.comiPOicies. Nestle Code of Bua.inea: Conduct Our Cede ofBusiness O:JrdJct specifies cenai n non--negotiable minim...-n standards in keV areas
ofemployee behaviot. ird.Jdi.ng compliance with laws, conficts of interes:s.,. anti-trust and far aearmg. btibert eotrupcion (UNOC Principle 10~ disc!TrWiation and harassment. and integrity. We believe in the Wnponance of free competition and
arecommitted to ac:Wlg with integrity in a l situations. Please see The NesJte Code> d &nness CordJct atwww.nesde.com’poicies. 0...Human Resources lblicy specifies attitudes such asmutual respect uust and uanspc;rency in relaW.g
toone another and encourages open communicaticna nd oooperation. Weal-so believe that OU” bn~term success depends on OU’ capacily to atttact. d~protect and re:ain the rV:n and best emplovees. We
respect -.n.ernaiional cawentions c:oncerrW’lg employees’ rights. do not to&«a:e di-scrWnination for reasons suctl as origin. nationaity, ref.gion. race. genc:let ageor sexual orientation
or mgage inany kind ofverbal or physical harassment based on antof the ibt:Ne ora!‘llf other reason. We uphold the ft eedcm ofassociation ofour empbyees and the effective recogrjtion ci the ligh t 10 cd:lecWe bargaining through ..nonsa other
l\fpes ofassocia1ioos (UNGC Principle 3J. We respeaooremplovees’ right to privacy. 

 

 
 Suppliers and customers 7 8 Supplier and customer relations Agriculture and rural development We require oursuppliers. agents,.
suboonuactors We contribute to imptWements in agriculn.al and their empoyees to demonstrate honesty. production. the social and economic status W’ltegrity and fairness. and to adhere to our offarmers. rural oommooi6es and in producbon
notH1egOtiable standards. In the samew/11{. \IIIIE!! systems to make t hem more erNironmentalli( are committed to our own customers. su-stainable. The NestltiSupPier Code spec:ifes minimum To ensure that our
faaories obtain raw materials standards that we ask our sa..-ppiers. agents. competilively and at requred quai ty and safety subcontractorsand theW employees 10 respect specifications and ac!here to. The SupPier Code inck.ldes weengage in developing
sUS!ainable requirements suchas business integrity. agriOJ!tural practices and systems that sustainable operating and agricubural contribute to long-term production efficiency. practices. labor standards. safety. health ‘liable incomes for
farrnets and the transfer and environmental practices. d agricultural knowledge to suppliers; To enSUte that the SUpp/iel’ Code is put we support lhe applicaXm of new in practice. we reserve the righ t toverity technologies and advanoes ill
agricultural the suppliers· complial”‘Ie with the Code on science. including the oppoctUnities offered a regular basis. by OOsciencewhen their positive effect on Please see TheNI!!Sde Supplier Code food safety. environment.
agricultural practices at v..ww.nestle-com’pol!:i&s.. and production efficiencyare scienlifically confirmed and aooepted by consumers.. The SustainabJeAgrioJiture lnitiatNe Nestle ISNNJ
guidesOIA’ engagement in fanning systems to support agricuttural practices. rural deYeJo~ent. sourcing pro:::es.ses and practices that are sustainable omr ct.:> long term. Please see The NeSIJe Pdcyon Enrironmenral Si.Jsrainatilitf at
www.nesde.cornloolicies. n 

 

 
 The e1111ironment 9 10 Environmental s.usta.inability Wat er We cornrnit ourse.lves to ei’IVWonmentally Weare ocwnrritted to lhe
sustainable use sustainable business practices. At al stages ofwater and continuous .,provement in water of the product life cycle we strive to use management.We recognize that thewcwk:l faces natwal resources effic:ientty. favor the use a growing
water challenge and that responsi:Jie of sustainably managed renewable resources. management of the world’s r-escu’oes btf all and target zero waste. water users is an absolute necessity. We invest
contiruousJy 10 imprCN’e ocr Water i-s a partirufar area of focus lor Nestle. environmental performance. The Nes:tte ~cy The Nestle Commitments on Wa-ta’ set
out on ENirolrnental Su.stai’nab1it; incotpora tes the oor jXioribes and objectives on responsible U nlteO Nauons GloOail eornpacf s m ree Ql*JlnQ wa1« usage. Tl’lese are toconunueourenons principles on environment (Principles 7. 8
and 91. to reduce the amount of wata’ used in our We apply a product life cydeapprcech opei s:tions.. ensure that activities respeel local ntol\ling our partners from farm to oonsumer waltY resources. ensure that the water we .,order to
tnr.imil:e the environmental impact discharge into the e~oornent is d ea.n. engage of cu prcductsand ac’livities. Our lOIS priority with suppliers to promote water conservation. areas are: wa:er. agric:uJtlsal ra.v material-s. espec:ianv among farmers.. and reach out to ochei s. manufacturing and disttiOOtion of o ur products. on water conservat ionandaooess. Nestle is a and padcaging. ‘INe implement our pcticy through
founding signatcwy of the United Nations Gobal the Nestle &Mronmental Management System. Compact CEO Water Mandate.. We believe that environmental performance We monitcw and improrewa1« efficiency isa shared responsitiity and requires
the through ourwat« resources management ooopetation of anparts of society. We are speciali-sts and in o ur factories with our detennined to ccn6nue providing leadership environmental specialists in
lnewith the within our sphere of inll uence. Please see Nestle Erwironmental Management System. The Nestle ~cyonEwironmentalSi .l:stainabift We recogrUe the right ofal people atwww.nesde.oom’’!?‘Qes. to hare access to d ean water to
meet th~ baste needs. Please see Every Dropt:cum atWWVY.nestJe.~f’!!”!i!r:!m. 12 

 

 
 Auditing TheNestleCorporate BuW\ess Principles are mandatory st atements foe all Nestle managers and employees and are integrated in bu-siness planning. auditing and performance reviews. The Corporate Business Principles are associated with specifiC policiesand reference codes. w here c:omplance procedures are outined. See the Nestle p!Tlciples
and policies map for the appropriate linkages and reference policies (inside front cover). Nest!e•s compliance regarding itsCorporate Business Principles is regularly te’lliewed byits W’lternal auditorso n the basis of clear alXIiting
Wlstruct~which are published fot all emplovees to consult on the Nestle SA. intranet. Ccrnplia.nc:e regarding human resources. safell; healtt’l. erMronment and business in:egrity is assessed through our CARE Program w hich relies on an
independent ecternal aodi1 network. Our reportS on Creatng SharedVaJue areaudited by W’ldependent ext«nal aucitors for accuracy and vaidation. Our external auditors KPMG. when obtaining an unders&ancling of the internal control system
of Nestle. consider how the Corporate Business Principles fit into theoverall corporate go.remance frarnewot1c of the Group. Findings and recc:wnmendations are reported through the Board Audit Committee to the Nestle SABoard of Directors.

 

 

 Appendix 16 

List of Alliance Members 
  

	1.	 Danone 

  

	2.	 Nestlé Waters 

 

	3.	 PepsiCo 

  

	4.	 OriginEX-10.46

 Exhibit 10.46 

*** = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL
AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 OFFTAKE SUPPLY AGREEMENT 

This offtake supply agreement (“Agreement”) is made on December 13, 2020 (“Effective
Date”), between Packaging Equity Holdings, LLC (“PEH” or “Buyer”) and Micromidas, Inc., dba Origin Materials (“Supplier”). Buyer and the Supplier are
hereafter referred to collectively as the “Parties” and each individually as a “Party”. 
 BACKGROUND:

 A. Buyer is a Delaware Limited Liability Company and, through its Affiliates, operates three (3) production facilities in
the United States active in the production of Polyethylene Terephthalate (“PET”) food containers and aluminum foil containers. 

B. Buyer wishes to secure a supply of low or negative carbon plastics including FDCA, PET, Poly(ethylene
2,5-furandicarboxylate-co- ethylene terephthalate) (“PETF”) or Polyethylene Furanoate (“PEF”)
from cellulosic materials, to be used in the production of thermoformed plastic packaging; 
 C. The Supplier specializes in the
manufacture and supply of key intermediates and plastics from cellulosic materials and has developed a variety of proprietary technologies to produce 2,5-furandicarboxylate (“FDCA”), PET and
PETF from such materials; 
 D. The Supplier is constructing a small commercial plant located in Canada (“Origin1”)
for the production of Chloromethyl Furfural (“CMF”). The CMF produced at Origin1 will be converted by one or more third-party converters (each a “Supplier Affiliate” and collectively referred to as
“Associated Polyester Supply Chain”) to FDCA or Paraxylene (“PX”), then to PETF or PET or PEF (PETF, PET and PEF each individually a “Resin” and collectively the “Resins”); 

E. The Supplier intends, directly or indirectly, to develop one or more New Plants (defined below) for the production of CMF and PX and
to utilize the Associated Polyester Supply Chain to produce one or more Resins; and 
 F. This Agreement contains the terms and
conditions on which the Supplier will produce and supply, and Buyer will receive and purchase, certain specified Products. 
 For the
consideration and pursuant to the mutual covenants hereinafter set forth, the receipt and adequacy of which are hereby acknowledged, the Parties agree as follows: 
  

	1.	 PURPOSE 

Subject to the terms of this Agreement, the Parties agree that (i) with respect to Origin1 and the New Plants, the Supplier will
manufacture CMF, convert or have such CMF converted to the Resins and supply the Products to Buyer; and (ii) Buyer will pay the Supplier according to the terms of this Agreement. 

 

	2.	 DEFINITIONS 

2.1 Except as specifically defined or modified elsewhere in this Agreement, the following terms have the meanings set forth below: 

  
 1 

			
	 Term:
	  	 Meaning:

		
	Affiliate	  	Means, with respect to any Person, any other Person who directly or indirectly controls, is controlled by, or is under common control with such Person. For purposes of this definition, the terms “controlled” and
“control” (including the terms “controlled by” or “under common control with”) mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise;
		
	Applicable Law	  	With respect to any Person, any domestic or foreign, federal, state or local statute, law, ordinance, rule, regulation, order, writ, injunction, judgment, decree or other requirement of any governmental authority applicable to such
Person in connection with this Agreement;
		
	Bankruptcy Event	  	With respect to any Person, (i) if such Person files in any court pursuant to any statute of the United States or of any state a petition in bankruptcy or insolvency, or files for reorganization or for the appointment of a
receiver or a trustee of all or a material portion of such Person’s property, (ii) if such Person makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts as they fall due or seeks, consents to or
acquiesces in the appointment of a trustee, receiver or liquidator of any material portion of its property, (iii) if there is filed against such Person in any court, pursuant to any statute of the United States or of any state, a petition in
bankruptcy or insolvency, or for reorganization, or for the appointment of a receiver or trustee of all or a substantial portion of such Person’s property, and within ninety (90) days after the commencement of any such proceeding, such
petition is not dismissed, or (iv) any event substantively identical to (i), (ii), or (iii) of this paragraph that occurs with respect to any Person under the laws of any foreign jurisdiction;
		
	Confidentiality Agreement	  	The agreement attached as Appendix 3;
		
	Confidentiality Information	  	The meaning ascribed to it in the Confidentiality Agreement (as applicable);
		
	 Force Majeure

Event    
	  	[***]

  
 2 

			
	 Term:
	  	 Meaning:

		
		  	[***]
		
	Intellectual Property Rights	  	Any or all of the following and all rights associated therewith: (i) all domestic and foreign patents and applications therefor and all reissues, divisions, renewals, extensions, continuations and
continuations-in-part thereof; (ii) all inventions (whether patentable or not), invention disclosures, improvements, trade secrets, proprietary information, know
how, technology, technical data and all documentation relating to any of the foregoing; (iii) all copyrights, copyright registrations and applications therefor, and all other rights corresponding thereto throughout the world; (iv) all mask
works, mask work registrations and applications therefor; (v) all industrial designs and any registrations and applications therefor; (vi) all trade names, domain names, common law trademarks and service marks, trademark and service mark
registrations and applications therefor and all goodwill associated therewith; and (vii) all computer software including all source code, object code, firmware, development tools, files, records and data, all media on which any of the foregoing
is recorded and all documentation related to any of the foregoing;
		
	Life Cycle Analysis	  	Means an assessment of the environmental impacts associated with all the stages of a Product’s life from raw material extraction through materials processing, manufacture and distribution that demonstrates the carbon benefits
of the Products produced at Origin1 and the New Plant over the petroleum or recycled alternatives. Supplier’s Life Cycle Assessment will be prepared by a qualified third-party firm selected by Supplier in its reasonable discretion.
		
	New Plants	  	Means the next three (3) plants, or the single integrated complex of plants, constructed after the construction of the Origin1 Plant (i) developed, constructed, owned, in whole or in part, or operated, directly or
indirectly, by or on behalf of the Supplier or any Affiliate thereof individually or jointly with any third party or (ii) developed, constructed, owned or operated by any third party to which Supplier or any Affiliate thereof has directly or
indirectly licensed any Intellectual Property Rights, in each case, at which Products are manufactured by any such Person;
		
	Person    	  	Any individual, sole proprietorship, general partnership, limited partnership, corporation, business trust, trust, joint venture, limited liability company, association, joint stock company, bank, unincorporated organization or any
other form of entity;

  
 3 

			
	 Term:
	  	 Meaning:

		
	Product	  	Means Resins produced from CMF and/or PX made at Origin1 or a New Plant, as applicable, and all associated carbon credits and other environmental benefits associated therewith made from 100% cellulosic, carbohydrate and non-petroleum materials; provided, that Supplier may use non-plant-based ethylene in its production of Terephthalic Acid.
		
	Technical Specifications	  	Means the quality and food safety requirements for PETF described in Appendix 2, as may be amended from time to time in accordance with Section 17.5.

  

	3.	 CONDITIONS PRECEDENT 

3.1 Conditions Precedent—Origin1. The obligations of the Parties under this Agreement with respect to the purchase and sale of the
Product manufactured from chemicals produced at Origin1 will become effective on the date on which each of the following conditions precedent has been fulfilled or waived by the Party benefiting from any such condition in accordance with
Section 3.2 (“Origin1 Start Date”): 
 (i) Supplier has supplied
sample Product (limited to PEF and PETF) to Buyer produced at Origin1 that meet or exceed those specifications set forth in Appendix 2. 

(ii) Supplier has demonstrated the ability to produce sufficient Product inventory such that Supplier is prepared to
ship to Buyer the annual Fixed Offtake Volume for Origin1 on a regular periodic cadence in accordance with the batch processing of the Product and the materials used to make the Product, it being understood that there may be a ramp up period for the
production of the Product during the initial 6 months following the Origin1 Start Date. 
 (iii) Supplier shall have
entered into contracts with any required Supplier Affiliate in order to meet its obligations under this Agreement. 
 3.2 Waiver of the
Conditions Precedent. The Party benefiting from a condition precedent may waive any such condition precedent in writing at its sole and absolute discretion, provided that condition 3.1(i) shall be deemed to benefit Buyer and conditions 3.1(ii)
and 3.1(iii) shall be deemed to benefit both Parties. 
 3.3 Fulfilment of the Conditions Precedent. In the event a Party becomes
aware that any such condition precedent cannot be fulfilled or its fulfilment may be materially delayed, it will promptly inform the other Party, and the Parties will consult with one another regarding the fulfilment of such condition precedent and
any possible modification of, or extension of time to fulfil, such condition precedent, that is acceptable to both Parties, each in its sole discretion, without prejudice to Buyer’s right to terminate this Agreement pursuant to and in
accordance with this Agreement. Any agreement between the Parties on a possible modification or extension with respect to any such condition precedent will be subject to a specific written amendment to this Agreement. 

3.4 Termination. In the event that any condition precedent set forth in Section 3.1 has not been
fulfilled or waived by the Party benefiting from any such condition by January 1, 2025, then unless otherwise agreed in writing by the Parties, this Agreement will terminate automatically and immediately, without any further action by either
Party and without further liability, except as otherwise provided in Section 3.3. In addition, Supplier will give Buyer notice if Supplier obtains actual knowledge at any time that there is a substantial likelihood (as reasonably determined by
Supplier) that the Origin1 Start Date will not occur on or before January 1, 2025. Buyer may terminate this Agreement (without liability to Supplier) following receipt of such notice by providing written notice to Supplier. 

  
 4 

	4.	 PRODUCT 

4.1 Product from Origin1 

4.1.1 Subject to Sections 5.1.2 and 5.1.3, the agreed Product to be produced for purchase and sale from
Origin1 will be (i) PETF containing approximately [***] FDCA by weight, provided that the exact quantity of FDCA included in such PETF will be determined by the Parties, working together in good faith, and (ii) PEF. 

4.1.2 The Parties may mutually agree in writing to modify the Product to be purchased and sold from Origin1. 

4.2 Product from New Plants 

4.2.1 The agreed Product to be produced for purchase and sale from the New Plants will initially be PET. 

4.2.2 Notwithstanding the foregoing, Supplier and Buyer both wish to migrate all of the purchases of Product from New Plant from PET to
PEF as soon as practicable and to the extent commercially accepted. Accordingly, when any New Plant is able to produce PEF, Supplier will provide notice thereof to Buyer and the Parties will collaborate reasonably and in good faith to address any
supply chain challenges, or technical, regulatory or other hurdles necessary to effect the migration to PEF. 
  

	5.	 QUALITY 

5.1 Quality Requirement. 

5.1.1 The Supplier will, and will use commercially reasonable efforts to cause the Associated Polyester Supply Chain to, manufacture
Products in accordance with the terms of this Agreement, including but not limited to the Technical Specifications and all Applicable Laws related to the Products and the procurement, manufacture, handling, transport, storage, packaging and delivery
thereof in all relevant jurisdictions. 
 5.1.2 All Products delivered by Supplier will be subject to the applicable quality
specifications set forth in Appendix 2. 
 5.1.3 In the case of PETF, the Product will exhibit properties that
are at least as good as PET for use in thermoforming applications, as set forth in Appendix 2, as reasonably determined by Buyer, acting in good faith. 

5.1.4 Supplier will share with Buyer the Life Cycle Analysis of the Product with the intention that Buyer will be entitled to share this
information with third parties and for marketing purposes. 
 5.2 Failure to Meet the Quality Requirement. 

5.2.1 If the Product delivered by Supplier fails to meet the quality requirements for Products as described in this Agreement, including
but not limited to those set forth in Section 5.1 (the “Quality Requirement”), Buyer will notify the Supplier thereof as soon as reasonably practicable, but in any event, within [***] from the
date on which Buyer obtained knowledge of such failure, which notification will provide reasonable specificity with regard to the defect. 

  
 5 

 5.2.2 Without limiting any of its rights hereunder, Buyer will take commercially
reasonable measures to address costs associated with any such failure described in Section 5.2.1. In the event that any materials delivered by Supplier fail to meet the applicable Quality Requirements for such
Product, and Buyer cannot use such material as originally intended, then Supplier will be obligated to take the materials back at its own expense and Buyer will not be obligated to purchase such materials. 

5.2.3 In the event that the Supplier or any Supplier Affiliate obtains knowledge that any material produced will fail to meet the
applicable Quality Requirement, the Supplier or such Supplier Affiliate will promptly provide written notice thereof to Buyer, at which point Buyer will negotiate with Supplier in good faith based on the actual specifications of the material to
determine a price at which the materials can be purchased, if any. 
 5.2.4 EXCEPT AS SET FORTH IN THIS AGREEMENT, NEITHER THE
SUPPLIER NOR ANY SUPPLIER AFFILIATE MAKES ANY OTHER WARRANTY, WHETHER OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE, EXPRESSED OR IMPLIED, WITH RESPECT TO PRODUCTS. 

 

	6.	 PRICE AND PAYMENT 

6.1 Price for the Products. The prices for the Products provided by the Supplier to Buyer during the term of this Agreement are set
forth below. 
 6.1.1 The initial price for the Products will be [***]. The actual price will be adjusted each month based on
[***]. By way of example, [***]. 
 6.1.2 Notwithstanding Section 6.1.3, for any PEF Product
purchased by Buyer, which was produced at Origin1, the price will be [***]. Any PEF Product purchased from the New Plants during the Term will be subject to the pricing in Sections 6.1.1 and 6.1.3. 

6.1.3 [***]. In addition to the adjustments above, the price for the Product will [***]. 

6.2 Payments. The Buyer will pay for the Products delivered by the Supplier in sixty (60) days from the later of the invoice date
or the date that the Product is received by the Buyer. 
 6.3 Taxes. [***]. Such taxes, if applicable (“Applicable
Taxes”), [***]. 

  
 6 

	7.	 QUANTITIES 

7.1.1 The Buyer’s annual purchase volume obligations by year for Origin1 and the New Plants are shown in Appendix
1 (the “Fixed Offtake Volume”) and its optional purchase volume obligations are also shown on Appendix 1 (the “Optional Offtake Volume”). 

7.1.2 Solely with respect to Origin1, Supplier will [***] and Buyer will [***] provided that [***]. There shall be
[***]. 
 7.1.3 During the Term, Buyer will purchase and take delivery of the annual Fixed Offtake Volume on a regular periodic
cadence (the “Delivery Schedule”), which Supplier and Buyer will work together, in good faith, to ensure is as evenly distributed throughout the year as possible, taking into account the batch processing procedure for Origin1. At
the beginning of each calendar year, Supplier will notify Buyer in writing of the anticipated production schedule for Origin1 and the New Plants, as applicable, and the Fixed Volume Offtake for each such plant will be delivered pro rata following
the completion of production. On the dates specified in the Delivery Scheduled, Buyer will have an obligation to purchase the applicable pro rata share of the annual Fixed Offtake Volume and the right to purchase additional Product volumes up the
amount of the applicable pro rata share of the annual Optional Offtake Volume. 
 7.1.4 On each delivery date, Supplier will reserve
the Product capacities necessary to fulfill the applicable pro rata Optional Offtake Volume amount, and Buyer must notify Supplier within 30 days before the applicable delivery date as to whether Buyer exercises its right to purchase the pro rata
Optional Offtake Volumes. Buyer will have separate Optional Offtake Volumes for Origin1 and the New Plants, respectively, and each of the options may be exercised in part or in full. Supplier will keep Buyer apprised of the status of development of
each New Plant, including the expected production start date of each, and will formally provide Buyer with written notice no earlier than two (2) years before the expected production start date of each New Plant and Buyer shall have three
(3) months from the date of such notice to exercise all or part of its option for that specific New Plant. 
 7.1.5 If on any
delivery date Buyer fails to take delivery of the applicable pro rata share of Fixed Offtake Volume, within thirty (30) days of the applicable delivery date, Buyer will pay the Supplier an amount equal to the positive difference between
(i) the price specified in this Agreement for the applicable Fixed Offtake Volume of Product required to be purchased by Buyer on such delivery date, as applicable, and (ii) the price at which the Supplier is able, using commercially
reasonable efforts, to sell such Product to a third party, if any. 
 7.1.6 Notwithstanding the foregoing, if Buyer fails to accept
delivery of the applicable pro rata share of the annual Fixed Offtake Volume of Product for three (3) consecutive delivery dates, except in connection with a Force Majeure Event, such event shall be deemed an event of default. 

8. TITLE AND RISKS 
 8.1 Unless
otherwise agreed to in writing by the Parties, all deliveries of Product shall be made DDP at Buyer’s location at 6941 West Goshen Avenue, Visalia, California 93291 and title and risk of loss for the Product will pass to the Buyer at the same
time. Each Party is entitled to have its representative(s) present during all loadings, testing and measurements of the Product delivered hereunder. 

8.2 In accordance with Section 8.1, Supplier is responsible for freight costs for Product deliveries.
In the event that [***] Supplier will [***]. 

  
 7 

 Supplier shall [***]. 

9. FORCE MAJEURE EVENTS 
 9.1
Neither Party will be responsible for any failure to perform any of its contractual obligations hereunder, if such failure is due to a Force Majeure Event. 

9.2 The Party claiming to be affected by a Force Majeure Event will use its commercially reasonable efforts to mitigate the consequences
of such event and will notify the other Party as soon as possible after the occurrence of such Force Majeure Event. The Parties will promptly consult each other in order to assess the consequences of such Force Majeure Event, and the Party affected
thereby will attempt in good faith to resume the performance of this Agreement as soon as is reasonably practicable. 
 9.3 If any
Force Majeure Event lasts more than [***] after a Party gives written notice thereof to the other Party and the Parties do not agree otherwise within such time period, the Party that is not subject to such Force Majeure Event will have the right to
terminate this Agreement in accordance with Article 13. In the event of a termination under this Section 9.3, this Agreement will terminate without liability to either Party by reason of the
occurrence of the Force Majeure Event, except as otherwise provided in Article 12. 
  

	10.	 TERM 

10.1 The term of this Agreement is ten (10) years from the Origin1 Start Date. 

11. [***] 
 11.1 During the Term,
Supplier will [***]. 
  

	12.	 TERMINATION 

12.1 Termination for Breach. Subject to the notice and cure provisions set forth in Section 12.3, and
without prejudice to any other damages, rights or remedies to which it may be entitled, either Party will be entitled to terminate this Agreement by written notice in the event the other Party breaches any of its representations, warranties or
covenants in this Agreement. 
 12.2 Other Cases of Termination. 

12.2.1 Without compliance with the notice and cure provisions in Section 12.3 (but subject to
compliance with any notice and cure provisions set forth in the specified Sections), this Agreement may be terminated or will be terminated, as the case may be: 

(i) in accordance with the terms of Article 2 (Conditions Precedent); 

(ii) in accordance with the terms of Article 9 (Force Majeure Events); 

  
 8 

 12.2.2 Upon the occurrence of a Bankruptcy Event with respect to a Party, the other
Party may terminate this Agreement by written notice to such first-mentioned Party. 
 12.2.3 In the event that Buyer fails to timely
pay in accordance with Article 6 any amount(s) due to the Supplier or any Supplier Affiliate that is individually or in aggregate in excess of $50,000 (other than any amount that is being disputed in good faith) and fails to
cure such breach within ten (10) days after written notice to Buyer thereof, in accordance with Section 12.3, by the Supplier or any applicable Supplier Affiliate, the Supplier may terminate this Agreement upon
written notice to Buyer. 
 12.2.4 A Party fails to comply with the assignment and transfer provisions herein. 

12.3 Prior Written Notice and Cure Period. Except as set forth in Section 12.2, if either Party
breaches this Agreement and the non-breaching Party desires to terminate this Agreement (and except where differing notice and/or cure rights are specifically provided in any other provision of this Agreement
or where specifically otherwise provided), such non-breaching Party will first provide the breaching Party with written notice in accordance with Section 17.3 of its intent to
terminate this Agreement. Such notice will include a reasonable description of the applicable breach and the reason for such termination, together with reasonable supporting documentation, if applicable. The breaching Party will have [***]from the
date such notice is given to cure such breach, or, if such breach can be cured but not within such [***], such longer period as may be reasonably necessary to cure such breach, but in no event more than [***] after such notice of breach is given;
provided that the breaching Party will (i) commence within [***] after notice thereof to cure such breach, (ii) provide the non-breaching Party with an adequate written plan within [***] after such
notice of breach to cure such breach within not more than such [***] after the notice of such breach is given and (iii) during such [***] period, make diligent efforts to cure such breach and provide the
non-breaching Party with reports every [***] documenting the breaching Party’s diligent efforts to cure such breach. If such breach is not cured within [***] or such longer time period, up to [***], if
applicable, the non-breaching Party will have the right to terminate this Agreement by written notice to the breaching Party without prejudice to any other rights, remedies or damages to which the non-breaching Party may be entitled hereunder. 
  

	13.	 CONSEQUENCES OF EXPIRATION AND TERMINATION 

13.1 In case of expiration or termination of this Agreement for any reason, each Party will return to the other Party or destroy within
thirty (30) days all Confidential Information owned by the other Party and will immediately cease to use any such Confidential Information. 

13.2 In the event the Buyer breaches its obligations beyond all applicable notice and cure periods, including failure to purchase and
pay for the Offtake Volumes, the Supplies may exercise, from time to time, one or more of the following remedies: 
 13.2.1 Suspend
performance of its obligations under this Agreement, including suspension of all further processing of Resin (during which time Supplier may sell such Resin to third parties) until such breach is cured; 

13.2.2 Terminate this Agreement following which [***]. Nothing contained in this Article 13 will affect
either Party’s rights under Article 15 or the Confidentiality Agreement; 

  
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 13.2.3 Proceed to exercise any other right or remedy that it may have available to it
under this Agreement, Applicable Law or in equity, including specific performance. 
 13.3 Except as expressly set forth herein,
termination or expiration of this Agreement, however caused, will be without prejudice to any obligations or rights of either of the Parties which may have accrued before termination or expiration and will not affect any provision of this Agreement
which is expressly or by implication intended to come into effect on, or to continue in effect after, such termination or expiry, including Article 6 (Price and Payment), this Article 13 (Consequence of
Expiration and Termination), Article 14 (Consequential Damages), Article 15 (Confidentiality), and Section 17.7 (Governing Law). 

 

	14.	 CONSEQUENTIAL DAMAGES 

Subject to Section 13.2, neither Party will have the right to seek or recover any consequential, special, or
punitive damages from the other Party or its Affiliates pursuant to this Agreement except damages of any kind resulting from such other Party’s gross negligence or willful misconduct or injury to person or property caused by such other Party or
its agents or subcontractors that, in each of the foregoing cases, are payable to any third party. 
  

	15.	 CONFIDENTIALITY 

The Parties have entered into the Confidentiality Agreement, a copy of which is attached as Appendix 3. Subject to the
provisions of Article 14, nothing in this Agreement is intended to modify or supersede the provisions of the Confidentiality Agreement, and the Confidentiality Agreement will remain in full force and effect after the execution
of this Agreement. The Parties agree that if this Agreement is required to be publicly disclosed pursuant to Applicable Law, the Parties will cooperate in good faith to pursue confidential treatment, to the extent available, of the proprietary and
commercial terms hereof. 
  

	16.	 ASSIGNMENT 

16.1 Except as set forth in this Article 16, the Supplier will not assign or otherwise transfer, in whole or in
part any of its rights or obligations under this Agreement without Buyer’s prior written consent, which consent will not be unreasonably withheld, conditioned or delayed; provided that [***]; provided that [***]. 

16.2 Buyer will not assign or otherwise transfer, in whole or in part, any of its rights or obligations under this Agreement to any
Person, without the Supplier’s prior written consent, which consent will not be unreasonably withheld, conditioned or delayed; provided that [***]. 
  

	17.	 MISCELLANEOUS 

17.1 Severability. If any provision of this Agreement is held under a final court decision to be invalid, illegal or unenforceable in
any respect, such determination will not impair or affect the validity, legality or enforceability of the remaining provisions hereof. 

  
 10 

 17.2 Waiver. Failure by either Party to notify the other Party of a breach of any
provision of this Agreement or to enforce any of its rights under this Agreement will not constitute a waiver of any continuing breach and/or of those rights. A waiver by either Party of a breach of any provision of this Agreement will not operate
as, or be construed to be, a waiver of any subsequent breach of the same provision or any other provision of this Agreement. 
 17.3
Notice. Any notice or other communication required or permitted hereunder will be in writing addressed as follows: 
  

	 	(i)	 if to the Supplier: 

Micromidas, Inc. (dba Origin Materials) 

930 Riverside Parkway, Suite 10 West 

Sacramento, CA 95605 
 Attn:
Legal Department 
 Email: legal@originmaterials.com 

with a copy to: 
 Cooley, LLP

 101 California Street 
 5th
Floor 
 San Francisco, CA 94111-5800 

Attn: Marlena Schultz 
 Email:
mschultz@cooley.com 
  

	 	(ii)	 if to Buyer: 

Packaging Equity Holdings, LLC 

2334 M ST #2893 
 Merced, CA
95340-9998 
 Attn: Michael Leraris 

Email: Michael.Leraris@replanet.com 

With a copy to: 
 K&L Gates
LLP 
 925 Fourth Avenue, Suite 2900 

Seattle, WA 98104 
 Attn: Gary
J. Kocher 
 Email: gary.kocher@klgates.com 

or to such other address as a Party may, from time to time, designate in a written notice to the other Party. 

17.4 Entire Agreement. This Agreement (including all Appendices hereto), together with the Confidentiality Agreement, constitute the
entire agreement between the Parties pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, of the Parties in connection therewith. 

17.5 Amendments. Any modification, amendment or supplement to this Agreement must be made in writing and signed by both Parties’
authorized representatives. 

  
 11 

 17.6 Counterparts. This Agreement may be executed electronically and in counterparts
each of which when executed by one or both Parties hereto will constitute an original but all of which will constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement electronically will have
the same effect as delivery of a manually executed counterpart. 
 17.7 Governing Law. THE LAWS OF THE STATE OF NEW YORK WILL GOVERN
THE VALIDITY OF THIS AGREEMENT, THE CONSTRUCTION OF ITS TERMS AND THE INTERPRETATION OF THE RIGHTS AND DUTIES OF THE PARTIES, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. 

17.8 Arbitration. Any action or proceeding by any Party to enforce, construe or otherwise relating to or concerning this Agreement will
be submitted exclusively for resolution by binding arbitration before The American Arbitration Association by a single arbitrator located in San Francisco, California in accordance with its rules for commercial disputes then in effect. The
arbitrator shall award fees and costs to the prevailing party. Judgment on the award or any order, final or interim, made by the arbitrator may be entered, registered or filed for enforcement purposes in any court having jurisdiction thereof. The
prevailing party shall be entitled to entry of an order to enforce any arbitral award in accordance with this provision. 

  
 12 

 IN WITNESS WHEREOF, this Offtake Supply Agreement has been executed and delivered as of the date
first written above. 
  

			
	Packaging Equity Holdings, LLC
		
	By:	 	 /s/ Michael Leraris 

	Name:	 	Michael Leraris
	Title:	 	Chief Operating Officer
	
	Micromidas, Inc. (dba Origin Materials) 
		
	By:	 	 /s/ John Bissell 

	Name:	 	John Bissell
	Title:	 	President

 Signature Page of 

PEH-Origin Materials Offtake Supply Agreement 

 Appendix 1: Quantities 

  
 Appendix 1 

 Appendix 2: Quality Specifications PET, PETF, PEF 

Appendix 2 

 Appendix 3: Confidentiality Agreement 

Appendix 3

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