Danimer Scientific Invited into Due Diligence and Term Sheet Negotiation Phase for a Federal Financing Bank Loan and DOE Loan Guarantee

Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today that its subsidiary, Meredian Bioplastics, Inc. (“Meredian”), has been invited by the U.S. Department of Energy’s (“DOE’s”) Loan Programs Office (“LPO”) into the due diligence and term sheet negotiation process (“Due Diligence”) of the DOE’s Title XVII Loan Guarantee Program.

The LPO’s invitation follows the successful submission and review of the Company’s Part II Application for Meredian’s proposed bioplastics manufacturing facility which the Company intends to build in Bainbridge, Georgia, and is based on LPO’s determination that the Project is highly qualified and suitable for a loan guarantee.

Due Diligence encompasses detailed confirmatory review which may result in term sheet negotiations with the Company. If successful, a U.S. Department of the Treasury’s Federal Financing Bank (FFB) loan guaranteed by the DOE would assist funding the Company’s capacity expansion efforts to bring increased volumes of PHA and PHA-based resins to the marketplace. Completion of Due Diligence could ultimately result in a conditional commitment and final FFB loan guaranteed by the DOE. However, there can be no assurance that the DOE will issue a conditional commitment or a loan guarantee or that the Company will be able to secure a guaranteed loan on terms that are satisfactory to the Company. The foregoing matters are wholly dependent on the results of the Due Diligence and the LPO’s determination of whether to proceed.

Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer, commented, “We are pleased to have been successful in our Part II application leading to the DOE’s invitation into the Due Diligence phase for a loan guarantee. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world and is deeply appreciative to the LPO team for their expression of support for our mission to reduce plastic waste in the environment. We look forward to continuing to build our relationship with the LPO team and to working closely with them throughout the Due Diligence process.”