HONG KONG SAR - Media OutReach - 20 May 2021 - SEAL, a Hong Kong-based waste plastic recycling company, has signed a Memorandum of Understanding (MoU) with Dow (NYSE: DOW), one of the largest producers of polyethylene and specialty resins worldwide, to produce Post-Consumer Recycled (PCR) resin based e-commerce packaging. An official MoU signing ceremony was held on 14^th May at SEAL's flagship recycling facility in Fanling in the presence of key representatives, stakeholders and strategic partners from both parties, as well as the Ravago Group, a leading European plastic products manufacturer and one of Dow's channel partners in Asia Pacific.

The main representatives, stakeholders and strategic partners of both parties of this MoU: (from the left) Mr. Pak Kwan, Commercial Director of Ravago Group, Mr. David So, Chairman of SEAL, Mr. Lawrence Cheung, Senior Sales Director for Greater China of Dow Chemical Pacific Limited, Mr. Jason Chan, Sustainability Marketing Manager for Packaging and Specialty Plastics, Asia Pacific of Dow Chemical Pacific Limited, and (on the screen) Mr. Bambang Candra, Asia Pacific Commercial Vice President for Packaging & Specialty Plastics of Dow Chemical Pacific Limited.

Under the terms of the MoU, SEAL and Dow's collaboration will produce PCR resin based e-commerce packaging in Asia Pacific, offering sustainable courier bag solutions to top global e-commerce players. This will help to increase the recycled content of their packaging, a major step in achieving their sustainability targets. In addition, SEAL is also using Dow's compatibilizer modification solutions in their effort to recycle plastic hangers waste the company collects, and designing new products with recyclability in focus.

Speaking at the signing ceremony, Mr. Bambang Candra, Dow's Asia Pacific Commercial Vice President for Packaging & Specialty Plastics, said: "This MoU is very meaningful in the Asia Pacific market because three of the top 10 ecommerce markets in the world are in this region. By using recycled content while maintaining packaging's functional performance, every package delivered keeps plastics in the economy and out of the environment. This collaboration is in line with Dow's 2035 sustainability target to close the loop by enabling 100% of Dow products sold into packaging applications to be reusable or recyclable."

Mr. David So, Chairman of SEAL, said: "SEAL was founded in 2020 by our parent company China Eco-farming (HKEX: 8166), an investment holding company providing one-stop value chain services in Greater China. Their current projects on carbon offset and carbon neutrality fall in line with the latest policy address by President Xi Qinping at the 14th five-year plan (2021-2025). SEAL initially started with the recycling of used hangers made of Polystyrene and Polypropylene. As an ambitious company, our vision is to expand our recycling projects through application and material bases, including recycling LDPE (Low Density Polyethylene) from courier bags, HDPE (High Density Polyethylene) from water buckets, nylon materials from electrical appliances and PVB from glass lamination. Our recycling collaboration with Dow allows us to introduce the first PCR plastics into the manufacturing of courier bags at our packaging facility in Dongguan, which is intended to meet the sustainability commitment of the Fortune Top 50 e-commerce enterprises."

SEAL's flagship site in Fanling handles and treats nearly 36,000 metric tons of worldwide waste and recyclables annually. It houses the largest shredder in Hong Kong to separate the metal parts from consume plastic waste like hangers and shred the plastic into small pieces for further processes. In addition, SEAL's in-house laboratory provides tests of the separated materials, results of which help determine the recycling blending formula and ensure quality control of the final production of plastic pellets.

SEAL will continue exploring collaboration with different entities, including private companies and NGOs to establish partnerships, all aims at expanding SEAL's sources of secure and sufficient plastic waste, increasing the recycling capacity, as well as ensuring a larger variety of plastics, such as PE (Polyethylene), PET (Polyethylene terephthalate) for recycling.

Community education is among the key initiatives SEAL currently is undertaking to promote the awareness of the plastic recycling industry in Hong Kong. Through site visits for schools, young generations will have the opportunity to learn about the plastic recycling processes and recoverable materials, as well as SEAL's sustainable initiatives and solutions to plastic waste related issues.

"I believe SEAL's vision is in line with Hong Kong's long-term strategic plan for a more circular economy. We are immensely proud of our plastic recycling-based industrial production here in Hong Kong in such a sustainable manner," Mr. So concluded.

All guests attending the MoU signing ceremony were given a special souvenir Prince Seal, which is one of SEAL's first recycled products. He represents the importance of plastic recycling in alleviating pollution on the earth's ecosystems. Prince Seal is not just a toy; it is made of 25% recycled products symbolizing the possibility of producing PCR products appreciated by us all.

Link to Event Photos:

https://drive.google.com/drive/folders/1FnGkxhXrFcAjQ7b9nXWBO3pOBA-rhr0U?usp=sharing

Photo Captions:

1)Mr. Pak Kwan, Commercial Director of Ravago Group is giving a plant tour to guests before the event commenced.

2)Mr. David So, Chairman of SEAL is making opening remarks at the ceremony.

3)Mr. Bambang Candra, Asia Pacific Commercial Vice President for Packaging & Specialty Plastics of Dow Chemical Pacific Limited is giving speech at the ceremony through video conferencing.

4)The main representatives, stakeholders and strategic partners of both parties of this MoU: (from the left) Mr. Pak Kwan, Commercial Director of Ravago Group, Mr. David So, Chairman of SEAL, Mr. Lawrence Cheung, Senior Sales Director for Greater China of Dow Chemical Pacific Limited, Mr. Jason Chan, Sustainability Marketing Manager for Packaging and Specialty Plastics, Asia Pacific of Dow Chemical Pacific Limited, and (on the screen) Mr. Bambang Candra, Asia Pacific Commercial Vice President for Packaging & Specialty Plastics of Dow Chemical Pacific Limited.

5)The MoU Signing Ceremony wrapped up with great success. Group photo of key representatives, stakeholders, strategic partners, and all participants.

About Dow

Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

About SEAL

Seal Eco Advance Limited (SEAL) is a recycling company established in 2020. The company's recycling facilities in Hong Kong collect waste plastics and recycle them into useful and sustainable raw materials and products. SEAL's flagship site is situated in Fanling, Hong Kong, handling and treating nearly 36,000 metric tons of the globe's waste and recyclables annually. The site includes a Waste to Classification and Cleaning Process, a Waste Recycling Centre and a Recycling Education Centre. SEAL's mission is to collect waste from the governments, NGOs, firms and households, recycling away from landfill efficiently and responsibly producing recycling products from the waste, which in turn help different parties to reduce carbon footprint and save our Mother Earth. For more information, please visit www.seal.com.hk

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