A condensation type reaction has been studied for reactive extrusion in a twin-screw extruder. The esterification reaction is to graft a nonylphenyl-ethoxylate (NP8) onto a pre-maleated ethylene-propylene (EPR(MA)). The kinetics were initially characterized in the static mixture using a thermally controlled cell in a FTIR spectrometer. These were then used to predict the conversion along the length of the extruder screws, having determined the residence time distribution at various sampling locations. A reasonable fit with the data was obtained, although the kinetics seem to be slightly faster in the flowing medium than those predicted. Over short screw distances, the equilibrium rapidly approached equilibrium. Moreover, the NP8 was shown to penetrate the EPR(MA) within screw distance of less than 1.3 L/D, despite using conveying elements known for their minimal mixing capacity. Within the molten medium, a mixing model showed that obtaining the expected conversion in a product does not imply that the reactants in the product have in fact been well mixed.