First Quarter 2025 Corporate Update May 7, 2025 Confidential Information. Do Not Distribute. 11 Confidential Information. Do Not Distribute. Forward-Looking Statements This press release contains forward-looking statements, including statements about the continued execution of PureCycle's business plan, the expected results of tests and trials, the expected timing of commercial sales, and planned future updates. In addition, any statements that refer to projections, forecasts or other characterizations of f ...

Financial Data and Key Metrics Changes - The company ended the fourth quarter with just under $16 million of unrestricted cash and raised $33 million in February through subscription agreements [38][39] - Cash expenses for Q4 totaled $68 million, including $36 million for equipment related to growth projects, resulting in adjusted cash expenses of around $27 million [40][41] Business Line Data and Key Metrics Changes - The company compounded approximately 4 million pounds of material for fiber applications in Q4, leading to a purchase order from Drake extrusion [20][21] - The company is engaged in over 29 trials with potential customers, with 16 on an industrial scale, indicating significant demand potential [23] Market Data and Key Metrics Changes - The potential market for recycled polypropylene is enormous, with the virgin market expected to exceed 200 billion pounds globally, while less than 1% of polypropylene is currently recycled [8][9] - The rigid packaging market in North America is approximately 3.8 billion pounds per year, representing a significant opportunity for the company [24] Company Strategy and Development Direction - The company is pursuing a vertically integrated strategy that connects the purchase of bales to the sale of compounded material, aiming to control its destiny in a nascent feedstock market [11][12] - The company is focused on expanding its technology globally, aiming to become one of the world's first vertically integrated global recycling companies [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational progress at Ironton, with expectations of moving toward nameplate capacity and improved reliability [33][34] - The company anticipates that successful customer trials will accelerate the need for global expansion due to increasing demand [24] Other Important Information - The company is in the process of acquiring third-party certification for £7.2 million of finished product in inventory, expected to be received by the end of Q1 [14] - The company has a strong relationship with Procter and Gamble, with ongoing industrial trials for five different applications [17][18] Q&A Session Summary Question: Can you elaborate on the confidence regarding the commercial ramp? - Management highlighted the excitement from successful customer trials, particularly with Drake, which boosts confidence in their ability to meet customer needs [44][45] Question: Can you comment on the current cash position and financing plans? - The company ended Q4 with $15 million of unrestricted cash and raised $33 million in February, with plans to sell revenue bonds to enhance liquidity [46][47] Question: What are the current unit economics? - Management stated that sales prices remain strong at $1.36 per pound, with good variable cost components and feedstock flexibility contributing to favorable unit economics [52][55] Question: Can you discuss future growth projects and timelines? - The company is ready to move forward with growth projects, having purchased long lead equipment and maintaining good relationships for expansion in Europe and Asia [59][60] Question: What is the production capability and how does it relate to customer qualifications? - Management indicated that production levels are not a limiting factor; rather, the focus is on meeting specific customer requirements through tailored production [66][67]