Slide 1: Clean & Sustainable Destruction of Organic Waste – Third Quarter 2025
Clean & Sustainable Destruction of Organic Waste Third Quarter 2025 Strategic and Commercial Update and Financial Results Conference Call NASDAQ: SCWO Investor Presentation November 12, 2025 ©2025 374Water Inc. All Rights Reserved. This document and the information set forth herein are the property
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation and various remarks we make during this presentation contain “forward-looking statements” of 374Water Inc. (“374Water,” “the Company,” “we,” “our” or “us”), which include information relating to future events, future financi
Slide 3: Agenda
Agenda On the Call Today: COMPANY OVERVIEW OPERATIONAL UPDATES WDS & RECURRING REVENUE Stephen J. Jones Interim President and CEO FINANCIAL HIGHLIGHTS BUSINESS POTENTIAL AT SCALE CLOSING SUMMARY Russell Kline Chief Financial Officer 2
Slide 4: Corporate Overview
Corporate Overview 374Water is a global industrial technology and services company providing innovative solutions for organic waste destruction and treatment within Industrial, Municipal and Federal markets. ● Proprietary AirSCWO (AS) System is designed to destroy non-hazardous and hazardous organic
Slide 5: Q3 2025 and Subsequent Operational Highlights & Business Updates
Q3 2025 and Subsequent Operational Highlights & Business Updates 374Water is executing on multiple revenue growth opportunities, deploying AirSCWO technology solutions across markets, and scaling the organization ● Announced a WDS collaboration agreement focused on ● Began processing the first phase
Slide 6: Unlocking WDS & Recurring Revenue
Unlocking WDS & Recurring Revenue We offer multiple AirSCWO deployment models to meet our customers’ waste destruction needs. On-site Permanent Off-site TSDF On-site Mobile Destruction Operations Destruction Operations Destruction Operations For clients that consistently produce a 374Water and TSDF
Slide 7: Waste Destruction Services – Potential for Recurring Revenue
Waste Destruction Services – Potential for Recurring Revenue1 374Water intends to establish TSDF WDS operations throughout North America, with our first facility in mid 2026. We also intend to build a mobile WDS fleet, with first AS1 deployable in late 2025. AS 1 – Mobile Services AS 6 – TSDF Facili
Slide 8: Third Quarter 2025 Financial Highlights
Third Quarter 2025 Financial Highlights Three Months Ended September 30 $ in Millions 2025 2024 Revenue $ 0.8 $ 0.08 Gross Profit (Deficit) $ 0.2 $ (0.04) Compensation Expenses $ 2.1 $ 1.2 SG&A Expenses $ 1.5 $ 0.6 R&D Expenses $ 0.8 $ 0.4 Sept 30, 2025 Dec 31, 2024 Cash and Cash Equivalents $ 0.9 $
Slide 9: 374Water's Business Potential at Scale
374Water’s Business Potential at Scale1 Launch and Growth of WDS to drive recurring revenues $ in Millions 2024 2025 2026 2027 2028 2029/2030 Revenue2 $0.4 $4 $6-8 Sales/Lease/WDS2 1 3-5 6-8 10-12 15-20 25-30 Markets/Sectors Municipal Municipal Municipal Municipal Municipal Municipal Federal Federal
Slide 10: Closing Summary
Closing Summary Continuous Improvement Focus 1 Improving throughput on AirSCWO units 2 Currently making important upgrades to AirSCWO units and improving our manufacturing facilities 3 Focus resources where we can be most successful AirSCWO Waste Destruction Systems 4 Opportunities that are nearest
Slide 11: 374Water.com – Contacts and Q&A
Clean & Sustainable Destruction of Organic Waste NASDAQ: SCWO Company Investor Relations Jim Siccardi Chris Tyson SVP, Investor Relations Executive Vice President 374Water MZ North America Direct: 984-374-1222 Direct: 949-491-8235 Jim.Siccardi@374water.com SCWO@mzgroup.us www.374Water.com www.mzgrou
Slide 12: Assumptions, Estimates and Uncertainties Underlying Business Potential at Scale
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” All of the information included on the slide titled, “374 Water’s Business Potential was developed in good faith by 374Water’s management based on the best information available,
Slide 13: Assumptions, Estimates and Uncertainties (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • 374Water is able to successfully provide waste destruction services to clients, beginning with its AS6 unit and then transitioning its AS30 unit. • 374Water successfully
Slide 14: Assumptions, Estimates and Uncertainties (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • 374Water’s costs are not materially impacted by tariffs and other similar trade policies, changes in laws and regulations, etc. (possible impacts from tariffs and relate
Slide 15: Assumptions, Estimates and Uncertainties (cont.)
Assumptions, Estimates and Uncertainties Underlying the Information Included in “374Water’s Business Potential at Scale” (cont.) • With respect to new products and AS units that have not already been manufactured, that the design work required for all such future AS units and products are timely and