Slide 1: First Quarter 2023 Corporate Update
First Quarter 2023 Corporate Update May 9, 2023 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this Presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including
Slide 3: 1Q Update: Ironton and Future Growth
1Q Update: Ironton and Future Growth IRONTON GROWTH FINANCE • Ironton is mechanically complete, • Working toward agreement with AEDA • Secured $62M of non-dilutive debt certified by independent engineer to begin activities in Augusta. financing and have additional PreP Preparing modules for construc
Slide 4: Ironton is Mechanically Complete
Ironton is Mechanically Complete Key Pre-startup and Safety requirements are complete Utility plant operational and in service PreP operational and in service Flare systems operational and in service Extruder commissioning complete All pressure testing complete Solvent delivered to site 4
Slide 5: Path to Pellets
Path to Pellets Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Mechanical Completion Delays Due to Mechanical Completion • Extended low voltage activities • OSBL piping & engineering corrections First Pellet Production Delays Due to • Extended Pressure Test First Pellet Production • Extended Extrusion
Slide 6: PCT Long Term Growth Continues to Progress
PCT Long Term Growth Continues to Progress Augusta Initiated OSBL engineering Progressed ISBL engineering to ~90% complete Preparing modules for construction in Beaumont, TX Belgium Initiated engineering work to support permitting process South Korea Advanced engineering to maintain schedule and pri
Slide 7: 1Q23 Liquidity and Changes from Prior Quarter - Actual
1Q23 Liquidity and Changes from Prior Quarter - Actual Unrestricted Cash (IN MILLIONS) Dec 31, 2022 Mar 31, 2023 change Changes Cash and Cash Equivalents $63.9 $38.4 $(25.5) • Bondholder Waiver agreement Debt Securities Available for Sale 98.6 - (98.6) • $50.0M moved to restricted cash for General L
Slide 8: Capital Raise Strategy and Details
Capital Raise Strategy and Details • Manage cash burn rate until Ironton is operational Goals • Maintain financial flexibility and optionality for PCT’s long term capital structure • Seek lower cost project finance capital for growth projects • Near term: focused on equipment financing and capital o
Slide 9: PureCycle Q1 Highlights
PureCycle Q1 Highlights 1 Ironton is mechanically complete, pre- startup operations have commenced 5 Preparing Augusta modules for construction in Beaumont, TX 2 Ironton is now functioning as a PSM facility; Solvent is on site and prepping for circulation 6 Initiated EU engineering which will set ti