Slide 1: Investor Presentation
Investor Presentation August 2025 | NASDAQ: HDSN RECLAIMED ON-SITE REFRIGERANT REFRIGERANT END-OF- REFRIGERANT SERVICE LIFE MANAGEMENT
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Slide 3: Nationwide Presence
NATIONWIDE PRESENCE One of the largest reclaimers in the U.S. 7,000+ Handles >300,000 cylinders per year customers Champaign, Illinois 40+ facilities & stocking points 3 Atlanta, Georgia carbon neutral Ontario, California reclamation facilities Only 1 of 6 AHRI certified laboratories in the country
Slide 4: Building a Diversified Refrigerant Solutions Platform
BUILDING A DIVERSIFIED REFRIGERANT SOLUTIONS PLATFORM 35 Years Developing Refrigerant Technology and Driving Growth 2024 2022 2017 Acquires USA 2014 Refrigerants 2006 Enters into Acquires partnership Acquires Polar Airgas with AprilAire 1994 Gains AHRI Technologies’ Refrigerants 1993 laboratory Recl
Slide 5: Uniquely Positioned in the Market
UNIQUELY POSITIONED IN THE MARKET Unparallelled Nationwide Sales Network ➢ Large Two-Step Network of Wholesale distributors ➢ Extensive Direct to Consumer Network of contractors, supermarkets, chemical plants, data centers, etc…. One of Largest Used Refrigerant Recovery and Reclamation Operators (Ci
Slide 6: Refrigerant life cycle management solutions
Our commitment to environmental stewardship Service Sales is core to everything we do. We provide environmentally sustainable refrigerant Life Cycle Management solutions including: Reclaim Buyback ➢ Selling an extensive mix of virgin and reclaimed refrigerants ➢ Recover and reclaim used refrigerants
Slide 7: We sell an extensive mix of virgin and reclaimed refrigerants
Service Sales We sell an extensive mix of Reclaim Buyback Virgin & Reclaimed Refrigerants Recovery 7
Slide 8: Comprehensive Product Selection
COMPREHENSIVE PRODUCT SELECTION CURRENTLY IN PROCESS OF 3RD EPA REFRIGERANT PHASE DOWN ➢ Our broad refrigerant portfolio includes: • Legacy CFCs (Freon): 1 st EPA Phasedown • HCFCs: 2nd EPA Phasedown • HFCs: Current and 3 rd EPA Phasedown • HFOs: Next Generation Lower GWP Refrigerant ➢ EMERALD Refri
Slide 9: Strategically Positioned in Refrigerant Supply Chain
STRATEGICALLY POSITIONED IN REFRIGERANT SUPPLY CHAIN Longstanding and Diverse Customer Relationships • Industrial Facilities • Residential Homes Direct to • OEMs Direct to • Light Commercial • 24/7 Cooling Needs Wholesalers Customers Buildings - Supermarkets - Chemical & Mfg Plants Wholesaler & End
Slide 10: Recover and Reclaim Used Refrigerants in the Aftermarket
Service Sales Recover and Reclaim Used Reclaim Buyback Refrigerants in The Aftermarket Recovery 10
Slide 11: Leader in U.S. Refrigerant Recovery and Reclamation
LEADER IN U.S. REFRIGERANT RECOVERY AND RECLAMATION ➢ Ability to recover and reclaim all types of refrigerants ➢ HDSN is in a small group of companies with both recovery and reclamation HUDSON IS capabilities STRATEGICALLY ➢ Diverse circular customer POSITIONED TO network provides HDSN vast access t
Slide 12: Industry Transitioning to Lower GWP Refrigerants
INDUSTRY TRANSITIONING TO LOWER GWP REFRIGERANTS Climate Directed Evolution Driving Refrigerant Industry Phase Outs AIM Act Phased Out 1996 Phased Out 2019 Current Phase Down Next Generation CFC HCFC HFC HFO Hudson has played Chlorofluorocarbons Hydrochlorofluorocarbons Hydrofluorocarbons Hydrofluor
Slide 13: AIM Act Mandates Virgin HFC Phasedown; Driving Demand for Reclaimed HFCs
AIM ACT MANDATES VIRGIN HFC CONSUMPTION PHASEDOWN; DRIVING DEMAND FOR RECLAIMED HFCs EPA Implementing Unprecedented Virgin Refrigerant Step Down Baseline allowances will be reduced 85% by 2036 13
Slide 14: RMI Report Defines Benefits of Reclamation
ROCKY MOUNTAIN INSTITUTE (RMI) REPORT DEFINES BENEFITS OF RECLAMATION ➢ Refrigerant reclamation can reduce lifecycle greenhouse gas emissions by up to 70% per pound versus producing and using newly manufactured ➢ Maximizing refrigerant reclamation to service ACHP equipment for U.S. homes can avoid 7
Slide 15: State Regulatory Actions Support Reclamation
STATE REGULATORY ACTIONS SUPPORT RECLAMATION Several states have adopted or proposed legislation that supports growth in reclamation with more expected to follow California New York Washington Adopted Senate Bill 1206 in September 2022 ➢ NYDEC Final Part 494 prohibits ➢ Implemented Chapter 173-443 i
Slide 16: Hudson's Opportunity: Bridging the Supply Gap
HUDSON’S OPPORTUNITY: BRIDGING THE SUPPLY GAP Current State Hudson’s Opportunity ➢ U.S. currently has an installed base of ~125 ➢ Bridge the gap in HFC supply and demand with million Stationary HFC units with 15+ years of reclaimed refrigerant remaining useful life ➢ Build on reclaimed HFC refrigera
Slide 17: Service Chillers, Industrial Process Cooling, Commercial Refrigeration
Service Sales Service Chillers, Industrial Reclaim Buyback Process Cooling, Commercial Refrigeration Recovery Equipment 17
Slide 18: Proprietary On-Site Refrigerant Equipment Services
PROPRIETARY ON-SITE REFRIGERANT EQUIPMENT SERVICES The ZugiBeast®, named after our founder Kevin Zugibe, is a unique patented portable reclamation system for on site refrigerant equipment service ➢ ONLY reclamation equipment that can go through a standard doorway into industrial settings ➢ Nationwid
Slide 19: Pursuing Strategic Relationships
PURSUING STRATEGIC RELATIONSHIPS ➢ Attractive contractor economics; ➢ Enabling the reduction of Hudson pays contractors for waste and greenhouse gas recovered refrigerant emissions OEM Contractor ➢ Agreements with Lennox, April ➢ Increasing contractor awareness Aire and LG Air Conditioning Partnersh
Slide 20: Three Pillars Capital Allocation Strategy
THREE PILLARS CAPITAL ALLOCATION STRATEGY Organic Growth Acquisitions Share Repurchase 20
Slide 21: 2024 USA Refrigerants Acquisition
2024 USA REFRIGERANTS ACQUISITION ➢ Long-term purchasing relationships with ACCA members and other industry groups Acquisition expands sourcing of higher ➢ Extensive network of independent representatives with expertise in refrigerant margin recovered sourcing refrigerants ➢ Establishes a new, dedic
Slide 22: Financial Snapshot
FINANCIAL SNAPSHOT Long-Term Revenue Performance De-Levered Balance Sheet and Growing Cash Position 300 ($ in millions) ($ in millions) 225 100 75 150 50 75 25 0 0 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 6/30/25. Long-term debt Cash Particularly strong revenue and profitability in 2022 and 2023
Slide 23: Summary
SUMMARY Diverse business model Leading provider of sustainable Largest independent source leverages multiple sales, refrigerant solutions for virgin and reclaimed reclamation and servicing refrigerants channels Proven success supporting Nationwide presence with Strong unlevered balance prior refrige
Slide 24: NASDAQ: HDSN
NASDAQ: HDSN RECLAIMED ON-SITE REFRIGERANT REFRIGERANT END-OF- REFRIGERANT SERVICE LIFE MANAGEMENT