PureCycle, iSustain Close Deal for Up To 10 million Pounds of Feedstock

ORLANDO, Fla. – March 3, 2023 – PureCycle Technologies (NASDAQ: PCT) and iSustain Recycling today, announced an agreement to source and divert up to ten million pounds of polypropylene plastic waste from landfills and waterways. iSustain is a sustainability strategist that provides comprehensive recycling solutions to eradicate waste. PureCycle and iSustain will work together to target post-use polypropylene and packaging materials that are not typically recycled.

PureCycle CEO Dustin Olson said, “This agreement is evidence of a great partnership that continues to flourish. In 2022, we teamed up with iSustain to bring sustainable recycling practices to the Plastics Recycling Conference. This deal, however, will have a lasting impact far beyond a single week event. With iSustain’s expansive network, we can use our patented recycling technology to grow beyond curbside materials and also achieve circularity with other polypropylene waste materials.”

iSustain Recycling Vice President of Business Development Mark Huber added, “PureCycle is a game-changing solution for polypropylene plastic waste. Their technology is creating new recycling markets for previously unrecyclable plastic waste. All our customers want to divert more of their plastic from landfills and meet their sustainability goals.  PureCycle offers our customers the opportunity to meet their goals and achieve true circularity while doing so.”

PureCycle uses a cutting-edge technology that can remove virtually all contaminants, colors, and odors from polypropylene plastic waste (No. 5 plastic), transforming it into an ultra-pure recycled (UPR) resin that can be used multiple times.

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PureCycle Contact

Christian Bruey

cbruey@purecycle.com

+1 (352) 745-6120

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com

iSustain Contact

Mark Huber

mh@isustainrecycling.com

(423)668-0111

iSustain Recycling Inc. is a Certified Woman Owned Business with a firm understanding of the recycling industry allowing them to provide customers with the custom-tailored programs needed to reach their environmental and circularity goals. Since 2014, iSustain’s experienced team has diverted over 1.4 billion pounds of plastics, paper, metal, and food waste from landfills by utilizing any processes available within the mechanical, advanced, re-use and waste-to-energy spaces.

iSustain partners with major plastics packaging manufacturers to not only make their products more recyclable but provide collection programs to return plastic waste back into their manufacturing processes. Implementing recycling programs for their customers to collect their plastic scrap, reprocess it and reintroduce it back to their products drives supply chain circularity and reduces our dependence on virgin resources. To learn more, www.isustainrecycling.com

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of PureCycle and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section of PureCycle’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled “Risk Factors,” those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the “SEC”) by PureCycle and the following:

● PureCycle’s ability to meet, and to continue to meet, applicable regulatory requirements for the use of PureCycle’s UPR resin in food grade applications (both in the United States and abroad);

● PureCycle’s ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPR resin and PureCycle’s facilities (both in the United States and abroad);

● expectations and changes regarding PureCycle’s strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PureCycle’s ability to invest in growth initiatives;

● PureCycle’s ability to scale and build its first commercial-scale recycling facility in Lawrence County, Ohio (the “Ironton Facility”) in a timely and cost-effective manner;

● PureCycle’s ability to complete the necessary funding with respect to, and complete the construction of its first U.S. cluster facility located in Augusta, Georgia (the “Augusta Facility”), in a timely and cost-effective manner;

● PureCycle’s ability to sort and process polypropylene plastic waste at its plastic waste prep (“Feed PreP”) facilities;

● PureCycle’s ability to maintain exclusivity under the Procter & Gamble Company license;

● the implementation, market acceptance and success of PureCycle’s business model and growth strategy;

● the success or profitability of PureCycle’s offtake arrangements;

● the ability to source feedstock with a high polypropylene content;

● PureCycle’s future capital requirements and sources and uses of cash;

● PureCycle’s ability to obtain funding for its operations and future growth;

● developments and projections relating to PureCycle’s competitors and industry;

● the outcome of any legal or regulatory proceedings to which PureCycle is, or may become a party, including the securities class action case;

● geopolitical risk and changes in applicable laws or regulations;

● the possibility that PureCycle may be adversely affected by other economic, business, and/or competitive factors;

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