PureCycle Technologies Provides Third Quarter 2022 Update

-PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet production in the first quarter of 2023.

-Closed on offtake agreements representing 106.0 million pounds of ultra-pure recycled ("UPR") resin bringing total signed offtake agreements to 111% of nameplate capacity for Augusta lines 1 and 2.

-Finalized its Joint Venture Agreement with SK geo centric to develop a purification facility in Ulsan, South Korea.

-Financing to fund Augusta's first two purification lines and three East Coast preprocessing ("PreP") facilities targeted for completion by year-end with PureCycle evaluating scenarios with the objective of maintaining optionality in its capital structure as it moves to operational revenue in 2023.