PureCycle Technologies, Inc.

PureCycle Technologies, Inc. (the “ Company ”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the “ Form 10-Q ”) by the prescribed due date for the reasons described below. The Company issued a Redeemable Conditional Warrant to Recycled Resin Investors, LLC (“RTI”) on November 16, 2020 (the “RTI Warrant”) in connection with the Company’s entry into the Agreement and Plan of Merger dated as of the same date (the “Merger Agreement”). Recently, RTI began a discussion with the Company about the potential exercise of the RTI Warrants. This prompted the Company to review the quantity of the RTI Warrants disclosed in the Company’s historical financial statements, including the financial statements as of and for the fiscal quarter ended September 30, 2024. The Company continues to evaluate the potential non-cash impacts on the current and prior financial statements due to the inclusion of an additional approximately 540 thousand shares of Common Stock to be issued upon exercise of the RTI Warrants. Previously, the Company disclosed approximately 971 thousand shares of Common Stock to be issued upon exercise of the RTI Warrants at an exercise price of $5.56. As revised, approximately 1.5 million shares of Common Stock are to be issued upon exercise of the RTI Warrants at an exercise price of $3.57. The aggregate exercise consideration of $5.4 million remains unchanged. The warrant exercise price is an input into the quarterly valuation of the liability classified warrants under ASC 840, Distinguishing Liabilities from Equity

PureCycle Technologies, Inc. (the “Company”) has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Form 10-K”) by the prescribed due date for the reasons described below. On October 7, 2020, the Southern Ohio Port Authority (“SOPA”) issued certain revenue bonds (the “Revenue Bonds”) pursuant to an Indenture of Trust dated as of October 1, 2020, between SOPA and UMB Bank, N.A., as trustee (“Trustee”) (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”), and loaned the proceeds from their sale to PureCycle: Ohio LLC, an Ohio limited liability company and indirect wholly-owned subsidiary of the Company (“PCO”), pursuant to a loan agreement dated as of October 1, 2020 between SOPA and PCO (“Loan Agreement”), to be used to, among other things, acquire, construct and equip the Company’s first commercial-scale recycling facility in Lawrence County, Ohio (the “Ironton Facility”). On February 10, 2024, PCO reached an agreement in principle with holders of a majority (the “Majority Holders”) of the SOPA Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020A (the “Series 2020A Bonds”), to purchase bonds held by the Majority Holders, as well as additional holders of the Series 2020A Bonds, the SOPA Subordinate Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020B (the “Series 2020B Bonds), and the SOPA Subordinate Exempt Facility Revenue Bonds (PureCycle Project), Taxable Series 2020C (the “Series 2020C Bonds” and, together with the Series 2020A Bonds and the Series 2020B Bonds, the “Bonds”). On February 23, 2024, PCO and the Majority Holders reached agreement on the form of Bond Purchase Agreement and Consent (“Purchase Agreement”) and Third Supplemental Indenture related to the purchase of the Bonds (the “Purchase”)

PureCycle Technologies, Inc. (the “Company”) has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Form 10-K”) by the prescribed due date for the reasons described below. On October 7, 2020, the Southern Ohio Port Authority (“SOPA”) issued certain revenue bonds (the “Revenue Bonds”) pursuant to an Indenture of Trust dated as of October 1, 2020, between SOPA and UMB Bank, N.A., as trustee (“Trustee”), and loaned the proceeds from their sale to PureCycle: Ohio LLC, an Ohio limited liability company and indirect wholly-owned subsidiary of the Company (“PCO”), pursuant to a loan agreement dated as of October 1, 2020 between SOPA and PCO (“Loan Agreement”), to be used to, among other things, acquire, construct and equip the Company’s first commercial-scale recycling facility in Lawrence County, Ohio (the “Ironton Facility”). Under the terms of the Loan Agreement, the Company was required to cause the Ironton Facility to be completed by December 1, 2022 (the “Outside Completion Date”). The Ironton Facility was not completed by the Outside Completion Date due to challenges resulting from, among other things, delays in the delivery of critical components, shortages of material, equipment or labor, increased costs and general supply chain issues, each as a result of the COVID-19 outbreak and the ongoing military conflict between Russia and Ukraine, and certain U.S. weather-related events

PureCycle Technologies, Inc. (the “ Company ”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the “ Form 10-Q ”) by the prescribed due date for the reasons described below. On April 12, 2021, the Staff of the U.S. Securities and Exchange Commission (the “ SEC ”) issued the “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “ SEC Statement ”), which clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. Following review of the SEC Statement, the Company reevaluated the accounting treatment of its public warrants (the “ Public Warrants ”) and private warrants (the “ Private Warrants ” and, together with the Public Warrants, the “ Warrants ”) as equity, and concluded that, based on the SEC Statement, the Private Warrants should be classified as a liability measured at fair value, with non-cash fair value adjustments recorded in earnings at each reporting period. The Company is currently determining the extent of the SEC Statement’s impact on its financial statements, including the financial statements as of and for the fiscal quarter ended March 31, 2021 included in the Form 10-Q. The Company is working diligently to complete the Form 10-Q as soon as possible; however, given the scope of the process for determining the appropriate treatment of the Warrants in accordance with the SEC Statement, the Company was unable to complete and file the Form 10-Q by the required due date of May 17, 2021 without unreasonable effort and expense. The Company does, however, expect to file the Form 10-Q on or before the fifth calendar day following the prescribed due date