Ecolomondo Corporation has signed an agreement (?Restructured Loan?) to restructure its original loan agreement (?Loan?) with Export Development Canada (?EDC?). The original Loan was for an amount of $32.1 million in project financing with EDC, executed on April 3, 2019, to finance the construction of the Company?s first of its kind new turnkey thermal decomposition facility in the Town of Hawkesbury, Ontario (the ?Hawkesbury facility?) to process end-of-life tires to produce re-usable resources. The Restructured Loan will have a maturity date of May 2029 and caps the interest rate at 8.5%.

Capital and interest payments will begin May 1, 2024, and be repaid in quarterly installments of principal and interest based on a twenty-five-year amortization. Accumulated interest on the Loan until May 1, 2024, will be capitalized to the Loan without additional interest if both the Loan and the accumulated interest are paid back by the maturity date. This Restructured Loan facility will allow the Company to work through the final steps to bring the Hawkesbury TDP facility to full commercial operations, expected by May of 2024.