Ecolomondo Corporation has reached an agreement in principle to restructure its original loan agreement with Export Development Canada. 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") that will process end-of-life tires to produce re-usable resources. In order to give the parties time to finalize documentation for the restructuring of the Loan, EDC has agreed to postpone principal and interest payments to December 29th, 2023.

Subject to the execution of final documentation, which is expected to be completed by mid-December, 2023, the Loan is to be restructured with the interest rate capped at 8.5%, capital principal and interest payments postponed until May of 2024, with the original Loan to then be repaid in quarterly instalments of principal and interest based on a twenty-five year amortization, and the final balance and all capitalized interest will be repayable when the Loan matures in May of 2029. This restructured Loan facility will allow the Company to work through the final steps to bring the new Hawkesbury TDP facility to commercial operations. Once fully operational, this facility is expected to process 1.3M of scrap tires per year and produce 8.7M lbs of recovered carbon black, 34,608 barrels of oil, 2.9M lbs of steel, and 2.6M lbs of process gas.

Processing capabilities for the Shamrock facility is projected at 5.5M per year of end-of-life tires, yielding approximately 35.1 million lbs of recovered carbon black, 128,100 barrels of oil, 11.9 million lbs of steel, and 10.6 million lbs of process gas. Processing capabilities for the Shamrock facility are projected at 5.5 million per year of end- of end-of-life tire, yielding approximately 35.1M lbs of recovered carbon black; 128,100 barrels of oil; 11.9M lbs of steel; and 10.6M lbs of syngas; roughly three times the size of the Company's Hawkesbury (Ontario) plant output. Facility construction is expected to begin by the third quarter of 2024 with completion expected by the end of the fourth quarter of 2025.

Projected cost to build is approximately USD 93 million. Ecolomondo's mission is to be a contributing participant in a dynamic Circular Economy and to increase shareholder value by producing and supplying large quantities of recovered resources to be re-used in the manufacture of new products. Ecolomondo's vision is to be a leading producer and reseller of recovered resources by building and operating TDP facilities, strategically located in industrialized countries, close to feedstock, labor and offtake clients.

strategy is to become a major global builder and operator of TDP turnkey facilities, for now specializing in the processing of ELTs. intent is to expand aggressively in North America and Europe.