ECOLOMONDO RELEASES ITS INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30 2024

Montreal, QC, November 28, 2024 — Ecolomondo Corporation (TSXV: ECM) (OTCQB: ECLMF) (the “Company” or “Ecolomondo”), a leading innovator in sustainable tire recycling technology, announces that it has released its unaudited consolidated financial statements and notes thereto and its related management discussion and analysis (“MDA”) for the three-month and nine-month periods ended September 30, 2024 (the “Interim Financial Statements”). The documents are available on SEDAR at www.sedar.com

Highlights of the unaudited consolidated financial statements for the interim period ended September 30, 2024, are:

The Company had sales of $409,682 in 2024, including $173,837 in the third quarter, all generated from the sales of end-products and tipping fees, resulting in a cumulative increase of 167% compared to 2023;
As of September 30, 2024, capital expenditures for the Hawkesbury TDP turnkey facility totaled $47,897,206, compared to $44,554,339 as of December 31, 2023, net of depreciation.

During the third quarter of 2024, the Company undertook several important goals in financing, operations and corporate governance. On July 18, 2024, the Company announced the conclusion of final documentation for the loan of $3 million from Export Development Canada (“EDC”), destined to improve the Hawkesbury subsidiary’s cash position and pay for additional equipment needed to help bring the Hawkesbury plant to commercial operation.

On July 26, 2024, the Company announced the closing of a previously announced non-brokered private placement for gross proceeds of C$506,660.04. In addition, in September 2024, the Company was allowed to modify the conditions of 3,076,922 warrants issued pursuant to a Company’s private placement closed on September 24, 2021: the expiry date is extended by an additional 2 years to September 24, 2026, and the exercise price is reduced from $1.00 to $0.24.

In July 2024, the Company ordered the new carbon black milling equipment, which has been shipped on November 26, 2024. It is expected to be delivered in early January 2025, and installed during the months of January and February 2025 while commissioning is to begin in late February 2025.

During the third quarter of 2024, the Company continued to hire qualified operators, mechanics, supervisors and general workers, and it kept improving its tire shredding and TDP output, having recently achieved a processing capacity of over 15 short tons

of crumb rubber in an 8-hour shift, which would provide enough crumb rubber to supply TDP reactors at projected payloads of 15,000 lbs per batch for over 2 batches per reactor per day.

During the third quarter, Mrs. Lynn Côté, well known as a cleantech professional and in cleantech financing, joined the Company as Director, and Mr. Jean-François Labbé, an executive with Ecolomondo since 2013 and its current Chief Operating Officer, was appointed Interim Chief Executive Officer.

About Ecolomondo Corporation

Ecolomondo Corporation, headquartered in Québec, is a Canadian cleantech company that takes pride in its proprietary Thermal Decomposition technology (TDP). It has a 25-year history and during this time has been focused on its development of its technology and the deployment of TDP turnkey facilities. TDP recovers high value re-usable commodities from scrap tire waste, notably rCB, oil, syngas, fiber and steel. Ecolomondo expects to be a leading player in the cleantech space and be an active contributor to the global circular economy. Ecolomondo trades in Canada on the TSX Venture Exchange under the symbol (TSXV:ECM) and in the United States under the symbol (OTCQB:ECLMF). To learn more, visit www.ecolomondo.com

About the Hawkesbury Plant – A 2-Reactor TDP Facility

The Hawkesbury facility building is 46,200 sq.ft and has an indoor clearance of 28 feet. It is state-of-the-art and houses 3 main production departments, tire shredding, thermal decomposition and recycled carbon black refining. Once fully operational, this facility is expected to process over 1.5M of scrap tires per year and produce 4,500 MT of recovered carbon black, 5,400 MT of oil, 2,250 MT of steel, and to process 1,350 MT of process gas.

About the Shamrock Project – A 6-Reactor TDP Facility

Processing capabilities for the Shamrock facility is projected at 5 million end-of-life tires per year, yielding approximately 15,000 MT of recovered carbon black, 18,000 MT of oil, 7,500 MT of steel, and to process 4,500 MT of syngas; roughly three times the size of the Company’s Hawkesbury (Ontario) plant output that is expected to soon commence regular commercial operations. Facility construction is expected to begin by the third quarter of 2025 and projected to cost approximately US$93 million.

Our Mission, Vision & Strategy

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.

Our strategy is to become a major global builder and operator of TDP turnkey facilities, for now specializing in the processing of ELTs. Our intent is to expand aggressively in North America and Europe. Our experience and modular technology should help us get

there faster and better. We plan to keep performing ongoing research and development to ensure that Ecolomondo remains technologically advanced.

ISCC Certification

A confirmation of the Company’s successful process lies in the recent International Sustainability and Carbon Certification (“ISCC”) for its Hawkesbury TDP facility, another step forward that should help improve demand for TDP. ISCC is a Global Sustainability Certification System and offers chain-of-custody certification systems to ensure traceability and feedstock identity, which can add commercial value to the Company’s end-products as they remain traceable in the supply chain.

ISO Certification

The Company has obtained ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certification of its Integrated Management System (IMS), which acknowledges Ecolomondo’s commitment for quality, environmental impact and health and safety at work.

Environmental, Social & Governance (ESG)

On the social aspect the Company plans to measure global health and safety, injury rate and gender diversity, and finally in the corporate governance aspect, the Company is measuring ethics and anticorruption, ESG reporting and board independence.

About TDP

The TDP process is technically proven and more advanced than most other pyrolysis technologies. Over the years, our Technological teams were able to overcome all uncertainties that plagued most competitors especially in these areas: pre-filtration, reactor cooling, reactor rotation, water recycling, processing of rCB, (hydrocarbon removal), mass monitoring, heat curve development, humidity and water removal, safety testing, system automation, emissions control and monitoring.

TDP is Environmentally Friendly – CO2 Reduction

By producing rCB, TDP reduces GHG emissions by 90% versus the production of virgin carbon black. The production of rCB at the Hawkesbury and Shamrock facilities are expected to reduce CO2 emissions by 15,000 and 45,000 tons per year, respectively.

Please follow Ecolomondo on Twitter, Facebook, LinkedIn, Instagram and YouTube.

Twitter: https://twitter.com/EcolomondoECM

Facebook: https://www.facebook.com/EcolomondoECM

LinkedIn: https://www.linkedin.com/company/ecolomondo/

Instagram: https://www.instagram.com/ecolomondoecm/

YouTube: https://www.youtube.com/@Ecolomondo

Ecolomondo Corporation Contact

Eliot Sorella
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
esorella@ecolomondocorp.com
www.ecolomondo.com

Cautionary Note Regarding Forward Looking Statements

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Potential expected tipping fees in Hawkesbury and Shamrock Texas?admin2023-04-18T14:16:24+00:00

Potential expected tipping fees in Hawkesbury and Shamrock Texas?

We are collecting tipping fees in Hawkesbury, and we expect to collect them also in Texas.

How much carbon black has been produced to date from the Hawkesbury plant?admin2023-04-18T14:15:50+00:00

How much carbon black has been produced to date from the Hawkesbury plant?

Approximately 40% of 8,600 pounds.

Why can’t the CEO have the engineers working on these projects and internal to ECM be available to shareholders so the technical aspects and workings of the assets can be asked directly.admin2023-04-18T14:15:18+00:00

Why can’t the CEO have the engineers working on these projects and internal to ECM be available to shareholders so the technical aspects and workings of the assets can be asked directly.

There’s really no need to have the head engineer on these webinars, however, if you have any questions for them, please email them to us and we will make sure that he responds to every question. In the meantime, we will explore the possibilities of having our head engineer during our next webinar.

Shredding of tires has been an issue for other vendors in the past in order to recover the steel. In the trials and post commissioning of the Hawkesbury asset, is this asset functioning as intended or what issues are you facing?admin2023-04-18T14:14:12+00:00

Shredding of tires has been an issue for other vendors in the past in order to recover the steel. In the trials and post commissioning of the Hawkesbury asset, is this asset functioning as intended or what issues are you facing?

Yes, we have had our issues with the shredding line, but the line is functioning and producing rubber crumb. The Hawkesbury plant has not been fully ramped up, however if we discover any issues, we will take the necessary corrective action. The line is currently operating and producing and producing rubber crumb and its efficiency is being improved continuously. The steel is being recovered efficiently and its quality is superior to competitors, and we sell it in compacted bails of approximately 175 pounds each which allows us to sell it for a premium price.

What is the minimum size of land required for an 8-reactor plant?admin2023-04-18T14:13:17+00:00

What is the minimum size of land required for an 8-reactor plant?

Approximately 12-15 acres depending on the shape or formation.

ECM prepared to make the first capital payment to EDC in May for the Hawkesbury asset or are you re-negotiating with the Corporation?admin2023-04-18T14:12:45+00:00

ECM prepared to make the first capital payment to EDC in May for the Hawkesbury asset or are you re-negotiating with the Corporation?

Currently, we are planning to make the May interest payment.

Hawkesbury capex was $33.5 million Canadian dollars. Estimated capex for Shamrock? Less than 2X Hawkesbury cost?admin2023-04-18T14:12:06+00:00

Hawkesbury capex was $33.5 million Canadian dollars. Estimated capex for Shamrock? Less than 2X Hawkesbury cost?

The Capex of Hawkesbury is at 33.5 USD not CAD. The cost of Shamrock is approximately 90 million USD.

Is the $41.7 of estimates sales from Shamrock in US or Canadian dollars?admin2023-04-18T14:11:30+00:00

Is the $41.7 of estimates sales from Shamrock in US or Canadian dollars?

US dollars.

If you were to use all the diesel from a 2-reactor plant to generate electricity, how many megawatts could that be?admin2023-04-18T14:10:58+00:00

If you were to use all the diesel from a 2-reactor plant to generate electricity, how many megawatts could that be?

We will not use this oil for electricity at this facility.

What is the largest loading in tonnage that has gone through Hawkesbury plant to date.admin2023-04-18T14:10:20+00:00

What is the largest loading in tonnage that has gone through Hawkesbury plant to date.

We are currently at the ramp up stage and our largest loading tonnage for one batch is 3 1/2 tons. We expect that once our ramp up is complete, we will be at 7 1⁄2 tons per batch per reactor.

Have you thought about doing a joint venture with individual tire manufacturers to build a few mega facilities?admin2023-04-18T14:09:42+00:00

Have you thought about doing a joint venture with individual tire manufacturers to build a few mega facilities?

We basically speak to most of the tire manufacturers because we are in the same space, however, discussions are ongoing with several and we will report accordingly. It has been our experience that tire manufacturers want to buy products such as rCB and oil but have little interest in getting into the pyrolysis business in a big way.

What is the current run rate of Hawkesbury now that it has gone through the first two cycles?admin2023-04-18T14:09:04+00:00

What is the current run rate of Hawkesbury now that it has gone through the first two cycles?

The current run rate is being established, however at completion, we expect to process 6 batches a day of 15,000 pounds.

What is Ecolomondo’s timeframe to get to start on the construction of the Shamrock facility and get it up and running?admin2023-04-18T14:08:16+00:00

What is Ecolomondo’s timeframe to get to start on the construction of the Shamrock facility and get it up and running?

We will start construction as soon as the Hawkesbury’s plants ramp up is complete and once that is done, we expect to start construction of the Texas facility some time in the 3rd quarter of 2023.

What kind of government subsidies are there available to an enterprise such as yours?admin2023-04-18T14:07:36+00:00

What kind of government subsidies are there available to an enterprise such as yours?

Government subsidies are available for local economic benefits, that includes jobs and that support the local economy. There are also subsidies for the environmental sector, especially in renewables.

Does Ecolomondo see any issues in getting affordable financing right now in order carry out this expansion?admin2023-04-18T14:06:58+00:00

Does Ecolomondo see any issues in getting affordable financing right now in order carry out this expansion?

Financing is always challenging; however, we expect to borrow for the long term so when interest rates are averaged out, over the long term, they are normally a little cheaper. At this time, the increased financing costs are factored into our current business model.