Mr. Troy Lupul reports

PLASCRED CIRCULAR INNOVATIONS INC. ANNOUNCES Q3 2023 RESULTS

Plascred Circular Innovations Inc. has released its financial and operating results for the third quarter of 2023.

Troy Lupul, president and chief executive officer of Plascred, stated: "This quarter has been transformative for Plascred. Our registration with Verra and collaboration with Adelaide Capital are testaments to our growing influence in the plastic upcycling sector. The remarkable outcomes from our Primus pilot plant underscore our technological prowess and commitment to a sustainable future. We are not only addressing the global plastic waste challenge but also leading change in the industry."

Q3 2023 highlights:

• Verra registration and commitment to sustainability: Plascred has registered with Verra, a global authority in certifying greenhouse gas reductions and sustainable development benefits, marking a significant step in Plascred's entry into the plastic credits trading market.
• Strategic collaboration with Adelaide Capital: The company has formed a strategic partnership with Adelaide Capital, a leading investor relations and capital markets advisory firm. This alliance is expected to significantly boost Plascred's market presence and facilitate its growth strategies.
• Progress in patent-pending Plascred Primus operations: The commissioning of the patent-pending Primus pilot plant in Calgary is a significant landmark for Plascred. With an impressive yield rate of approximately 80 per cent, the plant is a testament to Plascred's dedication to sustainable and efficient plastic waste upcycling. Currently, the plant is engaged in continuing rigorous testing processes, using a wide range of mixed plastic waste sources. This diverse testing approach, verified by an independent third party laboratory, ensures a comprehensive evaluation of Plascred's innovative technology's effectiveness across various types of plastic waste, further showcasing the potential and versatility of the Primus pilot plant in advancing plastic waste transformation.

Operational results

For the nine months ending Sept. 30, 2023, Plascred reported the following:

• Net loss and comprehensive loss: $6,023,155;
• Basic and diluted loss per common share: 18 cents.

Comparatively, for the quarter ending Sept. 30, 2022:

• Net loss and comprehensive loss: $119,003;
• Basic and diluted loss per common share: nil.

Financial position as of Sept. 30, 2023:

• Cash on hand: $1,072,423;
• Total assets: $2,615,923;
• Current liabilities: $1,008,597;
• Total liabilities and shareholders' equity: $2,615,923.

Shares outstanding:

• The company's common shares outstanding totalled 62,396,605.

About Plascred Circular Innovations Inc.

Plascred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing toward a climate-positive future, Plascred aspires to be among the largest advanced plastic waste upcyclers in North America and globally. Its groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and upcycling. Plascred is also developing strategic partnerships with CN Rail and Fibreco Export Inc., providing Plascred with unparalleled logistics support across North America and globally for transportation and handling of plastic waste.

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