Ecolomondo Releases Its Interim Consolidated Financial Statements for the Third Quarter of 2023. Provides Amendment to Market Making Services Agreement

Ecolomondo Corporation (TSXV: ECM) (OTC: ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process (“TDP”) proprietary recycling technology and the global deployment of TDP turnkey facilities, announces that it has released its unaudited consolidated financial statements and notes thereto and its related management discussion and analysis for the nine-month period ended September 30, 2023 (the “Interim Financial Statements”). The documents are available on SEDAR at www.sedar.com.

During the quarter ended September 30, 2023, the Company gained significant headway in production ramp-up of its state-of-the art Hawkesbury TDP turnkey facility. During the quarter, the company had revenues of $105,486 mostly from the sale of end-products produced at the Hawkesbury facility. Numerous customers that have purchased Ecolomondo’s end-products have expressed satisfaction and many of them have placed repeat orders. The Company also continued to prepare for the construction of its unprecedented Shamrock, Texas, TDP turnkey facility, expected to begin by the third quarter of 2024. The Company continued to promote its TDP proprietary technology while evaluating potential sites to build future TDP turnkey facilities as part of its global strategy to become a major producer and reseller of quality recovered products.

Highlights of the unaudited consolidated financial statements and notes thereto for the interim period ended September 30, 2023, are:

• The Company had revenues of $105,486 mostly from the sale of end-products produced at the Hawkesbury facility.
• The Company received a further advance from a company under common control of $725,300 bringing the total for the year to $1,175,300.
• Loss for the quarter was $511,354, compared to $573,152 for the same period in 2022.
• As of September 30, 2023, capital expenditures for the Hawkesbury TDP turnkey facility totaled $46,234,419.
• Accounts payable and accrued liabilities decreased by $1,053,480 between December 31, 2022, and September 30, 2023.

Subsequent Events

• On October 1, 2023, the company secured a further advance of $1,000,000 from a company under common control.
• On October 10, 2023, the Company filed an application for listing on the OTCQB Markets under the symbol "ECLMF" in the United States operated by OTC Markets Group Inc. This significant step further solidifies Ecolomondo’s commitment to expanding its global footprint and accessibility for investors. Ecolomondo’s common shares will continue to trade on the TSX Venture Exchange under the symbol "ECM".
• Ecolomondo entered into amending agreements to the original loan agreement with Export Development Canada ("EDC") on July 26, September 28, and subsequently on October 31. The Original loan Agreement was 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 renewable resources. The Amending Agreements allow for the postponement of principal and interest payments to November 30, 2023, as the Company continues to work through the final documentation of renegotiating the conditions of its asset-backed loan with the EDC.

Ecolomondo successfully performed the simultaneous production cycles of optimal payloads using both the reactors at its Hawkesbury TDP facility. The facility initially began testing its reactors in January 2023 with an initial payload of 1,600 lbs and payloads were gradually increased and reached the optimal payload goal of 15,000 lbs per production cycle of each reactor.