Mr. Troy Lupul reports

PLASCRED CIRCULAR INNOVATIONS INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF UPSIZED NON-BROKERED PRIVATE PLACEMENT UNDER LISTED ISSUER FINANCING EXEMPTION

As a result of strong investor demand, Plascred Circular Innovations Inc. has closed the first tranche of its previously announced upsized non-brokered $7-million private placement, issuing 29,573,822 units of the company at a price of 17 cents per unit for aggregate gross proceeds of $5,027,550, pursuant to the listed issuer financing exemption of National Instrument 45-106 -- Prospectus Exemptions. Certain portions of the first tranche, totalling approximately $1,522,149, are being settled by delivery against payment and are expected to be completed shortly. Proceeds from the offering will be used to advance development of the company's advanced plastic recycling commercial facility (Neos), to be located at CN Rail's Scotford Yard in Alberta's Industrial Heartland, including detailed engineering, permitting, procurement of long-lead equipment and also for general working capital.

The company expects to close a second tranche of the upsized offering for gross proceeds of up to approximately $1,972,450 on or before May 13, 2026.

Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 22 cents per common share for a period of 36 months following the closing date of the applicable tranche. The warrants will be subject to an early expiration provision whereby if, during a period of 10 consecutive trading days between the applicable closing date and the expiry of the warrants, the daily volume-weighted average trading price of the common shares on the Canadian Securities Exchange (or such other stock exchange where the majority of the trading volume occurs) exceeds 40 cents for each of those 10 consecutive days, the company may, within 30 days of such an occurrence, give written notice to the holders, following which notice the holders of the warrants will have 30 days to exercise their warrants. Any warrants issued pursuant to the upsized offering are subject to a restriction on exercise expiring 61 days from the applicable closing date.

The first tranche was conducted pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the units under the second tranche will be offered for sale to purchasers resident in all of the provinces of Canada with the exception of Quebec pursuant to the listed issuer financing exemption. The securities issued from the sale of units under the first tranche are, and securities issuable from the sale of the units under the second tranche are expected to be, immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada.

The first tranche closing is a significant milestone for Plascred and advances the company's path to construction of Neos, a modular advanced plastic recycling facility designed to process 100 tonnes per day of mixed plastic waste into refined hydrocarbon condensate. Neos is backed by a previously announced five-year offtake agreement with a global commodities firm and is expected to be located at CN Rail's Scotford Yard in Alberta's Industrial Heartland, one of North America's leading petrochemical clusters.

In connection with the first tranche closing, the company paid finders' fees to eligible persons who introduced subscribers to the first tranche, consisting of: (i) a cash commission equal to 7 per cent of the gross proceeds raised from the sale of units to subscribers introduced by such person; and (ii) the issuance of non-transferable broker warrants entitling the holder thereof to acquire that number of common shares equal to 7 per cent of the number of units sold to subscribers introduced by such person, exercisable at a price of 22 cents per common share for a period of 36 months following the closing date of the first tranche. In the first tranche the company paid $285,939 in cash and 1,681,997 in broker warrants. The company may pay finders' fees on the same terms in connection with the second tranche. The completion of the upsized offering is subject to the receipt of all required regulatory approvals, including approval from the CSE.

There is an amended and restated offering document related to the upsized offering that can be accessed at the company's website and under the company's profile at SEDAR+. Prospective investors should read this offering document before making an investment decision.

About Plascred Circular Innovations Inc.

Plascred is an Alberta-based company developing an advanced plastic recycling facility. The company's engineered, modular platform converts mixed plastic waste into refined hydrocarbon condensate for use in virgin plastic production, petrochemical feedstock and upstream energy applications.

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