#1PermaFix® environmental services Annual Shareholders Meeting Presentation: July 2020 Mark Duff, Chief Executive Officer NASDAQ: PESI A global leader in nuclear and mixed waste management services. Per aFix rvices GUTU GONDOLO#2Safe Harbor Certain statements contained within this presentation may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, the "Private Securities Litigation Reform Act of 1995"). All statements in this presentation other than a statement of historical fact are forward-looking statements that are subject to known and unknown risks, uncertainties and other factors which could cause actual results and performance of the Company to differ materially from such statements. The words "believe," "expect," "anticipate," "intend," "will," and similar expressions identify forward-looking statements. Forward-looking statements contained herein relate to, among other things: the Company's ability to develop or adopt new and existing technologies; anticipated financial performance; growth through acquisition; leader in the mixed waste industry; positioned to benefit from mixed waste market opportunities; geographic strongholds; and all other statements which are not statements of historical fact. While the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance such expectations will prove to have been correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this report, including, but not limited to: general economic conditions; increased competitive pressures; the ability to maintain and obtain required permits and approvals to conduct operations; the ability to develop new and existing technologies in the conduct of operations; changes in federal, state and local laws and regulations, especially environmental regulations, or in interpretation of such; and the commercial viability of our on-site treatment process. The Company believes the presentation of EBITDA and Adjusted EBITDA is relevant and useful by enhancing the readers' ability to understand the Company's operating performance. The Company's management utilizes EBITDA and Adjusted EBITDA as means to measure performance. The Company's measurements of EBITDA and Adjusted EBITDA may not be comparable to similar titled measures reported by other companies. The Company makes no commitment to disclose any revisions to forward looking statements, or any facts, events or circumstances after the date hereof that bear upon forward looking statements. NASDAQ: PESI 2 PermaFix® environmental services A Nuclear Services and Waste Management Company#3Company Overview Perma-Fix is focused on two primary markets with unique capabilities in each of these segments: SALVAGE DRY Culture of 'Safety First' is key to Perma-Fix's Mission & Success Treatment Permitted, licensed, and operating facilities treating a magnitude of contaminated wastes for economic and compliant disposal. Services Teams of professionals with innovative technologies and trained workforce to provide radiological protection and environmental remediation services. NASDAQ: PESI 3 PermaFix® environmental services A Nuclear Services and Waste Management Company#4Background . . Perma-Fix is a leading provider of nuclear waste treatment services • • • Founded in 1991, is recognized as a national leader in the treatment of waste that is both radioactive and/or chemically hazardous Established laboratories and R&D capabilities Addressing problematic waste streams with no existing pathway for disposition Long-standing relationships with government agencies including DOE, NRC, and NNSA Nuclear services group provides onsite personnel and technologies for environmental protection and cleanup programs . Industry leader in radiological protection services to government and commercial clients Demolition, environmental restoration and waste management services for complex cleanup projects including radiological and hazardous components NASDAQ: PESI SALVA PermaFix® environmental services 3 A Nuclear Services and Waste Management Company#5Sr. Management Team Mark Duff, President & Chief Executive Officer 34 years of experience in the DOE & DOD environmental and construction markets. Prior to joining Perma-Fix in 2016, Mr. Duff had been responsible for the successful completion of over 70 performance-based projects at the Paducah Gaseous Diffusion Plant (PGDP), KY overseeing a five-year project with a total value of $458 million. Prior to the PGDP project, Mark was a senior manager supporting Babcock and Wilcox (B&W). Dr. Louis Centofanti, Executive Vice President of Strategic Initiatives Founded Perma-Fix in 1991. Founded PPM, Inc., a hazardous waste management company. PPM's revenues grew to $15 million at which time it was sold to USPCI. Under Dr. Centofanti's leadership (Senior Vice President), USPCI was sold for $600 million (2 years after purchase of PPM). Served as senior official to the U.S. Department of Energy under the Carter Administration. Ben Naccarato, Executive Vice President and Chief Financial Officer Joined Perma-Fix in 2004. He brings over 30 years experience in the waste management and used oil industries. Previous positions include Chief Financial Officer for a privately held fuel distribution and used waste oil company, and various senior financial positions at USPCI, Laidlaw Environmental Services and Safety-Kleen Corp. Andrew J. Lombardo, Executive Vice President of Nuclear and Technical Services Joined the Company in 2011. He has held various positions within the Company's Services Segment. Mr. Lombardo is a Certified Health Physicist, has over 35 years of management and technical experience in the commercial nuclear reactor market, the U.S Department of Energy ("DOE") and the U.S. Department of Defense ("DOD") environmental and construction. 5 PermaFix® NASDAQ: PESI environmental services A Nuclear Services and Waste Management Company#6Market Overview PARTMENT DEPARTMENT OF F ENERGY' AMERIC DEFENSE FIN DEFENS SERVICE ASE FINANCE AND ACCOUNTING SE INNSA National Nuclear Security Administration NAVFAC Canadian Nuclear Laboratories Department of Energy Environmental Management (EM) • Over 100 active sites in the US with area equal to Rhode Island and Delaware combined Roughly 88 million gallons of liquid waste stored in underground tanks National Nuclear Security Administration (NNSA) Maintains facilities requiring cleanup of legacy wastes and continuous generation of newly generated wastes for disposition. Department of Defense • Navy • Nuclear propulsion and NAVFAC (nearly $2B 2017-2019) missions result in radiological and hazardous wastes United States Army Corps of Engineers (USACE) • Over $1B in remediation contracts Commercial Power Nearly 100 reactors currently operating in the US; over 400 world-wide Mining High levels of naturally occurring radioactive materials (NORM) Oil and Gas Drilling practices result in high levels of NORM International Canada/Europe / Mexico / Italy - Beginning to fund and remove legacy wastes and contamination for nuclear operations. NASDAQ: PESI 6 PermaFix® environmental services A Nuclear Services and Waste Management Company#7Market Overview - DOE E PLURIBUS UNUM GAO HIGH RISK LIST Department of Energy funds the majority of the nuclear cleanup programs through their Environmental Management organization; funding in 2019 was enacted at $7.5 billion • DOE's estimated environmental liability has been reported at $494 billion, of which, the Office of Environmental Management's (EM) cleanup activities accounted for $377 billion. Hanford is the world's largest environmental cleanup project; expected to continue until 2030 and cost well over $300 billion Dollars in billions 83% Department of Energy 372 14% Department of Defense 63 3% Other federal agencies 12 Total: 447 Source: GAO analysis of the Financial Report of the U.S. Government, fiscal year 2016. | GAO-17-317 NASDAQ: PESI 7 PermaFix® environmental services A Nuclear Services and Waste Management Company#8Market Overview – DOE - • DOE has approximately 1,611 excess facilities across its nuclear complex estimated at $12.2 billion for demolition, not including waste disposal • • • Of the 1,611 excess facilities, 244 are considered higher risk because of their level of contamination The roughly 15% of the excess facilities designated high risk are expected to account for about 88% of the cleanup cost, according to the department's 2018 plan for excess facilities • • • Savannah River Site in South Carolina has the highest number of old nonoperational facilities at 341 Oak Ridge in Tennessee has 296 nonoperational facilities Hanford, in Washington State has 288 nonoperational facilities The Office of Environmental Management has completed decommissioning about 3,000 excess buildings, trailers, and other structures over the past 25 years, according to the 2018 report Since 2011, EM's environmental liability grew by $214B, from $163B to $377B, according to DOE Financial Data defined in the May 1, 2019 GAO Report NASDAQ: PESI 8 PermaFix® environmental services A Nuclear Services and Waste Management Company#9Waste Treatment Facilities ⚫ Four fixed-based facilities with active permits and licenses to treat most waste streams in the industry • • Broad existing permits allow treatment and management of wastes for final disposition Trained and experienced workforce with long tenure at Perma-Fix and strong safety record Perma-Fix owns all the facilities with substantial capital invested through the life of the plants Perma-Fix Northwest - Richland, WA Radiological, transuranic, and large components DSSI - Kingston, TN Radiological, liquids, and PCBs Perma-Fix Florida - Gainesville, FL Industrial, radiological, and R&D NASDAQ: PESI 6 - EWOC Oak Ridge, TN LLRW processing and disposition; equipment & component processing PermaFix® environmental services A Nuclear Services and Waste Management Company#10Massive Barriers to Entry • • • Highly regulated at State and Federal levels • • • Nuclear Regulatory Commission through state regulators Environmental Protection Agency through state regulators State regulators for other air and water permits Technology • Patented (40+) and proprietary chemical treatment processes Treatment of nuclear waste is complex and requires multiple technologies and multiple steps Experience . . Unparalleled experience and track record of facilities successfully treating nuclear waste 30+ years Completed over $2 billion in demolition and remediation projects involving radiological materials NASDAQ: PESI 10 REGULATORY NUCLEAR STATES NUCLE UNITED 3 COMMISSION DANGER HIGH VOLTAGE UNITED ENVIRONMENTA STATES AGENCY PROTECTION PermaFix® environmental services A Nuclear Services and Waste Management Company#11Expansion of Treatment Capabilities • Hanford Tank Waste Treatment • • . • In Dec. 2017, treated three gallons of low activity waste from the Hanford Tanks to demonstrate treatment performance for direct disposal in Texas landfill Anticipating receipt of 2,000 gallons as Phase II of the LLW Off-site Treatment Program PFNW provides near-term alternative for off-site supplemental tank waste treatment Environmental Waste Operations Center (EWOC) • Recent addition of treatment capability to provide trans-loading to rail in Oak Ridge, TN including equipment dismantle and decon facility under new license for radiological materials . Continued Expansion of DSSI Facility New facilities under construction in Oak Ridge to expand mercury, sodium and other reactive waste processing Upgrades to support local Oak Ridge, TN cleanup missions over next 10 years Vitrification Unit Deployment at PFNW awaiting final permitting • Veolia is providing its patented GeoMeltⓇ system, cooperatively installed and operated by Perma-Fix at its PFNW facility NASDAQ: PESI 11 PermaFix environmental services A Nuclear Services and Waste Management Company#12Nuclear Services DEPARTMENT OF E NITED STATES OF A US Army Corps of Engineers.Ⓡ FAMERICA . · Nuclear services group provides personnel/ capabilities in the field for industrial and government clients • • • • Full-service remediation services for radiologically contaminated facilities and soils Includes characterization, remediation, demolition and waste management Capabilities underpinned by waste treatment plants in increase value offering Several recent DOE and DOD projects awarded in past 6 months Capabilities include health physics, deactivation/demolition & remediation NASDAQ: PESI 12 PermaFix® environmental services A Nuclear Services and Waste Management Company#13Expansion of Nuclear Services Capabilities • • Perma-SortSM Environmental Sorting Technology • Inaugural launch for US Navy to support dredging operations for locating . . radioactive items Sorting software directs diverting conveyor to discharge material to the appropriate pile Designed to characterize 100% of material and process up to 201 tons/hr Goal is to fabricate and deploy 3-4 units for remediation projects Eagle iScan . Handheld or towed systems equipped with real-time gamma spectroscopy and precision GPS tracking • GIS iso-contour radiological maps Complex Facility Characterization and Remediation • High speed, survey technology for mapping radioactive contamination Operations ongoing beginning in Q3 PermaFix NASDAQ: PESI 13 redits: GeoEye, Earthstar Geographics, USDA USGS AeroGRID User Community Remacor Pre and Post Demolition Survey July 2019 Legend <7,000 cpm 7,000 14,000 cpm 14,000 21,000 cpm 21,000 cpm 30,000 cpm > 30,000 cpm 0 50 100 200 300 400 Feet PermaFix Derumem Name Gamms Suny s Author: J. Hubler PermaFix environmental services A Nuclear Services and Waste Management Company#14Growth Strategy Services Backlog exceeding $55 million providing stability for this segment through Q1 2021 ✓ Expansion of waste treatment capabilities and increasing efficiency of existing facilities . ● • • Identifying waste inventories that represent definable markets to deploy technologies which provide efficient treatment alternatives Increasing international focus to treat wastes that do not have a disposition path through our existing facilities Design of additional applications in 2020 to support growth over next several years Nuclear Services expansion programs leveraging radiological expertise & waste management technologies Positioned to provide discriminating waste management capabilities on large DOE cleanup contracts currently in procurement cycle Significant recent success at National Laboratories, DOD Sites, and DOE Facilities to secure strategic teaming opportunities for large cleanup procurements . • Recent growth has resulted in building a more solid management and technical base of talent that has broadened relationships into commercial and new government markets ✓ Broadening market potential through client expansion • . Marketing focus on power, municipal and oil/gas industries Several new wins in commercial waste treatment and NORM Pipeline waste treatment NASDAQ: PESI 14 PermaFix® environmental services A Nuclear Services and Waste Management Company#15Covid-19 Impacts to Q2 • Focus on ensuring safety at all four treatment Plants • • Implementation of strict, CDC based guidelines to protect employees • No positive tests of employees through Q2 minimized impacts Treatment plants have maintained operations through treatment of backlog and limited receipt of new wastes through Q2 Maintaining project progress through remote support • Several new project awards in Q1 supported design and preparation document development and staff training to support June mobilization initiatives Significant bidding and procurement action to support increases to backlog over the next 12 months • PPP Loan . Loan for $5M+ to support labor costs and utilities for up to 24 weeks Reduced layoff impacts for ~100 staff initially and provided stability through high uncertainty times NASDAQ: PESI 15 PermaFix environmental services A Nuclear Services and Waste Management Company#16Profitability Model Segment Gross Profit: Fixed vs Variable Costs* Millions Treatment Segment Services Segment $50 $50 $45 $45 17% $40 37% $40 $35 16% $35 33% $30 18% $25 Millions $30 15% $25 $20 $20 13% $15 $15 $10 $10 $5 $5 S- $- $20M $30M $40M $50M $20M $30M $40M $50M Fixed cost Variable cost Gross Profit ■Fixed cost Variable cost Gross Profit Treatment Segment: High incremental margins (revenue minus variable costs) results in Services Segment: Lower incremental margins (revenue minus variable costs) but substantially lower fixed costs that are scalable significant gross profit growth when fixed facility-based costs are surpassed. * For illustration purposes only; based on past trends and subject to change based on revenue mix. NASDAQ: PESI 16 to revenue. PermaFix® environmental services A Nuclear Services and Waste Management Company#17Strategic Initiatives = Growth in Revenue of 48.3% and Adjusted EBITDA* of 162% in 2019 from 2018 Recent initiatives lay foundation for increased revenue, improved operating efficiency & greater stability M&EC Closure in 2019 to reduce costs and liability . • • • Elimination of treatment capability and $5M/yr revenues largely replaced with DSSI and PFNW capacity Hiring key industry leaders with strong existing relationships/technical capabilities Revised business development programs with strategic focus and partnering emphasis with leading large businesses Nearly three years of cost-cutting and restructuring of Perma-Fix to increase efficiency and performance: . Reduction of consultants and narrowing of strategic initiatives • Increased efficiencies in non-labor expenses . Hired new managers and removed non-performing leaders *See company's definition of adjusted EBITDA on slide 23 and reconciliation of adjusted EBITDA in the company's Form 8-K filed with the SEC on March 19, 2020 NASDAQ: PESI 17 PermaFix® environmental services A Nuclear Services and Waste Management Company#18Positive Outlook: Recent Wins & Backlog High confidence of revenue and EBITDA growth over next 18 months: • Increased additional backlog in both sectors ✓ Waste receipts impacted due to COVID-19 shutdowns but anticipated to realize strength in Q3 due to pent up demand ✓ Rapidly increasing funded services backlog due to heavy procurement loads ✓ Over $200M in contract value outstanding for award over the next 18 months in Services Segment ✓ New processing and treatment option for complicated LLRW waste at new EWOC facility Additional Nuclear Services wins and expansions ✓ Over $20M in new awards announced since the beginning of 2020 ✓ Secured first soil sorting win for DoD project, exceeding expectations ✓ CNL Small Scale Sites (SSS) #4 includes additional 13 sites ✓ All services projects performing well and making at/above target margins ✓ In respect to COVID-19, certain field projects for remediation work at governmental facilities suspended until Q3 2020 NASDAQ: PESI 18 PermaFix® environmental services A Nuclear Services and Waste Management Company#19Positive Outlook: Focus on Core Competencies Defining markets, inventory & application of expertise to provide solutions • Several Services projects to push scope into late 2020: ✓ Improved revenue anticipated in Q3 2020 based on client forecasts and project loads ✓ Outstanding backlog for awards to support early spring starts in field ✓ Approximately 80% of Services revenue through T&M contracts through 2020 • Strong teaming positions for new contracts in 2020 ✓ Nationwide DD&R valued at $3B as full and open IDIQ Sample upcoming procurements/teaming: Nationwide DD&R, $3B/10 years Oak Ridge Reservation EM Contract SRS Integrated Mission Contract Portsmouth D&D, $3B/10 yrs Several large DOD contracts ✓ Continued partnering to provide unique waste management solutions to the larger prime firms NASDAQ: PESI 19 PermaFix® environmental services A Nuclear Services and Waste Management Company#20Hanford Off-Site Processing Program Status • DOE continues to support off-site LLW treatment solutions with funding carry- over of $10M in 2020 through the Tank Closure Contract • Perma-Fix team continues to provide supplemental off-site tank waste treatment solutions with existing systems, qualified staff and permitted facilities • Perma-Fix team anticipates receipt of 2,000 gallons within next nine months The Hanford Site TANK FARMS Protecting the legacy of the Lined States defense program NASDAQ: PESI 200 Wint 200 East 20 20 PermaFix® environmental services A Nuclear Services and Waste Management Company#21First Quarter 2020: Financial Highlights. . Revenue increased by 112.3% to $24.9M versus $11.7M for the same period last year. • Services Segment revenue increased 748% to $15.3M versus $1.8M for the same period last year • Treatment Segment revenue decreased 3.5% to $9.6M versus $9.9M for the same period last year due to temporary . delays in waste shipments related to the impact of COVID-19 in mid-March Gross profit increased to $4.6M for the first quarter of 2020 versus $2.5M in prior year due to higher revenue from the awards of several contracts in the Services Segment Generated adjusted EBITDA* of $1.9M versus $67,000 for the same period last year • Achieved net income attributable to common stockholders of $1.2 million, or $0.10 per share, compared to a loss of $672,000, or ($0.06) per share for the same period last year *See reconciliation of Adjusted EBITDA on slide 23 NASDAQ: PESI 21 27 PermaFix® environmental services A Nuclear Services and Waste Management Company#222019 Financial Highlights Net revenues Adjusted EBITDA* 80,000 6,000 70,000 60,000 5,000 4,000 50,000 40,000 30,000 20,000 10,000 3,000 2,000 1,000 2018 2019 2018 2019 * See company's definition of adjusted EBITDA on slide 23 and reconciliation of adjusted EBITDA in the company's Form 8-K filed with the Securities and Exchange Commission on March 19, 2020 NASDAQ: PESI 22 22 PermaFix® environmental services A Nuclear Services and Waste Management Company#23EBITDA Reconciliation* Quarter Ended March 31, (Unaudited) (Unaudited) (In thousands) 2020 2019 Income (loss) from continuing operations $ 1 308 $ Adjustments: Depreciation & amortization Interest income Interest expense Interest expense - financing fees Income tax expense EBITDA Research and development costs related to Medical Isotope project 346 323 (56) (81) 120 87 68 10 14 39 1 800 (172) 66 9 (550) 74 165 *The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before research and development costs related to the Medical Isotope project, closure costs accrued for M&EC subsidiary and net gain on exchange offer of Series B Preferred Stock of M&EC; where applicable Both EBITDA and Adjusted EBITDA are not measures of performance calculated in accordance with Accounting Principles Generally Accepted in the United States of America ("GAAP"), and should not be considered in isolation of, or as a substitute for, earnings as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. The Company believes the presentation of EBITDA and Adjusted EBITDA is relevant and useful by enhancing the readers' ability to understand the Company's operating performance. The Company's management utilizes EBITDA and Adjusted EBITDA as a means to measure performance. The Company's measurements of EBITDA and Adjusted EBITDA may not be comparable to similar titled measures reported by other companies. The table to the left reconciles EBITDA and Adjusted EBITDA, both non-GAAP measures, to GAAP numbers for income (loss) from continuing operations for the three months ended March 31, 2020 and 2019. Closure costs accrued for M&EC subsididary Adjusted EBITDA $ 1866 $ 67 NASDAQ: PESI 23 PermaFix® environmental services A Nuclear Services and Waste Management Company#24Investment Summary Positioned to be the leader in the multi-billion-dollar nuclear services & waste treatment market · Aggressive bidding on new service contracts; provides stable and predictable cash flow . Expansion into new waste streams that eclipse current markets; incremental revenue generates very high gross and operating margins ✓ Nearly insurmountable barriers to entry ✓ Turnaround and return to profitability • • Strong year-over-year growth in revenue and EBITDA for 2020 Completed the closure of M&EC facility in 2019 to consolidate waste treatment capabilities within the three plus one remaining facilities ✓ Significant and undervalued asset base . Unique and irreplaceable facilities • $11.4 million of cash securing regulatory closure requirement NASDAQ: PESI 24 XIT ADIOACTIVE 15T920 USED OIL DANGER CONFINED SPACE M-PV-01(PV-103) Bailey PermaFix® environmental services A Nuclear Services and Waste Management Company#25Key Statistics NASDAQ: Current Price: (07/13/20): Shares Outstanding (06/02/20): Market Cap: Fiscal Year End: Inside Beneficial Ownership (06/2/20): NASDAQ: PESI 25 PESI $6.07 12.1 M $73.4 M December 31 7.9% PermaFix® environmental services A Nuclear Services and Waste Management Company