Investor Presentaiton

EBITDA 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

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