PERMA FIX ENVIRONMENTAL SERVICES INC

For the period ended Dec 31, 2024. Filed Mar 13, 2025.

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FY2024 · Filed Mar 13, 2025

PESI$15.59+11.0%Stored close · as of Nov 9, 2026

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Special Note Regarding Forward-Looking Statements

Forward-looking Statements

Certain statements contained within this report may be deemed “forward-looking statements” within the meaning of the “Private Securities Litigation Reform Act of 1995”. All statements in this report 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,

●	demand for our services;
●	opportunities in Germany;
●	reductions in the level of government funding in future years;
●	accelerated investments;
●	base business is positioned for improvement in 2025;
●	results of operations improvement in 2025;
●	advancement of initiatives to be further realized in 2025;
●	approvals of scope attributable to the Company under the West Valley Development Project contract;
●	operations of the West Valley Development Project;
●	Low-Level Tank Waste and benefits of supplemental capability;
●	reducing operating costs and non-essential expenditures;
●	revenues relating to the West Valley Development Project;
●	ability to meet loan agreement quarterly financial covenant requirements;
●	additional CR impact;
●	spending priorities under new Administration;
●	passage of the 2025 fiscal year U.S. government budget;
●	cash flow requirements;
●	sufficient cash flow and Liquidity to fund operations for the next twelve months;
●	receipt of international waste shipments in 2025;
●	amount of capital expenditures;
●	revenue under the Italian project;
●	manner in which the applicable government will be required to spend funding to remediate various sites;
●	successful on international bids;
●	funding of operating and capital expenditures from cash from operations, Liquidity under our Credit Facility, and/or financing;
●	our PFAS technology process will exceed current treatment options available;
●	receipt of an additional 20,000 AFFF liquid;
●	deployment of the second generation unit;
●	strategy for our System;
●	advancement of our PFAS technology;
●	funding of remediation expenditures for sites from funds generated internally;
●	compliance with environmental regulations;
●	positioning for procurements from DOE and other government agencies;
●	potential effect of being a potentially responsible party (“PRP”);
●	potential violations of environmental laws and attendant remediation at our facilities; and
●	Quarterly financial covenant requirement for the next twelve months.

While the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance such expectations will prove to be 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 and uncertainties;
●	contract bids, including international markets;
●	our dependence on contracts with federal, state and local governments, agencies, and departments for the majority of our revenue;
●	changes in federal government budgeting and spending priorities;
●	failure by Congress or other governmental bodies to approve budgets and debt ceiling increases in a timely fashion and related reductions in government spending and/or a government shutdown;
●	uncertainties relating to the new presidential administration (the “Administration”) and failure of the Administration to spend Congressionally mandated appropriations, which may result in the failure to realize the full amount of our backlog;
●	failure of the Administration and Congress to agree on spending priorities, which may result in temporary shutdowns of non-essential federal functions, including our work to support such functions;
●	results of routine and non-routine government audits and investigations, including the unpredictability of the actions of the newly-formed DOGE;
●	inability to meet PNC covenant requirements;
●	inability to collect in a timely manner a material amount of receivables;
●	increased competitive pressures;
●	inability to maintain and obtain required permits and approvals to conduct operations;
●	inability to develop new and existing technologies in the conduct of operations;
●	inability to maintain and obtain closure and operating insurance requirements;
●	inability to retain or renew certain required permits;

●	discovery of additional contamination or expanded contamination at any of the sites or facilities leased or owned by us or our subsidiaries which would result in a material increase in remediation expenditures;
●	delays at our third-party disposal site can extend collection of our receivables greater than twelve months;
●	refusal of third-party disposal sites to accept our waste;
●	changes in federal, state and local laws and regulations, especially environmental laws and regulations, or in interpretation of such;
●	requirements to obtain permits for treatment, storage and disposal (TSD) activities or licensing requirements to handle low level radioactive materials are limited or lessened;
●	management retention and development;
●	financial valuation of intangible assets is substantially more/less than expected;
●	the need to use internally generated funds for purposes not presently anticipated;
●	inability of the Company to maintain the listing of its Common Stock on the Nasdaq;
●	terminations of contracts with government agencies or subcontracts involving government agencies or reduction in amount of waste delivered to the Company under the contracts or subcontracts;
●	failure of our Italian team partner to perform its requirements in connection with the Italian project;
●	changes in the scope of work relating to existing contracts;
●	occurrence of an event similar to COVID-19 having adverse effects on the U.S. and world economics;
●	renegotiation of contracts involving government agencies;
●	disposal expense accrual could prove to be inadequate in the event the waste requires re-treatment;
●	inability to raise capital on commercially reasonable terms;
●	inability to increase profitable revenue;
●	risks resulting from expanding our service offerings and client base;
●	non-acceptance of our new technology;
●	adjustments to our valuation allowance;
●	new governmental regulations; and
●	risk factors contained in Item 1A of this report.

Our forward-looking statements are based on the beliefs and assumptions of our management and the information available to our management at the time these statements were prepared. Although we believe the expectations reflected in these statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Annual Report on Form 10-K. We undertake no obligation to update these forward-looking statements, even if our situation changes in the future.

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