Exhibit 99.3
Unaudited Consolidated Financial Statements
PureCycle Technologies, LLC
September 30, 2023
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PureCycle Technologies, LLC.
QUARTERLY SUBMISSION SUMMARY


Delivery Requirement:Submission Compliance
Interim Financial Statements (Guarantor)See Form 10-Q for the period ended 9/30/2023 as filed with the SEC.
Interim Financial Statements (Company)Included herein
Compliance CertificatesIncluded herein for Guarantor and Company
Operating Statements

a) Budget to Actual for the period

b) Total product sold

c) Amount of Product sold under offtake contracts (in total) and amount of other products sold (with information about sale/purchaser)

d) Production Yield and values by weight/value

e) Supplied waste processed by weight / values

f) IHS/Chemical Data indices used

g) Terms/ extensions / replacements of Offtake or Feedstock contracts

h) Additional production capacity under development

i) hours of operation for the Project
a) Refer to budget to actual

b) Not applicable for Q3. There has been no product sold.

c) Not applicable for Q3. There has been no product sold under Offtake Contracts or of other Products which require disclosure.

d) Zero.

e) 2.4M lbs. processed for the quarter ended September 30, 2023.

f) IHS Average Price for Q3 = $0.5617/lb
   Chemical Market Data Q3 = $0.3617/lb

g) None other than those previously disclosed.

h) Not applicable. There have been no changes to production capacity.

i) Zero hours of beneficial operations.
Reconciliation Statements (Operating Revenue Fund)Not applicable for Q3.


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PureCycle Technologies, LLC.
TABLE OF CONTENTS
Page
Balance Sheets as of September 30, 2023 (Unaudited) and December 31, 2022
4
 Unaudited Statements of Operations for the Three Months Ended September 30, 2023 and 2022
Unaudited Statements of Member's Equity for the Nine months ended September 30, 2023 and 2022
6
Unaudited Statements of Cash Flows for for the Nine months ended September 30, 2023 and 2022
Comparison of Actual to Budgeted Results for the Three Months Ended September 30, 2023 and 2022
Covenant Compliance for the Three Months Ended September 30, 2023


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PureCycle Technologies, LLC.
CONSOLIDATED BALANCE SHEETS

(Unaudited)
(in thousands)September 30, 2023December 31, 2022
CURRENT ASSETS
Cash and cash equivalents$    780$    50,928
Restricted cash - current19,82729,389
Prepaid expense and other current assets6,4491,612
Total current assets27,05681,929
Restricted cash - noncurrent150,14993,415
Property, plant and equipment, net420,959373,848
Operating lease right-of-use assets4,8025,042
Other long term assets4,0714,206
TOTAL ASSETS$    607,037$    558,440
LIABILITIES AND MEMBER'S EQUITY
CURRENT LIABILITIES
Accounts payable
$    1,706
$    816
Accrued expenses18,60226,715
Accrued interest6,1271,532
Current portion of long-term debt
    3,425
    —
Total current liabilities
    29,860
    29,063
Deferred revenue5,0005,000
Bonds payable230,901233,513
Operating lease right-of-use liabilities3,6333,956
Other Liabilities1,0541,117
Due to parent282,766188,989
TOTAL LIABILITIES
$    553,214
$    461,638
MEMBER'S EQUITY
LLC Member Interest223,387223,387
Accumulated deficit(169,564)(126,585)
TOTAL MEMBERS' EQUITY$    53,823$    96,802
TOTAL LIABILITIES AND MEMBERS' EQUITY
$    607,037
$    558,440

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PureCycle Technologies, LLC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Three months ended September 30,
20232022
(in thousands)
Costs and expenses
Operating costs$17,323 $3,076 
Research and development48 210 
Selling, general and administrative2,692 1,942 
Total operating costs and expenses20,063 5,228 
Interest expense (income), net3,315 (481)
Other expense(13)(32)
Total other expense
3,302 (513)
Net loss$(23,365)$(4,715)


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PureCycle Technologies, LLC.
CONSOLIDATED STATEMENTS OF MEMBER'S EQUITY
(Unaudited)
For the nine months ended September 30, 2023
(in thousands)LLC Member InterestAccumulated deficitTotal Member's Equity
Balance, December 31, 2022$    223,387$    (126,585)$    96,802
Net Loss—(6,685)(6,685)
Balance, March 31, 2023$    223,387$    (133,270)$    90,117
Net Loss—(12,929)(12,929)
Balance, June 30, 2023$    223,387$    (146,199)$    77,188
Net Loss—$    (23,365)(23,365)
Balance, September 30, 2023$    223,387$    (169,564)$    53,823
For the nine months ended September 30, 2022
(in thousands)LLC Member InterestAccumulated deficitTotal Member's Equity
Balance, December 31, 2021$    223,387$    (104,276)$    119,111
Net Loss—(5,480)(5,480)
Balance, March 31, 2022$    223,387$    (109,756)$    113,631
Net Loss—(5,459)(5,459)
Balance, June 30, 2022$    223,387$    (115,215)$    108,172
Net Loss—(4,715)(4,715)
Balance, September 30, 2022$    223,387$    (119,930)$    103,457


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PureCycle Technologies, LLC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Nine months ended September 30,
20232022
Cash flows from operating activities
Net loss
$(42,979)$(15,654)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense13,149 1,935 
Accretion of debt instrument discounts192 177 
Amortization of debt issuance costs621 569 
Operating lease amortization874 126 
Changes in operating assets and liabilities:
Prepaid expenses and other current assets(4,837)(1,723)
Prepaid expenses and other non-current assets135 24 
Accounts payable982 1,031 
Accrued expenses1,619 1,505 
Accrued interest6,019 324 
Operating right-of-use liabilities(686)(122)
Net cash used in operating activities$(24,911)$(11,808)
Cash flows from investing activities
Purchases of property, plant and equipment(71,818)(124,628)
Net cash used in investing activities$(71,818)$(124,628)
Cash flows from financing activities
Due to Parent93,777 39,216 
Payments on capital leases(23)(31)
Net cash provided by financing activities$93,754 $39,185 
Net (decrease) increase in cash and restricted cash(2,976)(97,251)
Cash and restricted cash, beginning of year173,732 229,561 
Cash and restricted cash, end of year$170,756 $132,310 
Supplemental disclosure of cash flow information
Non-cash operating activities:
Interest paid during the period, net of capitalized interest$650 $650 
Non-cash investing activities:
Additions to property, plant, and equipment in accrued expenses$14,968 $19,586 
Additions to property, plant, and equipment in accounts payable
$422 $367 
Additions to property, plant, and equipment in accrued interest$— $4,271 


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PureCycle Technologies, LLC.
BUDGET TO ACTUAL

For the Quarter Ended September 30, 2023
ActualBudget$ Variance% VarianceExplanations
(in thousands)favorable / (unfavorable)
Costs and expenses
Operating costs$17,323 $16,617 $    (706)(4)    %~$5.3M unfavorable non-cash depreciation expense, offset by favorable variances in variable costs due to production delays.
Research and development4840(8)(20)    %immaterial for review
Selling, general and administrative2,6925,4562,76451    %~$2M favorable for shared services allocation vs. budget for Q3
Total operating costs and expenses20,06322,1132,0509    %
Interest expense, net$    3,315$    4,872$    1,55732    %$4.8M of interest expense offset by $1.6M of interest income
Other expense(13)—13100    %immaterial for review
Total other expense, net$    3,302$    4,872$    1,57032    %
Net loss$(23,365)$(26,985)$    3,62013    %


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PureCycle Technologies, LLC.

COVENANT COMPLIANCE



Days Cash on Hand: >75As of September 30, 2023
Cash on Hand1$102,970 
Operating Expenses2(11,275)
Debt Service for Period3—
Total Operating Expenses + Debt Service$(11,275)
Daily Cash Required4123
Days Cash on Hand840pass



Minimum Cash Required (at least $100M)As of September 30, 2023
Cash & cash equivalents$780 
Liquidity Escrow Reserve51,186
PureCycle Trustee Account51,003
Operating Revenue Escrow Fund273
Total Cash$103,242 pass

1 Cash on hand includes the following amounts: Unrestricted cash & cash equivalents, the PureCycle Trustee Account, and the Operating Revenue Fund
2 Operating expenses include all operating costs except for depreciation and amortization
3 None for Q2 2023
4 Daily cash required = (total operating expenses + debt service) / days in period

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