Perma-Fix Environmental ServicesInvestor Presentation

June 2009

2

Safe 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.

3

Investment Highlights

Positioned to be the major supplier in $50+ billion nuclear waste treatment market

Improving Department of Energy budgets for nuclear waste treatment

Nearly insurmountable barriers to entry

Sufficient capacity to support future organic growth

Recent expansion into onsite waste treatment opens sizeable new growth opportunities

Completed sale of underperforming industrial facilities with remaining operations

generating strong cash flow and positioned for growth

4

Nuclear Services

What is Mixed Waste?

• Both chemically hazardous and radioactive

• Waste generated by commercial customers, utilities, hospitals, research facilities, and the government

• DOE is the largest generator of mixed waste– Legacy waste dating back to Manhattan Project

– Massive quantities accumulated during Cold-War

– State mandates to treat this waste

• Cost of treating legacy low-level mixed waste -- $7 billion

• Emerging market in higher level mixed waste -- $ ???????

5

Hazardous RadioactiveMixed

Remove Hazardous Constituents

Meets all regulatory requirements for disposal

Treating Mixed-Waste

Perma-Fix is the most comprehensive provider of mixed waste treatment services, with facilities and proven technology to treat waste that is both chemically hazardous & radioactive

6

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 and proprietary chemical treatment process

– Treatment of nuclear waste is complex andrequires multiple technologies and multiple steps

• Experience– Successfully treating nuclear waste 10+ years

7

Nuclear Facilities

Gainesville, FL Kingston, TN

Oak Ridge, TN Richland, WA

8

K-25 Complex

Oak Ridge, TN

9

Former Hanford Weapons Facility

• The DOE’s Hanford site is located along the Columbia River in southeastern Washington State

• Hanford was first utilized as part of the Manhattan Project and throughout the Cold War

– Provided the plutonium and other materials necessary for the development of nuclear weapons

– Nine nuclear reactors and associated processing facilities

• Today, under the direction of the U.S. DOE, Hanford is engaged in the world's largest environmental cleanup project

10

Hanford Weapons Facility

• Physical challenges at the Hanford Site include more than:– 50 million gallons of high-level liquid waste in 177 underground storage

tanks– 2,300 tons (2,100 metric tons) of spent nuclear fuel– 12 tons (11 metric tons) of plutonium in various forms– Approx. 25 million cubic feet (750,000 cubic meters) of buried or stored solid

waste– 270 billion gallons (a trillion liters) of groundwater contaminated beyond

drinking water standards, spread out over about 80 square miles – More than 1,700 waste sites, and about

500 contaminated facilities

• Cleanup expected to continue until 2030 and cost over $100 billion

11

Perma-Fix Northwest Richland Facility

• 45-acre nuclear waste processing facility located adjacent to the Hanford site

– Low Level Waste (LLW) Facility that can treat more than eight million pounds of solid, liquid, and wet waste annually

– Mixed Low Level Waste (MLLW) Facility has operations permitted for the treatment of highly regulated wastes at a capacity of approximately 21 million pounds of waste annually

• Radioactive and hazardous waste permits and licenses

• Proven technology already in use at M&EC facility

• Perma-Fix Northwest Richland, along with the company’s M&EC facility, are the most comprehensive waste treatment facilities in the United States

Onsite Waste Treatment

• In June 2008, Perma-Fix was awarded a major subcontract for waste management and facility operations at the Hanford Site

• Total contract for all team members valued at approximately $4.5 billion over ten years (five-year base period with the option to extend it for another five years)

• Perma-Fix’s share of the contract is valued at $40-50 million annually

– Anticipate generating approximately $30 million annually from onsite services

– Anticipate generating approximately $10-20 million annually from offsite services

12

13

Nuclear Growth Strategy

• Moving into higher-level waste and waste requiring specialized handling:

– Special nuclear material

– Classified waste

• Perma-Fix is continuing to bid on contracts to help the DOE manage waste removal at its nuclear weapons facility

– Strengthened competitive position following award of subcontract at DOE Hanford, Washington site

• Expanding treatment capabilities, such as radioactive PCBs

• Opportunistic acquisitions that leverage core treatment capabilities

Improved DOE Budgets

Gov’t Fiscal 2008 (Oct. 1, 2007 to Sept. 30, 2008):

• 2008 actual spending* for EM was $5.2B

Gov’t Fiscal 2009 (Oct. 1, 2008 to Sept. 30, 2009):

• 2009 Congressional budget for EM increased to $6.4 billion

The DOE’s Office of Environmental Management (EM) is responsible for cleanup of the environmental legacy of the Nation's nuclear weapons program

The economic stimulus package passed in February 2009 includes over $6 billion of additional funding designated for

nuclear waste clean-up throughout the DOE complex

14*Congressional budget was $5.9 billion, but only $5.2 allowed

15

Industrial Segment

• In 2008, Perma-Fix sold 3 of its underperforming industrial facilities

• The remaining 3 facilities are generating strong cash flow and are positioned for growth

– Perma-Fix of Ft. Lauderdale

– Perma-Fix of Orlando

– Perma-Fix of South Georgia

16

Schreiber, Yonley & Associates

• Established in 1985

• Leader in environmental engineering services

• Services are complementary to existing business

• Permitting experts

– Key in-house resource

– External experts to industry

– Name recognition

– Key to leveraging experience at non-fixed-based facilities

17

Financial Overview

(Amounts in Thousands, Except for Per Share Amounts) 2009 2008 2008 2007

Net revenues $ 22,002 $ 17,470 $ 75,504 $ 64,544 Gross profit 5,088 4,446 20,194 19,000

Selling, general and administrative expenses 4,339 4,460 18,832 18,082

Income (loss) from operations 761 (14) 2,164 (1,090)

Income (loss) from discontinued operations, net of taxes 304 (675) (1,332) (6,830) Gain on disposal of discontinued operations, net of taxes - 2,107 2,323 - Net income (loss) applicable to Common Stockholders 548 1,069 1,911 (9,210)

Net income (loss) per common share – diluted Continuing operations $ - $ (0.01) $ 0.02$ $ (0.05) Discontinued operations 0.01 (0.01) (.02) (0.13) Disposal of discontinued operations - .04 .04 - Net income (loss) per common share - diluted $ 0.01 $ 0.02 $ 0.04 $ (0.18)

Number of common shares used in computingnet income (loss) per share - diluted 54,005 53,704 54,003 52,549

Three Months Ended Twelve Months EndedMarch 31, December 31,

Balance Sheet Data

March 31, 2009

December 31, 2008

(Amounts in Thousands, Except for Share Amounts)

ASSETS

Cash & equivalents 125$ 184$

Total current assets 28,175 29,723

Total assets 125,441$ 123,712$

LIABILITIES AND STOCKHOLDERS’ EQUITY

Total current liabilities 30,476$ 33,609$

Long-term liabilities/other 32,581 28,467

Total stockholders' equity 62,384 61,636

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 125,441$ 123,712$

18* The company has access to a revolving line of credit with PNC Bank, with excess availability of approximately $4.4 million as of March 31, 2009

19

Near Term Goals

• Organic revenue growth of at least 10-20% annually, in addition to Hanford and future onsite contracts

• Bid on additional contracts to help manage and remediate the DOE weapons facilities

• Additional growth opportunities include:

– Demonstration of higher level waste treatment at Hanford

– Additional waste treatment processes, i.e. radioactive PCBs

• Margin improvement within Nuclear Segment

• Utilize strong cash flow to further reduce long-term debt and increase cash reserves

20

Senior Management Team

More than 150 Years of Industry ExperienceDr. Louis Centofanti, Chairman and Chief Executive Officer, joined 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, Chief Financial Officer, joined Perma-Fix in 2004. He brings twenty years experience in senior financial positions in the waste management and used oil industries. Previous positions include Chief Financial Officer for Culp Petroleum Company Inc, a fuel distribution and used waste oil company and Director of Financial Planning and Analysis with Safety-Kleen Corp.

Larry McNamara, Chief Operating Officer, joined Perma-Fix in 1998. Served as Chief of the Department of Defense Low Level Radioactive waste office. Previous positions included mixed waste program manager at Waste Control Specialist and Chief of Planning for the United States Army.

Robert Schreiber, President of Schreiber, Yonley & Associates, an internationally recognized environmental engineer. Held various positions with the State of Missouri Department of Natural Resources.

21

Investment Highlights

Positioned to be the major supplier in $50+ billion nuclear waste treatment market

Improving Department of Energy budgets for nuclear waste treatment

Nearly insurmountable barriers to entry

Sufficient capacity to support future organic growth

Recent expansion into onsite waste treatment opens sizeable new growth opportunities

Completed sale of underperforming industrial facilities with remaining operations

generating strong cash flow and positioned for growth