The statement continues to highlight that in the past 20 years, the band have had 11 children, which has magnified their understanding how the fans' parents felt and continue to feel.
"Every day our hearts continue to ache and our stomachs turn at the thoughts of those young men dying and of what might have been different, if only...but nothing changes.
"And our pain is a thousandth of that of the families.... the moms and dads, sisters and brothers, best friends...
"Our deepest condolences and apologies to the families who lost their boys that day."
The band go on to admit that in the aftermath of the incident, they retreated and "became angry" after they were accused of being responsible.
"Our words were nothing to help at that point. We hid and hoped that it wasn't our fault. We have been trying our best to unhide ever since
"Young men who loved PJ and wanted to get up close. That was the through-line of all those who passed that day. We hope we will never know what that loss feels like. We hope."
You can read the full statement from Pearl Jam on their official website.
Since the tragedy, a memorial has been erected on the festival site, containing a stone with the inscription 'How fragile we are' surrounded by nine trees.