Li-Cycle Comments on Process to Evaluate Financing and Strategic Alternatives

Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, today acknowledged regulatory filings made yesterday in the United States and Canada by Glencore plc and its affiliates (together, “Glencore”) related to discussions that Glencore is having regarding Li-Cycle and its subsidiaries, in light of the ongoing process being conducted by the Company to evaluate financing and strategic alternatives. The Company does not intend to comment specifically on Glencore’s disclosures.

As previously announced on November 13, 2023, the Company has engaged Moelis & Company LLC (“Moelis”), a leading global independent investment bank, as financial advisor to assist in evaluating financing and strategic alternatives for the Company. Moelis has commenced a robust process that includes both existing stakeholders and potential new investors. The Company is committed to identifying and pursuing financing and strategic alternatives that are in the best interests of Li-Cycle.

There can be no assurance that this process will result in Li-Cycle pursuing or consummating any particular transaction or other strategic outcome. The Company does not intend to comment further on the process, or future public statements by persons who may be involved in the process, and will make further announcements in accordance with its ongoing disclosure obligations and pursuant to applicable laws and regulations.

About Li-Cycle Holdings Corp.

Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company and North America’s largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. Established in 2016, and with major customers and partners around the world, Li-Cycle is on a mission to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable, and patent-protected Spoke & Hub Technologies to provide a safe, scalable, customer-centric solution to recycle all different types of lithium-ion batteries. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel, and cobalt. At our Hubs, or post-processing facilities, we will process black mass to produce critical battery-grade materials, including lithium carbonate, nickel sulphate, and cobalt sulphate. For more information, visit https://li-cycle.com/.