Li-Cycle Receives Continued Listing Standard Notice from NYSE

Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, today announced that it has received written notice (the "Notice") from the New York Stock Exchange (“NYSE”) indicating that the Company is not in compliance with Section 802.01C of the NYSE’s continued listing standards because the average closing price of Li-Cycle’s common stock was less than $1.00 over a consecutive 30 trading-day period.

Li-Cycle has advised the NYSE of its intention to cure the deficiency and is considering all available options in this regard. Under the NYSE’s rules, Li-Cycle has a six-month period following receipt of the Notice to bring its average closing share price to at least $1.00 over the prior 30 trading-day period.

The Notice has no immediate effect on the listing of the Company’s common shares on the NYSE, subject to the Company’s compliance with the NYSE’s other continued listing requirements, and does not affect Li-Cycle’s ongoing business operations or its reporting obligations under the rules of the U.S. Securities and Exchange Commission or the Ontario Securities Commission.

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/.