Stefan Hogg Li-Cycle Corp

1. EV Battery Recycling & Reuse USA 2023:
LIB Material Recovery Technology As A Sustainable And
Scalable Solution
March 14th, 2023

2. FORWARD LOOKING STATEMENTS AND UNAUDITED RESULTS
• Certain statements contained in this presentation may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of
1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “believe”,
“may”, “will”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “could”, “plan”, “potential”, “future”, “target” or other similar expressions that predict or indicate future events or trends or that are not statements
of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this presentation include but are not limited to statements about announced megafactory
capacity by 2025 and 2030 and estimated battery materials total addressable market in North America and Europe by 2025 and 2030; the commencement of operations for line 1 and line 2 of the Germany Spoke and the
main line and ancillary capacity of the Germany, Norway and Ontario Spokes; expected Spoke processing capacity (2023 and future planned); the timing of achievement of various milestones and initiation of commissioning
of the Rochester Hub and its total capital cost; our plan to reserve black mass materials; and our expectation that cash on hand and debt financing options support Spoke & Hub continued optimization and expansion plans.
• These statements are based on various assumptions, whether or not identified in this presentation, made by Li-Cycle management, including but not limited to assumptions regarding the timing, scope and cost of Li-
Cycle’s projects; the processing capacity and production of Li-Cycle’s facilities; Li-Cycle’s ability to source feedstock and manage supply chain risk; Li-Cycle’s ability to increase recycling capacity and efficiency; Li-Cycle’s
ability to obtain financing on acceptable terms; Li-Cycle’s ability to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners; general economic conditions; currency
exchange and interest rates; compensation costs; and inflation. There can be no assurance that such assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations
expressed in or implied by the forward-looking statements.
• On December 21, 2022, Li-Cycle’s Board of Directors approved a change in the Company’s fiscal year end from October 31 to December 31. Li-Cycle’s next financial year will cover the period from January 1, 2023, to December
31, 2023. As a result, references in this presentation to "FY 2023" refers to the period from January 1, 2023, to December 31, 2023.
• Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and which may cause actual results to differ materially
from the forward-looking information. Li-Cycle believes that these risks and uncertainties are related (but not limited) to the following: Li-Cycle’s inability to economically and efficiently source, recover and recycle lithium-
ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life
lithium-ion batteries; Li-Cycle’s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle’s inability to manage future global growth effectively; Li-Cycle’s inability to develop the
Rochester Hub and other future projects including its Spoke network expansion projects in a timely manner or on budget or that those projects will not meet expectations with respect to their productivity or the
specifications of their end products; Li-Cycle’s failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause
dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; one or more of Li-Cycle’s current or future facilities becoming inoperative, capacity constrained or if its
operations are disrupted; additional funds required to meet Li-Cycle’s capital requirements in the future not being available to Li-Cycle on acceptable terms or at all when it needs them; Li-Cycle expects to continue to incur
significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle’s operations; Li-Cycle’s inability to
maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for “green” energy
technologies; decreases in benchmark prices for the metals contained in Li-Cycle’s products; changes in the volume or composition of feedstock materials processed at Li-Cycle’s facilities; the development of an
alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle’s revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle’s insurance may not cover all liabilities and
damages; Li-Cycle’s heavy reliance on the experience and expertise of its management; Li-Cycle’s reliance on third-party consultants for its regulatory compliance; Li-Cycle’s inability to complete its recycling processes as
quickly as customers may require; Li-Cycle’s inability to compete successfully; increases in 4 income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle’s operating
and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings;
unfavorable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events;
failure to protect or enforce Li-Cycle’s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle’s failure to effectively remediate the material weaknesses in its internal
control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting. These and other risks and uncertainties related to Li-Cycle’s business
and the assumptions on which the forward-looking information is based are described in greater detail in the sections entitled "Risk Factors" in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange
Commission and the Ontario Securities Commission in Canada. Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements
should not be relied upon as representing Li-Cycle’s assessments as of any date subsequent to the date of this presentation.
• The Company’s auditors, KPMG, require additional time to complete their audit procedures and accordingly the financial results presented in this presentation are unaudited. Our actual results for the year ended October 31,
2022 may differ materially from the unaudited results disclosed herein and are not necessarily indicative of the results to be expected for any future period.
Disclaimer
2

3. 3
Vision & Mission Statement
VISION
To be the most sustainable, vertically
integrated, and globally preeminent lithium-
ion battery resource recovery company
MISSION
Providing sustainable and safe customer-
centric solutions and technology to solve the
global end-of-lifecycle lithium-ion battery
problems/opportunities
Meeting the rapidly growing demand for
critical battery materials

4. 4
Recycling Imperative with Massive Electrification Ramp
690
1,499
1,608
2021 2025 2030
Shortage of domestic
lithium, cobalt and nickel
Global EV
and Battery
Adoption
Manufacturing scrap and
end-of-life battery waste
Electric Vehicle Sales
(millions)
Critical need for scalable,
environmentally friendly
recycling solution
Source: Benchmark Mineral Intelligence, BloombergNEF Electric Vehicle Outlook 2021.
Lithium-Ion Batteries for Recycling
(Thousands of tonnes/year)
5% - 10% of battery production is typically rejected as waste during the manufacturing process, creating
significant recycling needs during EV ramp-up, in addition to building end-of-lifecycle supply
3M
14M
28M
2020 2025 2030

5. 5
Sustainable Supply Chain
 Economies of Scale
By 2030, the market will need to recycle
up to 850 full packs per hour
Cell-to-Pack and Cell-to-Chassis
architectures are emerging
Will it be practical to discharge /
manually dismantle each pack
* Based on Total Addressable Market Data from Benchmark Minerals and Li-Cycle Analysis
Total Addressable Market in 2021
Market to reach 3M+ Tonnes of
Batteries for Recycling in 2030*

6. 0
500
1,000
1,500
2,000
2,500
3,000
2022 2025 2030
GWh
NA EU
6
Construction (Spoke)
Operational (Spoke)
Rochester Hub (in construction)
GWh Demand centers(6)
Legend
North America and Europe Total
Announced Megafactory Capacity(6)
(1) Includes New York, Michigan, Ohio, Ontario and Quebec; (2) Includes Arizona, California, Texas and Nevada; (3) Includes Alabama, Kentucky, North Carolina, Florida, Georgia and Tennessee;
(4) Includes Norway and Sweden; (5) Includes Germany; (6) BMI, Li-Cycle estimates and publicly announced nameplate capacities (as of September 2022)
Spoke & Hub Network: Global Footprint Strategically Expanding with
Market Growth
Corporate Regional Offices
~10x ~2,690
~272
~1,285
~5x
Ontario
New York
Arizona
Alabama
Germany
537 GWh(5)
Norway
205 GWh(4)
170 GWh(1)
184 GWh(2)
385 GWh(3)
Switzerland
Toronto (HQ)
Singapore

7. ALABAMA
Main line and Total: 10K tonnes
Q4 2022
ARIZONA
Main line: 10K tonnes; Total: 18K tonnes
Q2 2022
NEW YORK
Main line: 5K tonnes; Total: 18K tonnes
Q1 2021; Q4 2022 (upgrade)
7
ONTARIO
Main line and Total: 5K tonnes
Q3 2020; New site(1): 10K tonnes
Kingston, ON
Rochester, NY
Gilbert, AZ
First Generation Third Generation
Additionally, 80% fabricated Spoke equipment that can be deployed in future to existing or new site in North America per
customer demand; Alabama and Arizona each permitted for up to 25,000 tonnes
(1) Net Ontario Spoke capacity of 10K tonnes/year; New site to replace the 5K tonnes/year current Ontario Spoke for total additional 5K tonne/year capacity
Second Generation
Spoke: North America Total Operational Capacity of more than 50K
tonnes, Including Ancillary Processing Lines
Tuscaloosa,
AL

8. 8
Magdeburg Site Construction and Fabrication on Plan
GERMANY 30K tonnes  Brownfield site with access to renewable
energy supply
 Location with ease to transportation outlets
 Proximity to high density of battery and EV
manufacturing facilities
 Centrally located in the largest market for
both battery end-of-life and manufacturing
scrap in Europe
 Supports operational efficiencies and
multi-year battery supply agreements
with multiple leading global EV and
battery OEMs
 Operations for Line 1 expected to start in
calendar 2H 23, with Line 2 soon after
Spoke: Anchor in Europe; Redirecting Spoke Line from Norway to
Upsized Germany Driven by Near-Term Customer Demand
~50% of equipment fabrication completed for Line 1

9. 9
# Area Number
Processing Areas
100
200
300
400
500
600
800
900
Area 100: Black Mass receiving and leaching
area (“Leaching”); Graphite production
Area 200: Copper sulfide precipitation
(“Copper”)
Area 300: Aluminum and iron precipitation
(“Aluminum”)
Area 400: Manganese solvent extraction and
precipitation (“Manganese”)
Area 500: Cobalt solvent extraction and
crystallization (“Cobalt”)
Area 600: Nickel solvent extraction and
crystallization (“Nickel”)
Area 800: Sodium sulphate production
(“Sodium”)
Area 900: Lithium carbonate production
(“Lithium”)
Warehouse
Note: Area 700 includes the hygiene ventilation equipment and is spread across the Hub site.
Rochester Hub: Rendering of the Campus and Process Steps

10. ~
10
 Rochester Hub capital cost tracking
within the $486 million +/- 15% range
 Life-of-project spend of ~$155
million as of October 31, 2022
 Key Engineering, Procurement and
Construction Milestones
 >90% process equipment ordered
 ~65% of detailed engineering
completed
 Largely completed civil works,
underground utilities and
electrical infrastructure
 Main pipe rack foundation
complete for above ground
utilities
 Plant site roads sub-base
installation complete
 On track to commence commissioning
in late calendar 2023
Rochester Hub: Significant Progress to Date on Engineering,
Procurement, and Construction
Cobalt - steel completed Nickel – primary steel completed
Warehouse – ~75% complete Manganese - foundation complete Leaching - foundation complete
Steel, building materials stored on-site

11. Solving the global
battery recycling
problem.