CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained in this communication 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 1993, 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 “may”, “will”, “expect”, “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 may include, for example, statements about the development and operation
of the Ohio Spoke, including the anticipated timing for construction and commissioning of the Spoke. These statements are based on various assumptions, whether or not identified in this communication, which
Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or 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.
These forward-looking statements are provided for the purpose of assisting
readers in understanding certain key elements of Li-Cycle’s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by
any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
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 are not guarantees of future performance.
Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: the Ohio Spoke, Li-Cycle’s Arizona and Alabama Spokes, its
Rochester Hub and other future projects are subject to development risks, including with respect to engineering, permitting, procurement, construction, materials and labor costs, commissioning and ramp-up and,
in the case of the Ohio Spoke, any delays associated with the construction and commissioning of Ultium Cells’ Ohio battery cell manufacturing mega-factory; Li-Cycle’s inability to develop its Spokes
and its Rochester Hub in a timely manner or on budget and to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery
manufacturing scrap from its partners and other sources; the Ohio Spoke not meeting expectations with respect to its productivity and the ability of Li-Cycle to optimize costs and logistics; market
developments (such as increasing EV battery manufacturing volumes in the jurisdictions in which Li-Cycle and its affiliates operate, and trends around battery chemistries in EV applications); Li-Cycle’s failure to materially increase recycling capacity and efficiency; 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 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 commercially reasonable terms or at all when it needs them; Li-Cycle expects 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
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