Investor Presentaiton

Revenue, Adjusted EBITDA and Net Loss Reflect Accelerating Network to Meet Growth Targets Revenue (US$M) Adjusted EBITDA (1) (US$M) 10 09876 Revenue 54 1 3 20 Fiscal Q4 2020 Fiscal Q4 2021 0.0 2000 1800 -5.0 1600 1400 1200 1000 800 1 600 Black Mass Produced Adjusted EBITDA -10.0 -15.0 -20.0 400 200 0 -25.0 FY2020 FY2021 ◆ Black Mass Produced (Tonnes Black Mass) -30.0 Fiscal Q4 2020 Fiscal Q4 2021 FY2020 FY2021 Revenues increased due to: Increase in the quantities of batteries and battery scrap processed at the Kingston and Rochester Spokes and the continued onboarding of new battery supply customers Adjusted EBITDA and Net Loss reflect: Higher staffing and Spoke & Hub network development costs related to the growth and expansion of the business Revenues Q42021 $4.4M FY2021 · $7.4M Adjusted ($11.5M) EBITDA (1) ($25.4M) Net Loss ($205.0M) ($226.6M) (1) Adjusted EBITDA is a non-IFRS financial measure. See "Reconciliation of IFRS and Non-IFRS Results" for an explanation of Adjusted EBITDA and reconciliation to the comparable IFRS measure. Li-Cycle 6

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