Li-Cycle Results Presentation Deck
Reconciliation of IFRS and Non-IFRS Results
Adjusted EBITDA
Net Profit (Loss)
Income Tax
Depreciation
Interest Expense
Interest Income
EBITDA (Loss)
Three months ended June 30,
2023
($35.3)
$4.0
$3.6
($4.2)
($31.9)
($0.5)
U.S. dollar amounts in millions)
($7.3)
($39.7)
2022
($28.1)
$2.6
$3.9
($1.3)
($22.9)
Six months ended June 30,
2023
2022
($74.7)
($38.2)
$0.1
$7.7
$7.5
($9.2)
($68.6)
$0.3
$4.5
$7.6
($1.5)
($27.6)
Non-recurring Costs
Fair Value (Gain) Loss on Financial Instruments (1)
($6.6)
($7.7)
($30.6)
Adjusted EBITDA (Loss)
($74.9)
1. Fair value (gain) loss on financial instruments relates to convertible debt, and to warrants, which were redeemed and no longer outstanding as of June 30, 2022.
($22.6)
($50.2)
Li-Cycle reports its financial results in accordance with the International Financial Reporting Standards ("IFRS"). The Company makes references to certain non-IFRS measures,
including adjusted EBITDA. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be
comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a
further understanding of the Company's results of operations from management's perspective. Accordingly, it should not be considered in isolation nor as a substitute for the
analysis of the Company's financial information reported under IFRS. Adjusted EBITDA is defined as earnings before depreciation and amortization, interest expense (income),
income tax expense (recovery) adjusted for items that are not considered representative of ongoing operational activities of the business and items where the economic impact of
the transactions will be reflected in earnings in future periods. Adjustments relate to fair value (gains) losses on financial instruments and certain non-recurring expenses. Foreign
exchange (gain) loss is excluded from the calculation of Adjusted EBITDA.
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