Li-Cycle SPAC Presentation Deck

Electrification Drives Critical Demand for Battery Grade End Products Nickel (tonnes) 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 2020 Source: (1) 13.4x 2025 2030 IHS Markit - Li-lon Battery Recycling Report: 2020. The Wall Street Journal. Lithium Carbonate (tonnes) 1,150,000 900,000 650,000 400,000 150,000 2020 5.1x 2025 2030 Total Demand for Batteries - Cobalt (tonnes) 250,000 200,000 150,000 100,000 50,000 0 2020 2.3x 2025 "Any mining companies out there, please mine more nickel... go for efficiency, obviously environmentally-friendly nickel mining at high volume. Tesla will give you a giant contract for a long period of time, if you mine nickel efficiently and in an environmentally-sensitive way. So hopefully this message goes out to all mining companies. Please get nickel." 2030 75%+ of today's cobalt is sourced from the Congo, where a non-negligible portion of supply has been tied to child labor (1) Elon Musk, Co-Founder, Chief Executive Officer, Director, Tesla, Tesla's Q2 2020 Earnings Call Li-Cycle 12

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