Investor Presentaiton

Deploying Initial European Spokes in Lockstep with Market Demand Current European Mega-factory Capacity Projected to grow from 37 GWh (2021) to >930 GWh by 2030(1) EV Penetration Rate (2) EV Sales Fraction Low High 35 GWh GWh TBD 740 GWh 472 GWh TBD ** 43 GWh 47.40 GWh 40.5 GWh 125 GWh 476 GWh 465 GWh 410 GWh 24 GWh 4 30 GWh 64 GWh GWh 44100 GWh 24 GWh 10 GWh 2.5 GWh 40 GWh - Location TBD 10 GWh 30 GWh 470 GWh 430 GWh 3 GWh - Russia 450 GWh 740 GWh Company sourced announcements and Li-Cycle estimates. 478 GWh Announced Norway Spoke JV with Morrow, ECO STOR (1) (2) EV Penetration by Country from International Energy Agency (IEA). (3) For manufacturing scrap demand estimate, assumes a conversion rate of 5,000 tpa LIB equivalent to 1 GWh and a scrap rate of 10%; assuming a range of 5% - 10% recycling scrap would yield 232,500 - 465,000 tpa LIB of material. Scrap estimate based on Li-Cycle estimates, based on company-sourced announcements. Advanced Development Germany Spoke Manufacturing Scrap and Growing Lithium-ion Battery Recycling Demand Presents Robust Opportunity in Europe 2030 EU GWh Estimate 2030 EU Scrap Estimate LICY 2025 Initial Spoke Capacity Addressable Delta in Scrap Demand Alone Announced or Existing Battery Mega-factory ✰✰Spoke (10,000 tpa LIB) >930 GWh >465,000(1,3) tpa LIB 20,000 tpa LIB -445,000 tpa LIB Li-Cycle 10

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