Li-Cycle SPAC Presentation Deck

Li-Cycle Financial Projections Revenue ($US in millions) $12 $1 $11 2021E $75 $7 $68 2022E +82% CAGR Contracted Off-Take $264 $51 $213 2023E $700 $394 $306 2024E Uncontracted Revenue $958 $655 $303 2025E EBITDA ($US in millions) Commentary NM ($6) 2021E 4% $3 2022E EBITDA 41% $109 2023E 48% $339 2024E EBITDA Margin Cumulative EBITDA, 2021E-2025E = $985mm Cumulative CAPEX, 2021E-2025E = $947mm Cumulative Cash Flow (EBITDA - CAPEX), 2021E-2025E = $38mm 0 Includes consideration of significant CAPEX spend in 2025 but not the associated EBITDA that will come in the years to follow Peak capital need of $459mm from 2021E-2023E 0 The net proceeds from this transaction enable the complete funding of Li-Cycle's business plan 56% $541 2025E Li-Cycle 28

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