Li-Cycle SPAC Presentation Deck

Transaction Overview OVERVIEW PIPE OVERVIEW CAPITAL STRUCTURE VALUATION Li-Cycle is a market leading lithium-ion battery resource recovery company and the largest lithium-ion battery recycler in NAM Peridot Acquisition Corp. is a blank check company sponsored by Carnelian Energy Capital targeting energy transition-focused opportunities Proceeds raised via Peridot merger and PIPE fully fund required capex to build Li-Cycle's Spoke-and-Hub facilities Fully committed, upsized $315 million PIPE PIPE investors include Neuberger Berman Funds, Franklin Templeton and Mubadala Capital. Also includes Peridot sponsor Carnelian Energy Capital, existing Li-Cycle investor Moore Strategic Ventures and global marketing and strategic off-take partner Traxys Li-Cycle's shareholders are rolling 100% of their equity Pro Forma for the transaction, Li-Cycle will have $566mm of cash and no debt(¹) Li-Cycle is commercial today and expects to be cash flow positive (net of capital expenditures) by 2024E Enterprise Value of $1,099mm, which is 10.1x of 2023E EBITDA or 3.2x 2024E EBITDA Represents a 73% discount to future value derived from 2024E EBITDA discounted to today Li-Cycle is a unique and compelling investment opportunity and is a market leader in the lithium-ion battery recycling sector Note: (1) Assumes no Peridot shareholder redemptions. Li-Cycle 5

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