Li-Cycle SPAC Presentation Deck

Fully Committed, Upsized $315mm PIPE Key Transaction Terms ■ 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 Peridot currently has $300 million in cash held in trust account $1.1 billion pro forma enterprise value with strong balance sheet 10.1x of 2023E EBITDA or 3.2x of 2024E EBITDA Proceeds raised fully fund required capex to build Li-Cycle's Spoke-and-Hub facilities Pro Forma Ownership Pro Forma Ownership @ $10.00 / Share SPAC Public Shareholders Peridot Founder Shares PIPE Shareholders Existing Li-Cycle Shareholders Total Shares (1) Shares (mm) % Ownership ($US in mm) 30 18% $300 8 32 98 167 Note: (1) Pro forma ownership assumes no redemptions by SPAC shareholders. 5 19 59 100% 75 315 975 $1,665 Pro Forma Valuation Pro Forma Valuation Share Price Pro Forma Shares Outstanding Equity Value Plus: Debt Less: Cash Enterprise Value 2023E EBITDA EV / 2023E EBITDA 2024E EBITDA EV / 2024E EBITDA Pro Forma Sources & Uses Total Sources Peridot Cash in Trust PIPE Peridot Founder Shares Stock Consideration to Exisiting Li-Cycle Shareholders Total Sources Total Uses Cash to Balance Sheet Stock Consideration to Exisiting Li-Cycle Shareholders Estimated Fees & Expenses Peridot Founder Shares Repayment of Business Development Bank of Canada Debt Total Uses ($US in mm) $10.00 167 $1,665 0 (566) $1,099 $109 10.1x $339 3.2x ($US in mm) $300 315 75 975 $1,665 $566 975 44 75 $1,665 Li-Cycle 30

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