\n\u201cWe believe that Susan will be a great addition to Li-Cycle\u2019s Board,\u201d said Tim Johnston, Li-Cycle\u2019s co-founder and Executive Chair. \u201cShe brings deep expertise in human resources management at rapidly growing companies and we are excited to welcome her to the Company\u2019s Board. We believe that her experience and insights will help Li-Cycle as we continue to scale our Spoke & Hub network to serve our customers around the world.\u201d\n<\/p>\n
\n\u201cI\u2019m excited at the opportunity to join Li-Cycle\u2019s Board and I\u2019m looking forward to working closely with the Company\u2019s management team and Board members,\u201d said Ms. Alban. \u201cThrough its innovative Spoke & Hub network, Li-Cycle supports the acceleration of the global clean energy transition and I\u2019m excited to help drive that change.\u201d\n<\/p>\n
\nMs. Alban currently serves as the Chief People Officer and an Operating Partner at Renegade Partners, where she supports the firm’s portfolio companies across all areas of Human Resources. Ms. Alban brings deep expertise in operations and product, especially around launches. Previously, Ms. Alban was the VP of People at Zume, a General Manager at Uber, as well as a group product manager at eBay, working in partnership with PayPal to drive improvements across eBay\u2019s e-commerce funnel. Ms. Alban started her career at McKinsey & Company, where she was a management consultant for healthcare and consumer products businesses, with a focus on M&A and growth. After McKinsey, she joined CHB Capital Partners, a middle market private equity firm, where she invested and worked closely with CHB\u2019s portfolio companies. Ms. Alban has a degree in Economics from Duke University and an MBA from Stanford Graduate School of Business.\n<\/p>\n
\nMs. Alban was nominated by Peridot Acquisition Sponsor, LLC as one of its two nominees for election to the Board and is expected to be designated as an independent director. In addition to bringing skills and expertise in human resources and executive compensation matters, Ms. Alban\u2019s addition to the Board is expected to enhance the balance of both independence and gender-diversity on the Board.\n<\/p>\n
\n\u201cOn behalf of the Board and management team, we would like to take this opportunity to thank our outgoing directors, Mr. Rick Findlay and Mr. Alan Levande, for their service to Li-Cycle,\u201d said Mr. Ajay Kochhar, Li-Cycle\u2019s co-founder and Chief Executive Officer. \u201cRick has helped guide the Company since its early days in 2017. Alan\u2019s involvement started with his work at Peridot which was instrumental in Li-Cycle becoming a public company in August 2021. We\u2019re grateful for their contributions and dedication to the Company.\u201d\n<\/p>\n
\nLi-Cycle believes that a Board size of nine members continues to be the optimal Board size for the Company for fiscal 2023. The Company is in the process of recruiting an additional independent director with audit committee financial expertise from a pool of candidates, all of whom are female. That appointment, which is expected later in 2023, is expected to enhance the Board\u2019s experience in relation to finance matters, increase the level of independence on the Board and allow the Company to achieve its 30% target for gender-diversity on the Board.\n<\/p>\n
About Li-Cycle Holdings Corp.<\/b><\/p>\n
\nLi-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies\u2122 to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https:\/\/li-cycle.com\/<\/a>.\n<\/p>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n Certain statements contained in this press release may be considered \u201cforward-looking statements\u201d within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as \u201cbelieve\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201ccontinue\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cexpect\u201d, \u201cshould\u201d, \u201cwould\u201d, \u201ccould\u201d, \u201cplan\u201d, \u201cpotential\u201d, \u201cfuture\u201d, \u201ctarget\u201d or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements <\/i>about<\/i>the skills and experience of Li-Cycle\u2019s Board of Directors, <\/i>Li-Cycle\u2019s ability to continue t<\/i>o <\/i>scale its Spoke & Hub network to serve its customers and the expected nomination of an additional independent director in 2023, that individual\u2019s profile, and the expectation that the appointment would allow the Company to meet its 30% target for gender-diversity on the Board<\/i>. These statements are based on various assumptions, whether or not identified in this press release, made by Li-Cycle management, including but not limited to assumptions regarding the timing, scope and cost of Li-Cycle projects; <\/b>the processing capacity and production of Li-Cycle facilities; Li-Cycle\u2019s ability to source feedstock and manage supply chain risk; Li-Cycle\u2019s ability to increase recycling capacity and efficiency; Li-Cycle\u2019s ability to obtain financing on acceptable terms; Li-Cycle\u2019s ability to obtain $375 million loan from the U.S. Department of Energy\u2019s Advanced Technology Vehicles Manufacturing program; Li-Cycle\u2019s ability to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners; expected regulatory processes and outcomes in connection with Li-Cycle\u2019s business; general economic conditions; currency exchange and interest rates; compensation costs; and inflation. There can be no assurance that such assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.<\/i><\/p>\n Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle\u2019s inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; Li-Cycle\u2019s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle\u2019s inability to manage future global growth effectively; Li-Cycle\u2019s inability to develop the Rochester Hub and its Spoke network in a timely manner or on budget or that those projects will not meet expectations with respect to their productivity or the specifications of their end products; Li-Cycle\u2019s failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; one or more of Li-Cycle\u2019s current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle\u2019s capital requirements in the future not being available to Li-Cycle on commercially reasonable terms or at all when it needs them; Li-Cycle expects to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle\u2019s operations; Li-Cycle\u2019s inability to maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for \u201cgreen\u201d energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle\u2019s products; changes in the volume or composition of feedstock materials processed at Li-Cycle\u2019s facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle\u2019s revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle\u2019s insurance may not cover all liabilities and damages; Li-Cycle\u2019s heavy reliance on the experience and expertise of its management; Li-Cycle\u2019s reliance on third-party consultants for its regulatory compliance; Li-Cycle\u2019s inability to complete its recycling processes as quickly as customers may require; Li-Cycle being subject to the risk of litigation or regulatory proceedings; Li-Cycle\u2019s inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle\u2019s operating and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings; unfavourable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events; failure to protect or enforce Li-Cycle\u2019s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle\u2019s failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting.<\/i><\/p>\n These and other risks and uncertainties related to Li-Cycle\u2019s business and the assumptions on which the forward-looking information is based are described in greater detail in the sections entitled \u201cItem 3D. Risk Factors\u201d and \u201cItem 5. Operating and Financial Review and Prospects\u2014Key Factors Affecting Li-Cycle\u2019s Performance\u201d and elsewhere in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada on February 6, 2023.<\/i><\/p>\n Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable law. These forward-looking statements should not be relied upon as representing Li-Cycle\u2019s assessment as of any date subsequent to the date of this press release.<\/i><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230317005052\/en\/<\/a><\/span><\/p>\n Investor Relations<\/p>\n
\n<\/span>
Nahla A. Azmy
\n
Sheldon D\u2019souza
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investors@li-cycle.com
\n<\/a><\/p>\n
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