This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230711949671\/en\/<\/a><\/p>\n Tim Johnston, Li-Cycle co-founder and Executive Chair, and Jianhua Liu, EVE Energy co-founder and CEO, at the signing ceremony for a memorandum of understanding to collaborate and explore lithium-ion battery recycling solutions for EVE battery materials. (Photo: Business Wire)<\/p>\n<\/div>\n \nThe MOU includes a framework to explore global sustainable recycling solutions for EVE lithium-ion battery materials in the North American market, as well as battery manufacturing scrap generated at EVE\u2019s planned lithium-ion battery cell manufacturing facilities in Malaysia and Hungary. The collaboration is also expected to support EVE\u2019s environmental goals through a closed-loop supply solution and continue to support the global movement towards electrification. EVE is one of the world\u2019s largest lithium-ion battery cell manufacturers, with global manufacturing facilities and customers that include global automakers.<\/p>\n \n\u201cEVE Energy places great importance on expanding our presence in global markets,\u201d said Mr. Jianhua Liu, co-founder and CEO of EVE Energy. \u201cTo better serve our international customers, we are going to construct green battery factories in Europe and Southeast Asia. To achieve this goal, we are implementing strategic initiatives such as industry chain integration, team internationalization, and the application of international operational models. We are pleased to partner with Li-Cycle to discuss the establishment of a high environmental standard battery recycling system to support sustainable development.\u201d<\/p>\n \n\u201cWe are excited to collaborate with EVE, a proven global leader in lithium-ion battery cell manufacturing, to provide a sustainable resource recovery solution for lithium-ion battery products and manufacturing scrap,\u201d said Tim Johnston, co-founder and Executive Chair of Li-Cycle. \u201cLi-Cycle continues to scale as the world\u2019s preferred recycling partner and the MOU demonstrates how EVE recognizes our capabilities in delivering world-class lithium-ion battery recycling solutions with high efficiency, low emissions, and minimal waste generation to support a sustainable lithium-ion battery ecosystem. Li-Cycle continues to expand our business strategically and flexibly in line with our growing global customer base.\u201d<\/p>\n \nIn addition to its large lithium-ion battery manufacturing footprint in Asia, EVE has announced plans to build its first European battery manufacturing facility in Hungary, which is expected to supply a major global automaker for the production of electric vehicles (\u201cEVs\u201d). EVE has also announced plans to build a lithium-ion battery cell manufacturing facility in Malaysia.<\/p>\n \nLi-Cycle\u2019s patented Spoke & Hub Technologies\u2122 enables a safe and environmentally friendly way to recycle lithium-ion batteries and battery manufacturing scrap and recover key battery-grade materials, including lithium, nickel and cobalt. Li-Cycle\u2019s overall process includes an efficient environmental footprint, minimal direct greenhouse gas emissions, and minimal wastewater discharge, which helps position Li-Cycle\u2019s innovative technologies as a strong recycling solution for EVE\u2019s battery cell manufacturing capabilities.<\/p>\n About Li-Cycle Holdings Corp.<\/b><\/p>\n \nLi-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company and North America\u2019s largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. The Company leverages its innovative, sustainable, and patented Spoke & Hub Technologies\u2122 to provide a safe, scalable, customer-centric solution to recycle all different types of lithium-ion batteries. Established in 2016, and with major customers and partners around the world, Li-Cycle recovers critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. For more information, visit https:\/\/li-cycle.com\/<\/a>.<\/p>\n About EVE Energy<\/b><\/p>\n \nFounded in 2001 and listed in Shenzhen in 2009, EVE Energy has developed into a global player in the market, providing core technologies and comprehensive solutions for both consumer and power batteries, especially in the Internet of Things and the energy internet. Currently, EVE Energy has set up a research institute with 60 doctors and over 4,100 interdisciplinary R&D engineers in materials, electrochemistry, structure design, and electronic circuit design, obtained over 5,900 national patents in China. The company launched a carbon reduction roadmap with a series of low-carbon reduction efforts in energy use, the manufacturing process, the supply chain, and resource management, and was named a “National Green Factory.” For more information about EVE Energy, please visit https:\/\/www.evebattery.com\/en<\/a>.<\/p>\n 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 about: the expectation that the collaboration between Li-Cycle and EVE will continue to support the global movement towards electrification and that it will provide a sustainable resource recovery solution for lithium-ion battery products and scrap; the expectation that Li-Cycle will continue to scale as the world\u2019s preferred recycling partner; and the expectation that Li-Cycle will continue to expand its business strategically and flexibly in line with its growing global customer base. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the timing, scope and cost of Li-Cycle\u2019s projects; the processing capacity and production of Li-Cycle\u2019s 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 retain and hire key personnel and maintain relationships with customers, suppliers and other business partners; general economic conditions; currency exchange and interest rates; compensation costs; and inflation. There can be no assurance that such estimates or 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 These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle\u2019s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle\u2019s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.<\/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 other future projects including its Spoke network expansion projects 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 acceptable terms or at all when it needs them; Li-Cycle expects to continue 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\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; unfavorable 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. These and other risks and uncertainties related to Li-Cycle\u2019s business are described in greater detail in the section entitled \u201cRisk Factors\u201d and \u201cKey Factors Affecting Li-Cycle\u2019s Performance\u201d in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.<\/i><\/p>\n Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle\u2019s assessments 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\/20230711949671\/en\/<\/a><\/span><\/p>\n Investor Relations![\"Tim](\"https:\/\/mms.businesswire.com\/media\/20230711949671\/en\/1837886\/4\/EVE_MOU1.jpg\")
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Nahla A. Azmy
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Sheldon D\u2019souza
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investors@li-cycle.com<\/a><\/p>\n
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