LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully-integrated self storage company, today announced that H. Michael Schwartz, the Company’s Chairman and CEO, will participate in a panel presentation at the Jefferies Inaugural Real Estate Conference in a panel titled: Self-Storage: Migration, Movement & M&A…Secular Growth or When Will it Slow. The panel will be webcast live on December 15, 2021 at approximately 2:30 pm Eastern Time to registered conference attendees. Mr. Schwartz, along with other representatives of the Company, will also be hosting meetings with registered investors at the conference.

About SmartStop Self Storage REIT, Inc. (SmartStop)

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of December 13, 2021, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 160 properties in 19 states and Ontario, Canada and comprising approximately 109,000 units and 12.3 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

MADRID–(BUSINESS WIRE)–#BathroomTaps–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced that one of its affiliates acquired Standard Hidraulica (“STH” or the “Company”), an international industrial group with a leading presence in the plumbing supplies category, previously part of industrial technology company Aalberts N.V. which is listed at the Euronext stock exchange in Amsterdam, the Netherlands. H.I.G. plans to accelerate the Company’s growth and lead a consolidation in its core markets.

STH is headquartered in Montcada i Reixac (Barcelona, Spain), and operates subsidiaries in Pinto (Madrid, Spain), United Kingdom (Leigh, Greater Manchester), South Africa (Johannesburg, Port Elizabeth and Cape Town), and Greece (Acharnes, Athens).

Jaime Bergel, Managing Director of H.I.G. Spain, said: “We are committed to supporting the senior leadership team of STH in achieving their ambitious business plan which should translate in substantial growth over the coming years. As part of the transaction, H.I.G. will support STH in its transition to an independent company while accelerating its customer-focused expansion in the local and international markets.”

Jaume Llacuna, CEO of STH said: “The investment by H.I.G. is great news for STH and its stakeholders. STH is recognised as one of the market leaders across many of our businesses and the categories that we operate in. I am very excited to work with the team at H.I.G. to capitalise on the enormous potential for growth we have within our local and international geographies. We are well positioned to push forward with our plans for organic and inorganic growth. Our collective commitment, energy and passion will be at the heart of our future success. Together with H.I.G., we look forward to building an even stronger business in the coming years.”

About Standard Hidraulica

STH was founded in 1975 in Montcada i Reixac (Barcelona). With a philosophy based on product quality, customer service, constant technological research and respect for the environment, STH has become a reference partner in the water and gas connection and control, kitchen and bathroom taps in both residential and non-residential areas, and civil works such as water and gas distribution networks. STH is certified with ISO 9001 and ISO 14001. For more information, please refer to the STH website: https://www.standardhidraulica.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

H.I.G. European Capital Partners Spain is a legally independent advisor to H.I.G. Capital LLC, H.I.G. Europe Capital Partners, L.P., H.I.G. Europe Capital Partners II, L.P. and H.I.G. Europe Capital Partners III, L.P.

^{* Based on total capital commitments managed by H.I.G. Capital and affiliates.}

Contacts

Jaime Bergel

Managing Director

jbergel@higcapital.com

H.I.G. Capital

Antonio Maura 4 – 4^th Floor

28014 Madrid

P +34 91 737 50 50

www.higcapital.com

The organization has been acknowledged as part of the BC Transportation Contractor of the Year Awards of Excellence

VANCOUVER, British Columbia–(BUSINESS WIRE)–Each year, the Province celebrates organizations that have made outstanding contributions to British Columbia’s transportation system. This year, due to the pandemic, the Ministry presented awards for both 2020 and 2021, with Lafarge Canada Inc. nominated four times for Contractor of the Year for the two-year period.

“We’re thrilled with these nominations and the recognition it gives to our teams across the province,” shares Lincoln Kyne, Vice President & General Manager, BC. “The Ministry of Transportation & Infrastructure builds infrastructure that needs to last decades and our commitment as a contractor is to deliver high quality value projects for our Province. These awards reflect that commitment.”

Reflecting the organization’s desire to put health and safety at the forefront of all operations, Lafarge was the 2020 Workplace Health and Safety Award Winner. “The perimeter lighting was a game changer,” shares Kyne. “Now it doesn’t matter where our teams are working, or what the weather conditions are – they’re safe, continually.” Lafarge won for their perimeter lighting system, which provides a distinctive red line of light, 10 feet around asphalt paving rollers to create an operator-only safe workspace. As well, Lafarge’s new personal hard hat lighting system for asphalt paving technicians was acknowledged in the award.

Lafarge was also a winner in the 2021 Grading category for the Lower Lynn Creek Connectivity Project. “The site is incredibly busy,” says Kyne. “There are more than 120,000 vehicles passing through every day. It took a lot for us to not only coordinate construction phases, but to make sure that everyone involved stayed safe, that highly sensitive environmental considerations were managed and risks mitigated, and that we stuck to the schedule with the least amount of disruption for the community.”

Lafarge Canada was also nominated as the 2020 Runner Up for the massive Mountain Highway Interchange Project and the 2021 Runner Up for asphalt resurfacing at Hwy 97 Vernon Arterial and Old Kamloops Road. Both projects involved complex traffic rerouting and stakeholder engagement strategies, and were completed on schedule. “We work across the Province,” explains Kyne. “We are familiar with the challenges that come with these projects and specifically in the communities they impact. We are fully committed to helping the industry keep improving and innovating.”

The awards were presented to Lafarge Canada at MoTI’s awards ceremony on December 3, 2021. “It’s an honor to accept these awards,” says Kyne, “and it’s a great push for us to keep on being the best we can be.”

About the B.C. Transportation Contractor of the Year Awards of Excellence

2020 Workplace Health and Safety – 2020 – WINNER

Lafarge GVA Construction – James Silver, Mark O’Callaghan, Shaun Marsden, Mike Darby

Lafarge Canada Inc. introduced the red perimeter lighting system and ILLUMAGEAR Halo SL, which increases the visibility of both ground personnel and equipment. The red perimeter lighting system provides a distinctive red line of light, 10 feet around asphalt paving rollers to creating an operator-only safe workspace. The red light provides other ground personnel and members of the public with early indication that they are in an unsafe position. The lights are mounted on the equipment, which allows the illuminated workspace to move with the equipment. Lafarge Canada Inc. also mandated use of the ILLUMAGEAR Halo SL, a personal hard hat lighting system for asphalt paving on-site quality control technicians. This system provides a 360-degree ring of light that attaches to hardhats, is visible for up to 400 metres away and provides supplementary task lighting to the user.

Grading – 2020 – Runner Up

Lafarge GVA Infrastructure – Project Manager – Gord Bird

Mountain Highway Interchange Project – This $36M project included removing and replacing the existing two lane underpass to a five lane underpass. The improvements included new on and off ramps to Highway 1, two soil nail walls (up to 12m high), three cast in place concrete retaining walls, pedestrian tunnel, capacity improvements to Keith Road and Mountain Highway, pedestrian and cyclist improvements through the construction of multi-use pathways, as well as major drainage and utility upgrades and environmental enhancements. Lafarge introduced several sustainable options including the use of Aggneo on one of the first major highway infrastructure projects in the province.

Grading – 2021 – WINNER

Lafarge GVA Infrastructure – Project Manager – Paulo Perez

Lower Lynn Creek Connectivity Project – This $64M project included the reconstruction of the existing Highway 1 at Keith Road Interchange and new westbound collector lanes. Construction included a new five-lane Keith Road underpass, realignment of Keith Road, reconstruction of ramps, reconstruction of the Lillooet/Seymour Parkway intersection, two new Highway 1 westbound collector lanes, two new Highway 1 Lynn Creek Bridges, new Mountain Highway eastbound on-ramp and the relocation of Keith Creek. Over 120,000 vehicles passed through the site each day. There were extensive utility relocations and upgrades, complex construction staging and traffic management and nearby sensitive environmental habitat, all within a densely populated and constrained area. Lafarge worked with stakeholders to address challenges that arose on this complex project through innovation and collaboration.

Paving – 2021 – Runner Up

Vernon Paving (a division of Lafarge Canada Inc.) – Jody Bridge, Scott Horsfield

Asphalt Surfacing Hwy 97 Vernon Arterial and Old Kamloops Road – The $4M project consisted of a section of Highway 97 from north of 43rd Avenue to College Way and approximately six kilometers along Old Kamloops Road was assessed as requiring resurfacing and road repairs. The project also included the construction of approximately 185 meters of right-turn lane on Highway 97 onto 43rd Avenue and median extension at 37th Avenue. The road repairs and resurfacing resulted in a smoother riding surface and improved dust control. This project improved safety and efficiency of the roadway and increased corridor capacity, mobility and reliability. Vernon Paving (Lafarge) took a proactive approach to protect the environment and effectively addressed environmental concerns that arose.

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, Holcim. With 6,000 employees and 350 sites across Canada, our mission is to provide construction solutions that build better cities and communities. The cities where Canadians live, work and raise their families along with the community’s infrastructure benefit from the solutions provided by Lafarge consisting of aggregates, asphalt and paving, cement, precast concrete, ready-mix concrete, and road construction. www.lafarge.ca

Contacts

Media

Jill Truscott

Manager, Communications – Western Canada

Lafarge Canada Inc.

300, 115 Quarry Park Road SE

Calgary, AB T2C 5G9

Mobile: 403.354.5063

jill.truscott@lafarge.com

Company will add 72MW of IT capacity in Frankfurt and Berlin

DENVER & LUXEMBOURG–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced the development of additional campuses in two of its existing strategic EMEA markets. With the continued increase in customer demand for premium hyperscale data center space across Europe, Vantage has broken ground on second campuses in both Frankfurt and Berlin. In addition, the company opened its first campus in Zurich.

In the most sought-after data center market in Europe, Vantage has begun construction of a second Frankfurt campus. This five-acre (two-hectare) campus, located in Raunheim, will provide 40MW of critical IT capacity and total more than 355,000 square feet (33,000 square meters) once complete. The initial phase of this five-story facility is scheduled for delivery in the fall of 2022. Vantage is also continuing to develop its flagship Frankfurt campus, located in Offenbach, approximately 30 kilometers from Raunheim. Once fully developed, both campuses will offer hyperscalers, cloud providers and large enterprise customers a total of 95MW of IT capacity in the Frankfurt region.

Vantage has also begun construction of a second campus in Berlin. Located only 20 kilometers from its first Berlin campus and 10 kilometers from the Brandenburg International Airport, the two-building campus will sit on 12 acres (five hectares) and provide 32MW of critical IT capacity. Both facilities will consist of two stories and feature more than 260,000 square feet (24,000 square meters) combined. The initial phase is scheduled to be operational in the summer of 2022. Development continues at the company’s first Berlin campus as well. Once fully developed, both campuses will offer 64MW of IT capacity.

Like all of Vantage’s data centers, these new developments will prioritize reliability, sustainability and environmental responsibility and will follow the company’s standardized building design, which allows for rapid time to market to meet customer demand. The campuses will employ hyper-efficient cooling with outside air economization using minimal water. This approach, along with other design features, enables Vantage to achieve industry-leading power usage effectiveness (PUE) and a water usage efficiency (WUE) of virtually zero. Both new campuses will offer customers renewable energy options and include electric vehicle charging stations, drought-resistant landscaping and motion-sensor LED lighting. Vantage has committed to reaching net zero carbon by 2030 through its comprehensive sustainability program.

“Our new developments in Frankfurt and Berlin are testaments to our significant growth throughout EMEA in less than 24 months in the market,” said Antoine Boniface, president, Vantage EMEA. “Our portfolio now consists of nine campuses throughout EMEA, including our recently announced development in South Africa. Demand from our customers continues to increase in these major economic centers, and our ability to scale quickly ensures our sustainable, state-of-the-art facilities will be ready to meet our customers’ business needs.”

In addition, Vantage recently opened the first of four data centers on its growing Swiss campus sited in Winterthur just 25 kilometers northeast of downtown Zurich. Once fully developed, the seven-acre (three-hectare) campus will offer 40MW of IT capacity to customers.

For more information on Vantage Data Centers’ campuses, please visit: https://vantage-dc.com/data-centers/.

About Vantage Data Centers

Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.

For more information, visit https://vantage-dc.com/.

Contacts

Press Contacts
Mark Freeman

Vantage Data Centers

mfreeman@vantage-dc.com
+1 202-680-4243

Nigel Parker

Fulfil Communications (U.K.)

nigelp@fulfilcom.com
+44 (0) 7778 872 457

Li-Cycle to Increase Hub Facility’s Input Processing Capacity by Over 40%, to Meet Increasing Market Demand

Li-Cycle and LG Enter into non-binding Letter of Intent for “Closed-Loop” Commercial Agreements to Recycle their Battery Materials and Offtake Battery-Grade Nickel over 10 Years

LG to make a $50 million Equity Investment in Li-Cycle upon Completion of Commercial Agreements

Completed Hub Expected to Position Li-Cycle as a Leading Producer of Battery Grade Nickel, Cobalt, and Lithium in North America

TORONTO–(BUSINESS WIRE)–Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), a North American leader in lithium-ion battery resource recovery, today announced that it will proceed with the construction of its first commercial Hub facility, which is being developed within the Eastman Business Park near Rochester, New York (the “Hub”).

In view of rapidly growing demand for lithium-ion battery recycling, Li-Cycle will increase the input processing capacity of the Hub by over 40%, from 25,000 tonnes to 35,000 tonnes of “black mass” annually (equivalent to approximately 90,000 tonnes of lithium-ion battery equivalent feed annually). With its increased capacity, the Hub will be able to process battery material that is equivalent to approximately 225,000 electric vehicles (“EVs”) per year.

The Company estimates that the Hub will require a total capital investment of approximately $485 million (+/-15%), which can be funded from existing balance sheet cash. Li-Cycle also expects to explore various opportunities to optimize its capital structure, for example, with potential credit from government-related institutions.

The Hub will be fully integrated with Li-Cycle’s existing network of Spoke facilities across North America. Li-Cycle’s Spoke facilities take in end-of-life batteries and battery manufacturing scrap to produce “black mass”, an intermediate product containing valuable metals such as nickel, cobalt and lithium. The Hub will transform that black mass into critical battery grade materials to be returned back to the lithium-ion battery supply chain. Li-Cycle’s Spoke facilities will be the primary suppliers of feedstock for the Hub. Once the Hub is fully operational, Li-Cycle expects to be the #1 or #2 domestic U.S. based supplier of battery grade advanced materials.

The total addressable market for lithium-ion battery recycling in North America continues to accelerate as battery manufacturers are investing to build the supply chain to support electrification. Megafactory investments are now projected to surpass 500 GWh capacity by 2025, approximately 11x the current capacity. Based on independent industry forecasts (including from Benchmark Mineral Intelligence) and Li-Cycle’s internal analysis, Li-Cycle estimates that there could be nearly 250,000 tonnes of lithium-ion batteries available for recycling from manufacturing scrap in North America alone by 2025. Upsizing the Hub enhances the Company’s ability to meet the increasing commercial needs of leading global customers within the lithium-ion battery supply chain.

“We believe the upsizing of our commercial Hub facility is timely, to capture growth from heightened demand with the mainstreaming of electrification in North America driving significant new battery megafactory deployments. Even with the increased capital investment, we expect the Hub project to deliver highly accretive returns,” said Li-Cycle’s President, CEO, and co-founder, Ajay Kochhar. “This is an exciting time for Li-Cycle as we advance the strategic execution on our integrated Spoke & Hub network and enable critical commercial solutions to the growing needs for domestic supply of battery materials in North America.”

Multi-Year Strategic Collaboration with LG

Li-Cycle, LG Chem, Ltd. (“LGC”) and LG Energy Solution, Ltd. (“LGES”) entered into a manufacturing scrap supply and nickel sulphate off-take agreement non-binding letter of intent. With this proposed collaboration, LGES and Li-Cycle intend to cooperate on recycling nickel-bearing lithium-ion battery scrap and certain other lithium-ion battery materials to create a closed-loop ecosystem. Over a ten-year period, beginning in 2023, Li-Cycle will supply LGES and LGC with 20,000 tonnes of nickel contained in nickel sulphate from our Rochester Hub facility.

Concurrently with the entering into of definitive commercial agreements for such collaboration, LGC and LGES together will make a $50 million equity investment in Li-Cycle at a price of $11.32/per common share, upon completion of the commercial agreements by March 13, 2022. These proposed commercial arrangements and the investment represent a strong validation of Li-Cycle’s business model by one of the premier global strategic players in the lithium-ion battery space.

Project Highlights

Through close collaboration with customers on their demand and product needs, Li-Cycle has finalized and approved the Definitive Feasibility Study for the Hub, including a fully-loaded estimated capital investment of approximately $485 million (+/-15%). The larger Hub optimizes project economics and capital intensity and includes best-in-class environmental improvements.

Key design and cost changes relative to a June 2020 preliminary feasibility study largely include, but are not limited to: 1) higher material costs due to increased size and supply chain inflationary impacts; 2) scope alterations responding to contracted feed supplies and implementing best-in-class environmental practices; and 3) up-sizing of nameplate output capacity of the Hub, resulting in¹ ~250% higher Hub output capacity of nickel sulphate (~42,000 to 48,000 tonnes per annum), ~160% higher output capacity of lithium carbonate (~7,500 to 8,500 tonnes per annum), and ~65% lower output capacity of cobalt sulphate (~6,500 to 7,500 tonnes per annum).

The Company has engaged Hatch Ltd. as its engineering, procurement and construction management (EPCM) contractor for the project and is in the process of selecting its general contractor. Procurement has commenced on long-lead items and firm-price competitive quotes have been obtained for 80% of the required equipment for the Hub. Li-Cycle is on path to begin the Hub construction by year-end 2021 and to reach mechanical completion, commissioning and start-up in 2023, subject to receipt of remaining regulatory and other approvals.

Conference Call/Webcast Details:

Li-Cycle management will provide an update on the LG strategic collaboration and Hub upsizing during a conference call and audio-only webcast scheduled for today Tuesday, December 14, 2021 at 8:00 a.m. Eastern Time. Investors may listen to the conference call live via telephone by dialing 1 (800) 909 5202 (domestic) or 1 (785) 830 -1914 (international) and use the participant code LICY1214.

An audio-only live webcast of the conference call and presentation materials can be accessed through the Investor Relations section of the Company’s website at https://investors.li-cycle.com. A replay of the conference call/webcast will be made available on the Company’s website at https://investors.li-cycle.com.

About Li-Cycle Holdings Corp.

Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ 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/.

Forward-Looking Statements

Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1993, 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 “may”, “will”, “plan”, “potential”, “future”, “target” 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 may include, for example, statements about the development of the Hub including the related capital investment and anticipated timing for construction and commissioning, the output capacity of the Hub, the future financial performance of Li-Cycle and performance vis-à-vis its competitors, and the anticipated benefits from the proposed collaboration with LG. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. 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.

These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle’s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle’s 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.

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’s Hub, Arizona Spoke, Alabama Spoke and other future projects are subject to development risks, including with respect to engineering, permitting, procurement, construction, materials and labor costs, commissioning and ramp-up; Li-Cycle’s inability to develop the Hub in a timely manner or on budget, which would be expected to result in a significantly greater estimated capital investment than that set forth in the definitive feasibility study; the Hub not meeting expectations with respect to its productivity or the specifications of its end products; market developments (such as increasing EV battery manufacturing volumes in North America and trends around battery chemistries in EV applications); Li-Cycle’s failure to materially increase recycling capacity and efficiency; Li-Cycle’s 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’s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle’s inability to manage future global growth effectively; 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’s current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle’s 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’s operations; Li-Cycle’s 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 “green” energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle’s products; changes in the volume or composition of feedstock materials processed at Li-Cycle’s facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle’s revenues for the Hub are expected to be derived significantly from a single customer; Li-Cycle’s insurance may not cover all liabilities and damages it incurs in the operation of its business; Li-Cycle’s heavy reliance on the experience and expertise of its management; Li-Cycle’s reliance on third-party consultants for its regulatory compliance; Li-Cycle’s inability to complete its recycling and recovery processes as quickly as customers may require; Li-Cycle’s inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle’s 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, boycotts and geo-political events; failure to protect Li-Cycle’s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle’s 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’s business are described in greater detail in the section entitled “Risk Factors” in its final prospectus dated August 10, 2021 filed with the Ontario Securities Commission in Canada and the Form 20-F filed with the U.S. Securities and Exchange Commission. 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.

<sup>____________________________________________

1</sup> Percentage changes based on the mid-point of the Definitive Feasibility Study basis divided by the Preliminary Feasibility Study basis.

Contacts

Investor Relations
Nahla A. Azmy

investors@li-cycle.com

Press
Sarah Miller

media@li-cycle.com