Li-Cycle Appoints Elewout Depicker as VP, Commercial & Corporate Development, EMEA

Seasoned Battery Supply Chain Executive with Significant Commercial Business Development Expertise to Drive the Company’s Expansion Throughout the EMEA Region

February 1, 2022

TORONTO, Ontario – Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced the appointment of Elewout Depicker as VP, Commercial & Corporate Development, EMEA. Mr. Depicker will oversee the execution of Li-Cycle’s commercial activities and corporate development strategy for the Europe, the Middle East and Africa (“EMEA”) regions. His appointment is effective immediately.

Mr. Depicker brings over 10 years of experience in the lithium-ion battery supply chain and commercial business development to his new role. He joins Li-Cycle at an important inflection point in its growth trajectory as it recently announced plans to expand into the European markets, building commercial lithium-ion recycling facilities in Norway and Germany. Mr. Depicker will report to Li-Cycle’s Tim Johnston, co-founder, Executive Chairman and Li-Cycle’s interim President, EMEA.

“We’re thrilled to welcome Elewout to Li-Cycle as we begin to execute on our growth strategy in the EMEA region,” said Mr. Johnston. “Elewout has a proven track record with commercial business development in the battery-grade materials space and I look forward to the important role he will play as we continue to scale our commercial lithium-ion recycling technologies, build facilities, and strengthen our customer network throughout the region.”  

“Li-Cycle has proven itself as the preeminent leader of battery recycling in North America and I am excited to join the team as it replicates its success in the EMEA regions,” said Mr. Depicker. “I look forward to leveraging my deep experience with business development in the battery supply chain as Li-Cycle drives sustainable global electrification through its economically and environmentally sustainable commercial lithium-ion recycling technologies.”

Before joining Li-Cycle, Elewout Depicker was Business Head Lithium, Manganese, Additives and Supply Chain Management at Umicore’s Rechargeable Battery Materials division. At Umicore, he was in charge of growing the global sourcing portfolio of battery raw materials going into Umicore’s PCAM and CAM products. Elewout brings extensive experience in the marketing and commercialization of battery specialty chemicals. Next to his commercial role, Elewout was taking the lead in the integrated supply chain management of battery raw materials for the global production plants of Umicore.

Mr. Depicker holds his Master of Commercial Engineering from Ghent University in Belgium.

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/.

CONTACTS
Li-Cycle:
Investor Relations
Nahla A. Azmy
[email protected]

Press
Sarah Miller
[email protected]

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 “will”, “expect”, “plan”, “potential”, “future”, “continuing” 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 future financial performance of Li-Cycle. 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.

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. 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 Annual Report on Form 20-F dated January 31, 2022 filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission, and in other filings made by Li-Cycle with securities regulatory authorities. 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.

In addition, forward-looking statements contained in this communication reflect Li-Cycle’s expectations, plans or forecasts of future events and views as of the date of this communication. Li-Cycle anticipates that subsequent events and developments could cause Li-Cycle’s assessments, expectations, plans and forecasts to change. While Li-Cycle may elect to update these forward-looking statements at some point in the future, Li-Cycle has no intention and undertakes no obligation to do so, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle’s assessments as of any date subsequent to the date of this communication. Li-Cycle’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.