Li-Cycle to Host Annual Shareholders Meeting on Thursday, April 27, 2023 at 8:30 a.m. (ET)

Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the "Company"), will hold its 2023 annual general meeting of shareholders (the "Meeting") on Thursday, April 27, 2023 at 8:30 a.m. (Eastern Time) in a virtual format, via live audio webcast. All interested parties are invited to attend the Meeting by using the live webcast link here: www.virtualshareholdermeeting.com/LICY2023. Only registered shareholders and duly appointed proxyholders as of the record date on March 6, 2023 will be entitled to vote and ask questions at the Meeting.

Meeting Materials

The Company's Management Information Circular and other Meeting materials are available at https://materials.proxyvote.com/50202P, and on Li-Cycle's website at Li-Cycle - Investor Relations, as well as on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.

To further its commitment to environmental sustainability and to reduce its printing and mailing costs, Li-Cycle is using notice-and-access procedures for the delivery of Meeting materials. Under notice-and-access, the Company can deliver Meeting materials by posting the materials on a website other than sedar.com (instead of mailing them to shareholders), and sending a notice informing shareholders that the Meeting materials have been posted online and explaining how to access such materials.

Your vote is important. Whether or not you plan to virtually attend the Meeting, please vote as soon as possible by one of the methods described in the Meeting materials, to ensure that your shares are represented and voted at the Meeting.

Annual Report on Form 20-F

Li-Cycle has also filed its Annual Report on Form 20-F for the year ended October 31, 2022, including the Company's audited consolidated financial statements for the fiscal year ended October 31, 2022 and related management's discussion and analysis. This is available for download from the Investors section of the Company website at Li-Cycle - Financials - Annual Report and Circular. It is also available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Interim ESG Report

The Company recently issued a 2022 Interim Environmental, Social, Governance (ESG) Report, providing insight into the integration of ESG across our business and how it shapes our relationships with our key stakeholders, including our employees, investors, customers, and communities. We are on track to publish our first ESG Report in 2024 and to achieve alignment in 2025 with the Financial Stability Board's Task Force on Climate-Related Financial Disclosures. For a copy of our 2022 Interim ESG Report, refer to link here: https://li-cycle.com/sustainability/.

About Li-Cycle Holdings Corp.

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

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release 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 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 "believe", "may", "will", "continue", "anticipate", "intend", "expect", "should", "would", "could", "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 in this press release include but are not limited to statements Li-Cycle's expectation to publish its first ESG Sustainability Report in 2024 and to achieve alignment in 2025 with the Financial Stability Board's Task Force on Climate-Related Financial Disclosures . These statements are based on various assumptions, whether or not identified in this press release, made by Li-Cycle management. 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.

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 identifies the principal risks and uncertainties that affect its performance and the assumptions upon which the forward-looking information is based in the sections entitled "Item 3D. Risk Factors" and "Item 5. Operating and Financial Review and Prospects?Key Factors Affecting Li-Cycle's Performance" 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.

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's assessment as of any date subsequent to the date of this press release.