Li-Cycle: Li-Cycle Holdings Corp. Commences Process to Suspend Operations and Reduces Its Workforce by Approximately 32 Positions

Li-Cycle Holdings Corp. is taking steps to curtail operations to optimize liquidity and support the Company?s sale process. The Company has commenced the process to suspend operations in a safe and compliant manner at its Arizona Spoke and Alabama Spoke recycling facilities. As a result, the Company will be furloughing approximately 85 employees at these facilities. The Company is also reducing its workforce by approximately 32 positions, primarily at its Toronto headquarters. Operations at the Germany Spoke are currently continuing. Li-Cycle Holdings Corp. is taking steps to curtail operations to optimize liquidity and support the Company?s sale process. The Company has commenced the process to suspend operations in a safe and compliant manner at its Arizona Spoke and Alabama Spoke recycling facilities. As a result, the Company will be furloughing approximately 85 employees at these facilities. The Company is also reducing its workforce by approximately 32 positions, primarily at its Toronto headquarters. Operations at the Germany Spoke are currently continuing.