Li-Cycle Collaborates with Daimler Truck North America to Recycle Lithium-ion Batteries

Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the "Company"), a prominent global enterprise specializing in the recovery of lithium-ion battery resources, is honored to assist Daimler Truck North America (DTNA) in its endeavor to implement a holistic circular economy strategy throughout its operations, aimed at diminishing its carbon footprint.

Li-Cycle and DTNA have forged a partnership dedicated to recycling lithium-ion batteries from DTNA's electric vehicles upon reaching the end of their life cycle. This initiative aligns with DTNA's commitment to extending battery lifespans and minimizing material waste, addressing overarching global sustainability issues. DTNA's approach prioritizes the repair, remanufacture, repurpose, and recycling of lithium-ion battery materials.

Ajay Kochhar, President and CEO of Li-Cycle, expressed pride in collaborating with companies like DTNA to bolster their sustainability endeavors and carbon reduction objectives. Kochhar highlighted Li-Cycle's eco-friendly and secure recycling technologies, which facilitate the recovery of vital materials. This initiative aims to establish a domestic closed-loop battery supply chain, breathing new life into these battery materials and contributing to the global transition towards clean energy.

Li-Cycle (NYSE: LICY) stands as a premier global enterprise specializing in the recovery of lithium-ion battery resources. Founded in 2016 and boasting a wide array of major customers and partners across the globe, Li-Cycle is driven by its mission to reclaim essential battery-grade materials, fostering the establishment of a domestic closed-loop battery supply chain in support of a clean energy future. Utilizing its innovative, sustainable, and patent-protected Spoke & Hub Technologies™, the Company excels in recycling various types of lithium-ion batteries. At its Spokes facilities, Li-Cycle engages in the recycling of battery manufacturing scrap and end-of-life batteries, resulting in the production of black mass, a powder-like substance rich in valuable metals such as lithium, nickel, and cobalt. In the future Hubs facilities, Li-Cycle intends to further process the black mass to yield essential battery-grade materials, notably lithium carbonate, vital for the lithium-ion battery supply chain.

Based in Portland, Oregon, Daimler Truck North America LLC is a prominent supplier of comprehensive solutions and technologies for the commercial transportation sector. Specializing in the design, engineering, manufacturing, and marketing of medium- and heavy-duty trucks, school buses, vehicle chassis, and related technologies and components, Daimler Truck North America operates under renowned brands such as Freightliner, Western Star, Thomas Built Buses, Freightliner Custom Chassis Corp, and Detroit. As a subsidiary of Daimler Truck Holding AG (DTG), a global leader in commercial vehicle manufacturing, Daimler Truck North America maintains a distinguished position in the industry.