May 14, 2025

On May 14, 2025, Li-Cycle Holdings Corp, Li-Cycle Corp., Li-Cycle Americas Corp., Li-Cycle U.S. Inc., Li-Cycle Inc., Li-Cycle North America Hub, Inc. (collectively, “Li-Cycle” or the “Applicants”) made an application to the Ontario Superior Court of Justice (Commercial List) (the “Court”) and were granted an order (the “Initial Order”), which, among other things, provides for a stay of proceedings pursuant to the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).

Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) of the business and financial affairs of the Applicants.

On May 14, 2025, the Applicants also obtained a Temporary Restraining Order from the United States Bankruptcy Court for the Southern District of New York, and at a later date, intend to seek recognition of these CCAA proceedings as “foreign main proceedings” and recognition of the Initial Order in the United States under Chapter 15 of the United States Bankruptcy Code.