Li-Cycle and Arrival Share the Objective to Create a Sustainable and Circular EV Battery Supply Chain in the United States and Europe

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 a collaboration with Arrival (NASDAQ: ARVL), a global company that is on a mission to make air clean by replacing all vehicles with affordable electric solutions produced by local microfactories.

Through this newly established collaboration, Li-Cycle and Arrival will work together on thought leadership initiatives and R&D efforts to improve lithium-ion battery recycling, while also working together to improve the efficiency of the EV battery supply chain in the U.S. and Europe.

"Ensuring end-to-end sustainability for electric vehicles is something we are very passionate about at Arrival. This is why we are so thrilled to partner with Li-Cycle to drive sustainability in the EV industry through the advancement of EV lithium-ion battery recycling," said Deepen Somaiya, Global VP of Sustainability for Arrival. "Arrival is changing the fundamentals of the automotive industry with our new method for the design and production of EVs, and we see Li-Cycle's cutting-edge, commercial lithium-ion recycling technology as an extension of that transformational approach. We look forward to working together with them to create sustainable, end-to-end solutions that will help us drive radical impact."

By utilizing Li-Cycle's breakthrough, commercial lithium-ion battery recycling technologies, end-of-life batteries from Arrival's EV fleets in the U.S.A and Europe can be transformed into battery grade material that could be used in the production of new batteries for new Arrival vehicles. Li-Cycle's technologies will facilitate Arrival's ability to minimize the lifecycle impact of batteries, improving its recycling and resource recovery infrastructure. At the same time, Arrival will support Li-Cycle's ability to advance its patented technologies in line with next generation battery technology, while also continuing to improve its resource recovery efficiency.

"We're excited to collaborate with Arrival to drive technological innovation in battery recycling, while creating a truly sustainable closed-loop battery supply chain in the EV industry," said Kunal Phalpher, Chief Strategy Officer of Li-Cycle. "This strategic commercial partnership demonstrates our ability to meet emerging new customer demands as we continue to scale our proven, commercial lithium-ion recycling technology, globally."

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/.

About Arrival
Arrival was founded in 2015 with a mission to make air clean by replacing all vehicles with affordable electric solutions - produced by local Microfactories. Six years and over 2,000 people later, we are driving the transition to EVs globally by creating products that are zero-emission, more desirable, more sustainable and more equitable than ever before. Our in-house technologies enable our radical new method of design and production using rapidly-scalable, local Microfactories around the world. This method facilitates cities and governments in achieving their sustainability goals whilst also supercharging their communities. We are a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company - all rolled into one with a shared goal of true sustainability. This vertically integrated business model is how we can have the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a joint stock company governed by Luxembourg law.