Combined offering provides the latest lithium-ion battery recycling technology and world-class environmental services to deliver unmatched value

Li-Cycle Corp. ("Li-Cycle" or "the Company"), an industry leader in lithium-ion battery resource recovery and the largest lithium-ion battery recycler in North America, today announced a partnership with Univar Solutions OnSite Services ("Univar Solutions"), a leader in waste management, to provide waste management solutions for lithium-ion batteries.

Through the partnership, Li-Cycle and Univar Solutions customers will now benefit from a waste management solution for lithium-ion battery waste across multiple manufacturing verticals, including the growing North American electric vehicle manufacturing market. The partnership will leverage Univar Solutions' expertise in collecting, sorting, and diverting waste on site at such facilities with Li-Cycle becoming a key partner for responsibly managing any lithium-ion battery waste.

"This new partnership with Univar Solutions will enable us to deliver additional value for both new and existing customers by providing them with total waste management solutions as it pertains to lithium-ion batteries," said Ajay Kochhar, co-founder and CEO of Li-Cycle. "We are constantly looking for ways to support our growing customer base and promote more economically and environmentally sustainable lithium-ion battery recycling, which in turn helps create new sources of critical materials for the end-consumer."

Li-Cycle utilizes a commercial process for efficient recovery of critical, finite materials from end-of-life lithium-ion batteries through partnerships with some of the largest automotive and battery manufacturers across the globe. Univar Solutions works at the intersection of science and technology to help create a better world through a focus on developing more processes, culture, products, services and collaborations. Univar Solutions' OnSite Services team is an industry leader in comprehensive waste and byproduct management programs, servicing the automotive, aerospace, consumer electronics, and other manufacturing sectors.

"At Univar Solutions, our commitment to bringing more sustainable solutions for a better world extends to helping our customers and suppliers achieve their sustainability goals. We are thrilled to partner with an industry leader like Li-Cycle and we look forward to working together," said Stephen Molica, vice president of Services for Univar Solutions. "We believe this partnership will help enhance best-in-class sustainability solutions of our OnSite Services portfolio and look forward to further supporting our customers' important sustainability goals using Li-Cycle's solutions."

The imperative for economically and environmentally sustainable resource recycling is growing in lockstep with the rapid growth of battery manufacturing and aligns with Li-Cycle's and Univar Solutions' corporate social responsibilities. Li-Cycle utilizes its proprietary Spoke & Hub Technologies™ to achieve an industry-leading recovery rate and to produce the critical battery materials underpinning the global growth in electric vehicle production.

About Li-Cycle Corp.

Li-Cycle 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/.

On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC) ("Peridot"). Upon the closing of the business combination, which is expected in the third quarter of 2021, the combined company will be named Li-Cycle Holdings Corp.

About Univar Solutions

Univar Solutions is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools the company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.