Li-Cycle closes $75M Glencore convertible note; amends $225M existing notes

On March 11, 2024, the Company entered into a Note Purchase Agreement (the “ Note Purchase Agreement ”) with Glencore Ltd. (“ Glencore Intermediate ”), and Glencore Canada Corporation (“ Glencore ”, and together with Glencore Intermediate, the “ Glencore Parties ”), pursuant to which the Company agreed to issue and sell a senior secured convertible note (the “ Senior Secured Convertible Note ”) in an aggregate principal amount of $75,000,000 (the “ Transaction ”), in a transaction exempt from registration under the Securities Act of 1933, as amended (the “ Securities Act ”). The Note Purchase Agreement was amended and restated on March 25, 2024 (the “ Amended and Restated Note Purchase Agreement ”) in order to provide for potential partial transfers of the Senior Secured Convertible Note.