Form 424B3 Li-Cycle Holdings Corp.

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Room 99.1

Li-Cycle Announces the fair market value of the buyback ?? in connection with the redemption of its outstanding warrants

Holders who choose to surrender their warrants as part of a “make-whole” exercise? before the repayment date

of January 26, 2022 will receive 0.253 ordinary shares per warrant

TORONTO, Ontario (January 11, 2022) ?? Li-Cycle Holdings Corp. (NYSE: LICY) (??Li-Cycle?? or the ??Society??), an industry leader in lithium-ion recovery and recycling of battery resources in North America, today announced the “Fair Market Value of Buyback”? in connection with the previously announced redemption of its outstanding warrants (the ??Mandates??) to purchase common shares of the Company (the ??Ordinary actions??) which are pending at 5:00 p.m. New York time on January 26, 2022 (the ??Repayment date??). Based on the fair market value of redemption, warrants who surrender their warrants as part of a “make-Whole” exercise? prior to the redemption date will receive 0.253 common share per warrant.

On December 27, 2021, the Company announced that it would redeem all of the warrants outstanding on the redemption date, for a redemption price of $ 0.10 per warrant. Under the direction of the Company, the Company’s Mandates Agent, Continental Stock Transfer & Trust Company (??CST??), issued a redemption notice (the ??Refund notice??) to each of the registered holders of the outstanding warrants. At any time before 5:00 p.m. New York time on the redemption date, the warrants may be: (1) exercised by holders of warrants for cash, at an exercise price of $ 11.50 per ordinary share, or (2) delivered by holders of warrants on a cashless basis ?? (a ??Group exercise??), in which case the relinquishing holder will receive a number of ordinary shares determined in accordance with the terms of the warrant agreement and depending on: (i) the period of time between the redemption date and the expiration of the warrants subscription, and (ii) the ?? fair market redemption value ?? (being the volume-weighted average price of the ordinary shares for the ten trading days immediately following the date of the redemption notice) (the ??Redemption Fair market value??). Today, CST issued a notice (the ??Notice of fair market value of redemption??) to holders of record of outstanding warrants advising them that: (i) the fair market value of redemption is $ 9.45 per share, and (ii) therefore, holders who surrender their warrants without numerary ?? will receive 0.253 common share per warrant.

Any warrants that have not been exercised for cash or surrendered as part of a full exercise by 5:00 p.m. New York time on the redemption date (i.e. January 26, 2022) will be void and non-exercisable, and holders of such warrants will be entitled to receive only the redemption price of $ 0.10 per warrant.

For more information, including information on how holders can exercise their warrants, please refer to the Redemption Notice. For copies of the Redemption Notice and the Fair Market Value Redemption Notice and answers to frequently asked questions, please visit the Investor Relations section of the Company’s website at https://investors.li-cycle.com.

The ordinary shares underlying the warrants have been registered by the Company under the Securities Act of 1933, as amended, and are covered by a registration statement filed on the form F-1 with, and declared effective by, the Securities and Exchange Commission (registration n ° 333-259895). The SEC maintains a website which contains a copy of this prospectus at www.sec.gov. You can also obtain a copy of this prospectus in the Investor Relations section of the Company’s website at https://investors.li-cycle.com.

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