Li-Cycle Appoints Debbie Simpson As Chief Financial Officer

Bruce MacInnis to Retire Following Orderly Transition

Li-Cycle Holdings Corp., an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, announced the appointment of Debbie Simpson to the role of Chief Financial Officer (CFO), effective February 1, 2022.

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“We are thrilled to welcome Debbie to Li-Cycle,” said Ajay Kochhar, Li-Cycle’s co-founder and CEO. “Debbie will be an immediate strategic partner as a member of the Li-Cycle executive leadership team. As a proven, finance executive with global public company experience and a champion of growing and developing talent, she will contribute to our efforts to drive growth and maximize shareholder value.”

Ms. Simpson brings more than 30 years of senior financial leadership focusing on strategic and transformational investment projects and optimizing capital structures to drive returns and facilitate scalability and growth for global companies. She joins Li-Cycle at an important juncture, as the Company is rapidly scaling its business with plans to build commercial lithium-ion recycling facilities across the globe.

Prior to joining Li-Cycle, Ms. Simpson served as the CFO of Maple Leaf Foods, a carbon neutral sustainable protein company with revenues of approximately $4 billion and over 13,000 employees. At Maple Leaf Foods, she was instrumental in driving a strategic shift for the company to become a higher-value sustainable protein business, advised on successful acquisitions, and secured over $2.0 billion in funding. Prior to that, Ms. Simpson was the acting CFO of Vincor International Inc., a leading global producer and distributer of wines with operations across several countries. At Vincor International, she completed several business acquisitions, equity and debt transactions, and the successful sale of the business to Constellation Brands Inc.

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Ms. Simpson holds her BA in Accountancy and Master of Science in Accountancy and Finance from the University of Stirling, Scotland. She is a member of The Institute of Chartered Accountants of Scotland. As a passionate advocate for women’s health and education, Ms. Simpson volunteers her time as the Board Chair of Women’s College Hospital Foundation and the Board Chair of Havergal College. She is also a Board member and the Audit Committee Chair for Shearer’s Snacks, an OTPP portfolio company.

“I am delighted to join the Li-Cycle team. I was drawn to its innovative technology, global growth plans, and dedication to enabling a circular economy,” said Ms. Simpson. “I look forward to being a part of the Li-Cycle team and contributing to their future expansion in this rapidly evolving sector.”

Ms. Simpson will succeed Li-Cycle’s current CFO, Bruce MacInnis, upon his previously indicated retirement and the two will begin working together immediately to ensure a smooth transition and succession.

“I want to personally thank Bruce for his commitment to Li-Cycle and the significant value and contributions he has delivered to our company during a period of rapid growth and transformation. Bruce has been a key member of the Li-Cycle leadership team through a critical period in Li-Cycle’s history, establishing a strong foundation for our finance team to support Li-Cycle’s continued expansion. We wish him the very best in his retirement,” said Mr. Kochhar.

“It was truly a pleasure working for Li-Cycle and I want to thank Ajay and the rest of the team for providing me the opportunity to be a part of this uniquely positioned organization,” said Mr. MacInnis. “I look forward to follow the Company’s future growth and success as they continue to revolutionize the lithium-ion battery market.”

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