Table of Contents /Editorial Policy

Corporate Vision

Message from thePresident

Lithium-ion Battery
Recycling Business

A History ofValue Creation

Sustainability
Strategy

Action Plan

Resource Circulation
Business

Global Trading
Business

Lithium-ion Battery
Recycling Business

Establishment of a resource recycling flow for minor metals

Other Business

ESG Initiatives

Corporate Data▼ The lithium-ion battery recycling process

Batteries to be processed

Collecting and recycling nickel, cobalt,
and other minor metals from lithium-ion batteries
and other sources

Cylinder type(PCs, tools,electric bicycles,etc.)

Vehicle use(EVs, HEVs,PHVs, etc.)

Square and laminated type(mobile phones, etc.)

For ESS(household and industrial
storage batteries, etc.)

The recycling process in the plant
Battery recycling process

Heating treatment
Electrolyte is volatilized throughheat treatment

Main business activities of VOLTA Inc.

01Collecting and recyclingof minor metals fromrechargeable batteries

01 Strategic securing of minor metals

As demand for rechargeable batteries in electric vehicles grows, the demand
for and the value of cobalt, nickel, and other mineral resources are expected
to increase. VOLTA Inc. seeks to establish a domestic resource recycling
flow and to strategically secure mineral resources.

02
Recycling of used casings(other than batteries)

Shredding/sorting
Continuous shredding by multiple
shredders and sorting with sieves

Shredding/sorting
Sorting with sieves after shredding* By evaporating electrolytic solution throughheating treatment, shredding and sortingare handled in a continuous line

02 Decarbonization process at RE100 plant

Anode sheet/
Cathode sheet
Active materials applied to copper
foil or aluminum foil are efficiently
stripped off by a special shredder

As we aim to achieve carbon neutrality by 2050, decarbonized processes
are also needed in battery recycling and reproduction of resources. In April
2021, VOLTA achieved the use of 100% renewable energy sources in allprocesses except for transport vehicles.

Value & Vision
Demand for minor metals will grow aselectric vehicles (EVs) become widespread.
We are working toward recycling these at our
RE100 plant to promote recycling ofresources in Japan.
We will become an indispensable presence inthe battery industry and future society.

Electrode plate
recycling process

03

Acquisition of certifications and permits
to broaden business domains
In July 2020, VOLTA obtained a permit to "engage in the industrial waste
disposal business", enabling the collection of more types of batteries. InFebruary 2021, the company acquired certification under the "R2Standard", a U.S. regulation that aims for responsible recycling processes.
The company seeks to expand business opportunities by gaining an
advantage in transactions with foreign-affiliated companies.

LIB material recycling
supply chain

Black mass:
Hydrometallurgy manufacturers
Iron: Steel manufacturers
Copper: Copper smelters andmanufacturers

LIB material recycling
supply chain

Active materials:Hydrometallurgy manufacturers
Carbon: Steel manufacturers
Copper: Copper smelters andmanufacturers
Aluminum: Reducing agent
applications* Black mass/active materials: Cobalt/nickel concentrate sludge

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