# EDGAR Filing Document

**Accession Number:** 0001828811
**File Stem:** 0001193125-23-017656
**Filing Date:** 2023-1
**Character Count:** 42968
**Document Hash:** 954ede8a51d416375a46f7de609a15c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-017656.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001193125-23-017656

**CONFORMED SUBMISSION TYPE**: 20-F/A

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20211031

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Li-Cycle Holdings Corp.
- **CENTRAL INDEX KEY:** 0001828811
- **STANDARD INDUSTRIAL CLASSIFICATION:** HAZARDOUS WASTE MANAGEMENT [4955]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 20-F/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40733
- **FILM NUMBER:** 23563862

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LI-CYCLE CORP.
- **STREET 2:** 10-2351 ROYAL WINDSOR DRIVE
- **CITY:** MISSISSAUGA
- **STATE:** A6
- **ZIP:** L5J 4S7
- **BUSINESS PHONE:** 4165833509

**MAIL ADDRESS:**
- **STREET 1:** C/O LI-CYCLE CORP.
- **STREET 2:** 10-2351 ROYAL WINDSOR DRIVE
- **CITY:** MISSISSAUGA
- **STATE:** A6
- **ZIP:** L5J 4S7

?xml version="1.0" encoding="utf-8" ? 20-F/A

As filed with the Securities and Exchange Commission on January 27, 2023

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F/A

(Amendment No. 1)

(Mark One)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended October 31, 2021

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report: Not applicable.

Commission File Number: 001-40733

## Li-Cycle Holdings Corp.
(Exact name of Registrant as specified in its charter)

<br> Not applicable Province of Ontario, Canada <br> (Translation of Registrant's name into English) (Jurisdiction of incorporation or organization)

207 Queen's Quay West, Suite 590, Toronto, ON, M5J 1A7, Canada

(Address of principal executive offices)

Carl DeLuca

207 Queen's Quay West, Suite 590, Toronto, ON, M5J 1A7, Canada

(877) 542-9253

carl.deluca@li-cycle.com

(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading<br>Symbol(s) | Name of each exchange<br>on which registered |
| Common shares, without par value | LICY | New York Stock Exchange |

---

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report: 163,179,655 common shares issued and outstanding as of October 31, 2021.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, or an emerging growth company. See definition of "accelerated filer," "large accelerated filer," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ |
|  |  |  |  | Emerging growth company | ☐ |

---

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered public accounting firm that prepared or issued its audit report.&nbsp;&nbsp;&nbsp;&nbsp;☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.&nbsp;&nbsp;&nbsp;&nbsp;☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).&nbsp;&nbsp;&nbsp;&nbsp;☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

<br> U.S. GAAP ☐ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Financial Reporting Standards as issued Other ☐ <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by the International Accounting Standards Board ☒

If "Other" has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow.&nbsp;&nbsp;&nbsp;&nbsp;Item 17&nbsp;&nbsp;&nbsp;&nbsp;☐ Item&nbsp;&nbsp;&nbsp;&nbsp;18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

------

#### LI-CYCLE HOLDINGS CORP.

#### **TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  | **Page** | **Page** |
| [Explanatory Note](#tx447058_1) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Item 15. Controls and Procedures](#tx447058_2) |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Item 19. Exhibits](#tx447058_3) |  | 5 |

---

-i-

------

#### EXPLANATORY NOTE
Li-Cycle Holdings Corp. (the "Company") is filing this Amendment No. 1 ("Amendment No. 1") to the Annual Report on Form 20-F for the year ended October 31, 2021 (the "Original Form 20-F" and together with this Amendment No. 1, the "Form 20-F Filings"), as filed with the United States Securities and Exchange Commission (the "SEC") on January 31, 2022 (the "Original Filing Date"), to amend and restate (i) the sections entitled "Disclosure Controls and Procedures" and "Internal Controls Over Financial Reporting" contained in Part I, Item 5, "Operating and Financial Review and Prospects" included as Exhibit 99.3 to the Original Form 20-F and (ii) Part II, Item 15, "Controls and Procedures", in each case, with respect to the conclusion of management regarding the effectiveness of the Company's disclosure controls and procedures as of October 31, 2021.

Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934 (the "Exchange Act"), this Amendment No. 1 also includes as exhibits the certifications of the Principal Executive Officer and Principal Financial Officer of the Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Because no financial statements have been included in this Amendment No. 1, paragraph 3 of the certifications has been omitted. The Company is not including certifications pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) because no financial statements are filed with this Amendment No. 1.

This Amendment No. 1 speaks as of the Original Filing Date of the Original Form 20-F (unless otherwise noted or as the context otherwise requires). Except as described above, no changes have been made to the Original Form 20-F, and this Amendment No. 1 does not modify, amend or update the financial or other information contained in the Original Form 20-F. This Amendment No. 1 does not reflect any events that have occurred on or after the Original Filing Date. Among other things, the Company has not revised forward-looking statements made in the Original Form 20-F to reflect events that occurred or facts that became known to the Company after the Original Filing Date. Therefore, this Amendment No. 1 should be read in conjunction with the Original Form 20-F and any other documents that the Company has filed with the Securities and Exchange Commission (the "SEC") on or after the Original Filing Date.

In this Amendment No. 1, Li-Cycle Holdings Corp. (together with its subsidiaries) is referred to as the "Company," "Li-Cycle," "we," "us," or "our."

------

#### ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS
The Management's discussion and analysis of the Company are included in the Original Form 20-F in exhibit 99.3 and are hereby amended as follows:

#### Disclosure Controls and Procedures
Subject to the below, Li-Cycle maintains a set of disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act and Canadian Securities Administrators National Instrument 52-109, *Certification of Disclosure in Issuers' Annual and Interim Filings*) designed to provide reasonable assurance that information required to be disclosed in its public filings or otherwise under securities legislation is recorded, processed, summarized and reported on a timely basis and that such controls and procedures are designed to ensure that information required to be so disclosed is accumulated and communicated to its management, including its certifying officers, as appropriate to allow timely decisions regarding required disclosure. With the supervision and participation of Li-Cycle's senior management team, the Chief Executive Officer of Li-Cycle (the "CEO") and the Chief Financial Officer ("CFO") of Li-Cycle have evaluated the effectiveness of the disclosure controls and procedures of Li-Cycle as of October 31, 2021. Based on that evaluation, those officers have concluded that, as of October 31, 2021, such disclosure controls and procedures were not effective, due to the material weakness in the Company's internal control over financial reporting as described below.

#### Internal Controls Over Financial Reporting
Prior to August 10, 2021, Li-Cycle was a private company and we addressed our internal control over financial reporting with internal accounting and financial reporting personnel and other resources.

In the course of preparing for the Business Combination (as defined in the Original Form 20-F) with Peridot Acquisition Corp, Li-Cycle identified material weaknesses in its internal controls over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of Li-Cycle's annual or interim consolidated financial statements may not be prevented or detected on a timely basis.

Li-Cycle did not have in place i) an effective control environment with formal processes and procedures and ii) an adequate number of accounting personnel with the appropriate technical training in, and experience with, IFRS to allow for a detailed review of complex accounting transactions, that would identify errors in a timely manner, including in areas such as revenue recognition, inventory, related party arrangements, financing transactions and business combination transactions. Li-Cycle did not design or maintain effective controls over the financial statement close and reporting process in order to ensure the accurate and timely preparation of financial statements in accordance with IFRS. In addition, information technology controls, including end user and privileged access rights and appropriate segregation of duties, including for certain users the ability to create and post journal entries, were not designed or operating effectively.

We have taken steps to address these material weaknesses and expect to continue to implement the remediation plan, which we believe will address their underlying causes. We have engaged external advisors with subject matter expertise and additional resources to provide assistance in assessing the control environment and expect to further engage these external advisors to provide assistance with all elements of the internal controls over financial reporting program, including: performance of a risk assessment; documentation of process flows; design and remediation of internal controls; and evaluation of the design and operational effectiveness of our internal controls. We also expect to engage additional external advisors to provide assistance in the areas of information technology and financial accounting. We are evaluating the longer-term resource needs of our various financial functions. These remediation measures may be time consuming, costly, and might place significant demands on our financial and operational resources. We have made some upgrades to our enterprise resource planning ("ERP") system and work on further upgrades is ongoing with the intent to further customize and enhance system functionality. Although we have made enhancements to our control procedures in this area, the material weaknesses will not be remediated until the necessary controls have been implemented and are operating effectively. We will provide an update on the progress of the remediation on a quarterly basis.

------

#### ITEM 15. CONTROLS AND PROCEDURES
A. Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act and Canadian Securities Administrators National Instrument 52-109, *Certification of Disclosure in Issuers' Annual and Interim Filings*) as of the end of the period covered by the Original Form 20-F. Based on such evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of October 31, 2021, our disclosure controls and procedures were not effective, due to the material weaknesses in the Company's internal control over financial reporting described below.

B. Management's Report on Internal Controls over Financial Reporting

The Form 20-F Filings do not include a report of management's assessment regarding internal control over financial reporting due to a transition period established by rules of the SEC for newly public companies.

Prior to August 10, 2021, Li-Cycle was a private company and we addressed our internal control over financial reporting with internal accounting and financial reporting personnel and other resources.

In the course of preparing for the Business Combination (as defined in the Original Form 20-F) with Peridot Acquisition Corp, Li-Cycle identified material weaknesses in its internal controls over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of Li-Cycle's annual or interim consolidated financial statements may not be prevented or detected on a timely basis.

Li-Cycle did not have in place i) an effective control environment with formal processes and procedures and ii) an adequate number of accounting personnel with the appropriate technical training in, and experience with, IFRS to allow for a detailed review of complex accounting transactions, that would identify errors in a timely manner, including in areas such as revenue recognition, inventory, related party arrangements, financing transactions and business combination transactions. Li-Cycle did not design or maintain effective controls over the financial statement close and reporting process in order to ensure the accurate and timely preparation of financial statements in accordance with IFRS. In addition, information technology controls, including end user and privileged access rights and appropriate segregation of duties, including for certain users the ability to create and post journal entries, were not designed or operating effectively.

We have taken steps to address these material weaknesses and expect to continue to implement the remediation plan, which we believe will address their underlying causes. We have engaged external advisors with subject matter expertise and additional resources to provide assistance in assessing the control environment and expect to further engage these external advisors to provide assistance with all elements of the internal controls over financial reporting program, including: performance of a risk assessment; documentation of process flows; design and remediation of internal controls; and evaluation of the design and operational effectiveness of our internal controls. We also expect to engage additional external advisors to provide assistance in the areas of information technology and financial accounting. We are evaluating the longer-term resource needs of our various financial functions. These remediation measures may be time consuming, costly, and might place significant demands on our financial and operational resources. We have made some upgrades to our enterprise resource planning ("ERP") system and work on further upgrades is ongoing with the intent to further customize and enhance system functionality. Although we have made enhancements to our control procedures in this area, the material weaknesses will not be remediated until the necessary controls have been implemented and are operating effectively. We will provide an update on the progress of the remediation on a quarterly basis.

------

C. Attestation Report of Registered Public Accounting Firm

The Form 20-F Filings do not include an attestation report of the Company's registered public accounting firm due to a transition period established by rules of the SEC for newly public companies. Furthermore, the Company was an emerging growth company as of the Original Filing Date, and therefore was exempt from the requirement of an attestation report of its registered public accounting firm while it was an emerging growth company.

D. Effect of Changes in Internal Controls Over Financial Reporting

During the period covered by the Form 20-F Filings, there were no changes in our internal control over financial reporting that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

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#### ITEM 19. EXHIBITS

#### EXHIBIT INDEX

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 1.1 | [Amended and Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 1.2 to the Company's shell company report on Form 20-F (File No. 001-40733) filed with the SEC on August 16, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521248001/d127176dex12.htm)\*\* |
| 1.2 | [Amended and Restated By-laws of the Company (incorporated by reference to Exhibit 1.2 to the Company's shell company report on Form 20-F (File No. 001-40733) filed with the SEC on August 16, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521098780/d317379df4.htm#toc317379_105)\*\* |
| 2.1 | [Specimen Common Share Certificate of the Company (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521160481/d317379dex41.htm)\*\* |
| 2.2 | [Specimen Warrant Certificate of the Company (incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521160481/d317379dex42.htm)\*\* |
| 2.3 | [Warrant Agreement, dated as of September 23, 2020, between Continental Stock Transfer & Trust Company and Peridot Acquisition Corp. (incorporated by reference to Exhibit 4.3 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/0001821317/000119312520239936/d926593dex44.htm)\*\* |
| 2.4 | [Warrant Amendment Agreement and Form of Warrant Certificate, dated as of August 10, 2021, by and among Peridot Acquisition Corp., the Company and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 4.3to the Company's shell company report on Form 20-F (File No. 001-40733) filed with the SEC on August 16, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521241747/d145140dex43.htm)\*\* |
| 2.5 | [Description of Securities (incorporated by reference to Exhibit 2.5 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a25descriptionofsecurities.htm) |
|  4.1†† | [Business Combination Agreement, dated as of February 15, 2021, by and among Peridot Acquisition Corp., Li-Cycle Corp. and the Company (incorporated by reference to Exhibit 2.1 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521208033/d317379df4a.htm#toc317379_101)\*\* |
| 4.2 | [Form of Subscription Agreement (Institutional Investor Form) (incorporated by reference to Exhibit 10.1 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1821317/000119312521043314/d132687dex101.htm)\*\* |
| 4.3 | [Form of Subscription Agreement (Director Form) (incorporated by reference to Exhibit 10.2 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1821317/000119312521043314/d132687dex102.htm)\*\* |
| 4.4 | [Sponsor Letter Agreement, dated as of February 15, 2021, among Peridot Acquisition Corp., Li-Cycle Corp., the Company, Peridot Acquisition Sponsor, LLC and the other individuals party thereto (incorporated by reference to Exhibit 10.3 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021)](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521098780/d317379df4.htm#annj)\*\* |
| 4.5 | [Form of Transaction Support Agreement, dated as of February 15, 2021, among Peridot Acquisition Corp. and the Li-Cycle shareholder party thereto (incorporated by reference to Exhibit 10.4 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521098780/d317379df4.htm#anni)\*\* |

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| | |
|:---|:---|
| 4.6 | [Li-Cycle Holdings Corp. 2021 Incentive Award Plan (incorporated by reference to Exhibit 4.5 to the Company's shell company report on Form 20-F (File No. 001-40733) filed with the SEC on August 16, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521248001/d127176dex45.htm)\*\* |
|  4.7† | [Li-Cycle Holdings Corp. 2021 Incentive Award Plan Sub-Plan for Canadian Participants (incorporated by reference to Exhibit 99.4to the Company's Registration Statement on Form S—8(File No. 333-261568) filed with the SEC on December 9, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521352733/d211201dex994.htm)\*\* |
|  4.8† | [Form of Li-Cycle Holdings Corp. 2021 Employee Share Purchase Plan (incorporated herein by reference to Exhibit 4.8to the Company's shell company report](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521098780/d317379df4.htm#anng) [on Form 20—F(File No. 001-40733) filed with the SEC on August 16, 2021).\*\*](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521098780/d317379df4.htm#anng) |
|  4.9† | [Form of Option Grant Notice and Agreement under the Li-Cycle Holdings Corp. 2021 Incentive Award Plan (incorporated by reference to Exhibit 4.9 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a49formofoptiongrantnotice.htm) |
|  4.10† | [Form of RSU Award Grant Notice and Agreement under the Li-Cycle Holdings Corp. 2021 Incentive Award Plan (incorporated by reference to Exhibit 4.10 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a410formofrsuawardgrantnot.htm) |
|  4.11††† | [Refined Products - Amended and Restated Marketing, Logistics and Working Capital Agreement, dated December 15, 2021, between Traxys North America LLC and Li-Cycle Americas Corp. (incorporated by reference to Exhibit 4.11 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a411refinedproductsamended.htm) |
|  4.12††† | [Black Mass - Amended and Restated Marketing, Logistics and Working Capital Agreement, dated December 15, 2021, between Traxys North America LLC and Li-Cycle Americas Corp. (incorporated by reference to Exhibit 4.12 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a412blackmassamendedandres.htm) |
| 4.13 | [Letter Agreement, dated December 15, 2021, between Traxys North America LLC and Li-Cycle Holdings Corp. (incorporated by reference to Exhibit 4.13 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a413letteragreementdatedde.htm) |
| 4.14 | [Letter of Offer of Financing granted to Li-Cycle Corp. by Business Development Bank of Canada, dated December 16, 2019 (incorporated by reference to Exhibit 10.13 to the Company's Registration Statement on Form F-4 (File No. 333-254843) filed with the SEC on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521160481/d317379dex1013.htm)\*\* |
| 4.15 | [Ground Lease Agreement by and between Li-Cycle North America Hub, Inc. and Ridgeway Properties I, LLC dated August 3, 2021 and Guaranty of Li-Cycle Holdings Corp. guaranteeing the obligations of North America Hub, Inc. thereunder (incorporated by reference to Exhibit 10.1 to the Company's Form 6-K filed with the SEC on August 12, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521243725/d135924dex101.htm)\*\* |
| 4.16 | [Investor and Registration Rights Agreement among the Company and the parties named therein (incorporated by reference to Exhibit 4.9 to the Company's shell company report on Form 20-F (File No. 001-40733) filed with the SEC on August 16, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521248001/d127176dex49.htm)\*\* |
| 4.17 | [Convertible Note, dated September 29, 2021, issued by Li-Cycle Holdings Corp. to Spring Creek Capital, LLC (incorporated by reference to Exhibit 10.27 to the Company's Registration Statement on Form F-1 (File No. 333-259895) filed with the SEC on September 30, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521286989/d206157dex1027.htm)\*\* |
| 4.18 | [Note Purchase Agreement, dated September 29, 2021, by and between Li-Cycle Holdings Corp. and Spring Creek Capital, LLC (incorporated by reference to Exhibit 10.28 to the Company's Registration Statement on Form F-1 (File No. 333-259895) filed with the SEC on September 30, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521286989/d206157dex1028.htm)\*\* |

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| | |
|:---|:---|
| 4.19 | [Standstill Agreement, dated September 29, 2021, by and between Li-Cycle Holdings Corp. and Koch Strategic Platforms, LLC and Spring Creek Capital, LLC (incorporated by reference to Exhibit 10.29 to the Company's Registration Statement on Form F-1 (File No. 333-259895) filed with the SEC on September 30, 2021).](http://www.sec.gov/Archives/edgar/data/1828811/000119312521286989/d206157dex1029.htm)\*\* |
| 4.20 | [Li-Cycle Corp. Amended and Restated Stock Option Plan (incorporated by reference to Exhibit 99.2 to the Company's Registration Statement on Form S-8 (File No. 333-261568) filed with the SEC on December 9, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521352733/d211201dex992.htm)\*\* |
| 4.21 | [Li-Cycle Corp. Amended and Restated Long-Term Incentive Plan (incorporated by reference to Exhibit 99.3 to the Company's Registration Statement on Form S-8 (File No. 333-261568) filed with the SEC on December 9, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521352733/d211201dex993.htm)\*\* |
| 4.22 | [Li-Cycle Holdings Corp. 2021 Incentive Award Plan Sub-Plan for Canadian Participants (incorporated by reference to Exhibit 99.4 to the Company's Registration Statement on Form S-8 (File No. 333-261568) filed with the SEC on December 9, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521352733/d211201dex994.htm)\*\* |
| 4.23 | [Subscription Agreement, dated December 13, 2021, by and between Li-Cycle Holdings Corp. and LG Energy Solution, Ltd. (incorporated by reference to Exhibit 10.1 to the Company's Form 6-K (File No. 001-40733) filed with the SEC on December 14, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521356136/d124305dex101.htm)\*\* |
| 4.24 | [Subscription Agreement, dated December 13, 2021, by and between Li-Cycle Holdings Corp. and LG Chem, Ltd. (incorporated by reference to Exhibit 10.2 to the Company's Form 6-K (File No. 001-40733) filed with the SEC on December 14, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521356136/d124305dex102.htm)\*\* |
| 4.25 | [Standstill Agreement, dated December 13, 2021, by and between Li-Cycle Holdings Corp., LG Energy Solution, Ltd. and LG Chem, Ltd. (incorporated by reference to Exhibit 10.3 to the Company's Form 6-K (File No. 001-40733) filed with the SEC on December 14, 2021).](http://www.sec.gov/Archives/edgar/data/0001828811/000119312521356136/d124305dex103.htm)\*\* |
| 8.1 | [List of Subsidiaries of the Company (incorporated by reference to Exhibit 8.1 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a81listofsubsidiariesofthe.htm) |
| 12.1 | [Certification of the Principal Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.](d447058dex121.htm) |
| 12.2 | [Certification of the Principal Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.](d447058dex122.htm) |
| 13.1 | [Certification of the Principal Executive Officer pursuant to 18 U.S.C. 1350 (incorporated by reference to Exhibit 13.1 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/exhibit131.htm) |
| 13.2 | [Certification of the Principal Financial Officer pursuant to 18 U.S.C. 1350 (incorporated by reference to Exhibit 13.2 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/exhibit132.htm) |
| 15.1 | [Consent of Deloitte LLP (incorporated by reference to Exhibit 15.1 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a151consentofdeloittellp.htm) |
| 15.2 | [Deloitte Letter to SEC re: Change of Auditor (incorporated by reference to Exhibit 15.2 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a152deloittelettertosecrec.htm) |
| 99.2 | [Audited Annual Consolidated Financial Statements for the years ended October 31, 2021, 2020 and 2019 and notes thereto, together with the Report of Independent Registered Public Accounting Firm thereon (incorporated by reference to Exhibit 99.2 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1828811/000162828022001515/licy-20211031.htm) |
| 99.3 | [Management's Discussion and Analysis of the Company for the year ended October 31, 2021 (incorporated by reference to Exhibit 99.3 to the Company's Annual Report on Form 20-F (File No. 001-40733) filed with the SEC on January 31, 2022).\*\*](http://www.sec.gov/Archives/edgar/data/1828811/000162828022001515/a993mdaoct312021.htm) |
|  101.INS | Inline XBRL Instance Document. |

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| | |
|:---|:---|
|  101.SCH | Inline XBRL Taxonomy Extension Schema Document. |
|  101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
|  101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
|  101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. |
|  101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |

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\*\* Previously filed.

† Indicates management contract or compensatory plan or arrangement.

†† Certain of the exhibits and schedules to these exhibits have been omitted in accordance with Regulation S-K Item 601(a)(5). The registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

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| | |
|:---|:---|
| ††† | Pursuant to Item 601(b)(10)(iv) of Regulation S-K, portions of this exhibit have been omitted because Li-Cycle Corp. customarily and actually treats the omitted portions as private or confidential, and such portions are not material and would likely cause it competitive harm if publicly disclosed. Li-Cycle Holdings Corp. will supplementally provide an unredacted copy of this exhibit to the SEC or its staff upon request.  |

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SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Amendment No. 1 to the Annual Report on Form 20-F for the year ended October 31, 2021 on its behalf.

January 27, 2023

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| | |
|:---|:---|
| LI-CYCLE HOLDINGS CORP. | LI-CYCLE HOLDINGS CORP. |
| By: | /s/ Ajay Kochhar |
|  | Name: Ajay Kochhar |
|  | Title: Chief Executive Officer |

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## Exhibit 12.1

**Exhibit 12.1** 

**CERTIFICATION PURSUANT TO RULE 13a-14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Ajay Kochhar, certify that:

1. I have reviewed this Amendment No. 1 on Form 20-F/A to the Annual
Report on Form 20-F of Li-Cycle Holdings Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. [Intentionally omitted];

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act
Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. [Intentionally omitted];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal
control over financial reporting; and

5. The company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

Date: January 27, 2023

---

| |
|:---|
| /s/ Ajay Kochhar |
| Ajay Kochhar |
| Chief Executive Officer |

---

## Exhibit 12.2

**Exhibit 12.2** 

**CERTIFICATION PURSUANT TO RULE 13a-14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Debbie Simpson, certify that:

1. I have reviewed this Amendment No. 1 on Form 20-F/A to the Annual
Report on Form 20-F of Li-Cycle Holdings Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. [Intentionally omitted];

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act
Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. [Intentionally omitted];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal
control over financial reporting; and

5. The company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

Date: January 27, 2023

---

| |
|:---|
| /s/ Debbie Simpson |
| Debbie Simpson |
| Chief Financial Officer |

---