Christian Lafrance Lithion Recycling

1. CONFIDENTIAL
Lithion: Building Local and Circular
Lithium-Ion Recycling Solutions
and Networks
EV Battery Recycling & Reuse 2022
Christian Lafrance
September 5-6, 2022

2. 2
CONFIDENTIAL
The Company
Lithion’s technological difference
Scale-Up challenge for rapid local deployment
Partnership/Licensing, an hybrid model as a deployment strategy
Agenda

3. CONFIDENTIAL
The Company

4. 4
CONFIDENTIAL
Blue Chip Partners and Investors
Bringing tangible & sustainable innovation to market
Founded in Montréal in 2018
Spinoff of Seneca Consulting
Unique Process based on mechanical
separation and hydrometallurgy solutions
Recycling 95% of Li-ion
battery components
Licensing business model to deploy
rapidly and locally
Processes developed in-house and scaled
by sister-company Seneca

5. 5
CONFIDENTIAL
Experience & Excellence in our top management
Benoit Couture, Eng.
President & CEO
• Mechanical engineer
• 25+ years of experience as an
entrepreneur
• Founded and led 4
successful companies
• 1,000 projects ~ CAD$1,6B
in investments in various
countries
• Solid experience in building
successful organizations
addressing industrial challenges
Marc Chabot, CPA
VP & CFO
• CPA
• 20+ years of experience as
• EV experience as former CFO
for CVTCORP and TM4 (now
Dana Corp.)
• Part of top management in
various start-up companies
• Proven experience in financing,
fundraising, strategic planning,
legal, and business
development.
Yves Noël, P. Eng., MBA
VP & CBDO
Christian Normand, Eng.
VP & CTO
• Chemical engineer
• 25 years of experience
• R&D director for Tekna
Plasma Systems for 8 years
• Founded Recentis Advanced
Materials now part of Oerlikon
Metco
• Expert in development of processes
for the synthesis, transformation
and purification of materials
• Chemical engineer
• 25 years of experience
• Successful business development
executive in the value-
added specialized additives related
to the high technology applications
• Key to successful launch of several
start-ups
Eva Carissimi, Eng.
VP & GM
Emilie Nadeau, Eng.
VP – Eng. & Cap. Projects
• Metallurgical engineer
• 30+ years of experience in
complex plant operations
• More than 15 years of experience
as an executive of a publicly
traded company
• First woman to manage a large-
scale mine in Canada
• Served on numerous company
boards
• Mechanical engineer
• 15 years of experience
• Led multiple projects in the
mining and metals industries and
chemical processes
• Strong expertise in financing
strategies, commercialization and
process development

6. 6
Demo plant
commissioning
and optimization
200 mt/y
Working now for the 2035 world
Technology developed
at Seneca
Bench scale tests
& Lithion’s
inception.
Demo plant operation
& GEN 1 pre-feasibility
+ feasibility studies
GEN 1 Hydromet
commissioning
15,000 mt/y of BM
Extraction and
Hydromet
licensing in
Europe
2017
2018
2020
2021
2025
2025
AND BEYOND
2023
GEN 1 Extraction plant
commissioning
7,500 mt/y
Opening of
Tech Center
Start of operations at our
first Extraction Licensee in
South Korea in 2022-2023

7. 7
CONFIDENTIAL
❖ Series A financing announced with a target of 90 M$ Euro
❖ Construction of Pre-treatment plant,
❖ Technology Center,
❖ Hydrometallurgy engineering completion
❖ Solid lead investor: IMM Investment Global’s
❖ Desire in building the EV circular economy
❖ Strong relations with key Korean battery players
❖ $5.4 billion* of assets under management
❖ Already a Licensing Partnership Agreement signed.
❖ With IS Dongseo 1.15B USD market capitalization
❖ Exclusive agreement for the Korean market
❖ Pre-treatment and Hydromet plant deployment starting in 2022-2023
Securing strong financial partners to keep growing.

8. CONFIDENTIAL
Technology

9. 9
CONFIDENTIAL
Key challenges of battery recycling
Scarcity of
strategic
minerals
Safety of
recycling li-ion
batteries
Maximizing value
generated by
recycling
technologies
Reducing GHG
emissions from
recycling
operations
$
VOLUME SCARCITY SECURITY VALUE GHG
Volume to justify
recycling
operations
All addressed by Lithion’s technology and processes.

10. 10
CONFIDENTIAL
Closing the Loop
SIZE
REDUCTION
Iron, Aluminium,
Copper, Plastics
Nickel
sulfate
Lithium
carbonate
Cobalt
sulfate
LEACHING 8EXTRACTION
Graphite
LEACHING
Impurities
PRODUCT
SEPARATION
Transfer
of Black
Mass
LOCAL
RECYCLING
POST-
TREATMENT
BATTERY
GRADE
MATERIAL
BATTERY GRADE
MATERIALS
Manganese
sulfate
Hydromet
Shredding

11. 11
Lithion’s Technologies
Black Mass
KEY DIFFERENTIATORS:
✓Battery type and chemistry agnostic
✓Low EHS risk
✓98% black mass recovery rate
✓No discharging required
KEY DIFFERENTIATORS:
✓Battery-grade cathode materials
✓Graphite recovery and purification
✓Over 95% of the value materials recovered
✓Low environmental impact
Pre-Treatment Hydromet
Expertise 100% in-house; no outsourcing involved at any step of our processes.

12. 12
CONFIDENTIAL
Highly Effective Black Mass Extraction

13. CONFIDENTIAL
Scale-Up Challenge
The foundation for a global network

14. 14
CONFIDENTIAL
❖ Identify critical operating parameters (COP’s)
❖ Identify process operation limits:
❖ Safety of operation
❖ Reliability of equipment and construction material
❖ Quality of end products
❖ Assist the engineering work
❖ Confirm specific design criteria
❖ Obtain more precise CAPEX and OPEX estimates
❖ Demonstrate process to finance next
deployment phase
❖ De-risk commercial scale-up
❖ About 8X scale up at shredding
❖ About 20X scale up at hydrometallurgy
Our demo plant means confidence in our
processes and technologies.

15. 15
CONFIDENTIAL
Our demo plant means confidence in our
results
Excellent performance results achieved
Recovery on Black Mass
Recovery on Cobalt, Nickel, Manganese
Recovery on Lithium
Recovery on Graphite
De-risking via extensive piloting at industrial scale:
• Commercial type equipment
• Representative samples
• Operational know-how gained for over 27 months
>97%
>95%
>95%
>98%
Recovery and purity percentages will continue to
improve with ongoing fine-tuning to purification steps.
We target 95%+ recovery for our first commercial facility.

16. 16
CONFIDENTIAL
❖Battery-grade end-products under
evaluation with offtakers
❖ Confirms technology
❖Ongoing detailed engineering to ground
breaking
❖ Fully funded
❖Technology demonstrated for 30
months
❖SOP by end of 2025
Hydromet Scale-Up

17. 17
✓ Land and building have been
leased in greater Montreal
✓ Main plant items ordered
✓ Financing completed
✓ Detailed engineering completed
Capacity: 7 500 mt/y
SOP: Q3 2023
Shredding Plant #1 Update
Objective: Create a green and
local source of battery materials

18. 18
CONFIDENTIAL
❖Permanent demonstration plant
❖Continuous adaptation of the recycling
technology to
❖ upcoming battery technology
❖ evolving battery material specifications
❖Hands-on training center & support
team for licensees
❖35,000 square feet
Lithion’s Tech & R&D Centre
Recycling the battery of tomorrow

19. CONFIDENTIAL
Licensing,
as a deployment strategy

20. 20
CONFIDENTIAL
Lithion in the Battery Supply Chain
Mining Refining
Cathode
and Anode
Cells
Modules and
Packs End Product
Cathode
Powder
Wet and
Dry Rolls +
Off-spec
Cells
Off-spec
Modules
In-warranty
modules
and packs
Car
Recyclers
Electronics
Recyclers
Dealers
Reuse or
2nd Life
Energy
Storage
Recycled Sulfates, Lithium and
Graphite

21. 21
CONFIDENTIAL
Technology Deployment Through Licensing
Why licensing?
• Leverage and federate the forces
of the industry
• Scale rapidly
• Limit transportation of EOL Batteries
Where?
Establish Shredding and Hydromet on
battery production sites and strategic
high-volume EV markets.
When?
2023 in NA and 2024 in Europe

22. 22
CONFIDENTIAL
Lithion’s 2035 Target Footprint
2
8 2
8
North America Europe Asia
4 1
Locations to maximize efficiency and minimize environmental impact
in battery production sites and strategic high-volume EV markets through joint
ventures and licensing partnerships.

23. 23
CONFIDENTIAL
1. Technology
• State-of-the-Art technology
• Technical support and process improvement.
2. Commercial
• Access to Feedstock
• Agreement with OEM
3. Financial
• Sharing CAPEX investment
• Ensuring the interest of both parties through
time.
Partnerships through licensing
Our business model allows for rapid and locally adapted
implementation of our solutions.

24. CONFIDENTIAL
Thank you
Contact:
Christian Lafrance
Head of Business Development, Europe
c.lafrance@lithionrecycling.com
+1-514-971-2992