Markforged provides an accessible, industrial-grade additive manufacturing solution through its integrated digital forge platform. It offers 3D printers and a variety of composite and metal materials that address a broad range of applications. Markforged has a large and growing total addressable market and projects strong revenue growth through 2025 as its customer base and number of connected printers increases.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. Key points include that MedReleaf is offering shares at $9.50-$10.50 per share to raise approximately $100 million Canadian dollars, which will be used to expand their existing cannabis production facility, develop new products, and for general corporate purposes. Investors are warned to consider the risks disclosed in the prospectus and that forward-looking statements are based on estimates and assumptions. The presentation highlights MedReleaf's current operational success, low production costs, high market share, and near-term expansion plans.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. Key points include that MedReleaf is seeking to raise approximately $100 million Canadian dollars in an IPO priced between $9.50-$10.50 per share. Proceeds will be used to expand MedReleaf's existing cannabis production and manufacturing facilities, fund clinical research, and for general working capital purposes. The presentation highlights MedReleaf's current operational success and leadership in the Canadian medical cannabis market.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. It outlines key details of the offering such as the issuer, selling shareholders, offering price range between $9.50-$10.50 per share, expected size of $100 million, and intended use of proceeds. It also highlights MedReleaf's leadership in the Canadian medical cannabis market through its high quality indoor cultivation facilities, low production costs, revenue growth while maintaining profitability, and plans for expansion.
Corporate presentation january 17, 2017 - finalcorpaveda2015
This document is a corporate presentation for Aveda Transportation and Energy Services Inc. regarding a preliminary short form prospectus offering of securities. It provides an overview of Aveda's history and operations, but cautions investors that the information is not comprehensive and that the securities have risks. It directs readers to the prospectus for full disclosure and includes standard disclaimers about forward-looking statements and non-IFRS measures.
This document provides a disclaimer and disclosures for a presentation about a proposed business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. It notes that the presentation is for informational purposes only and should not be relied upon to form investment decisions. It also warns that the presentation contains forward-looking statements about future events that are inherently uncertain and subject to risks. Financial projections in the presentation represent estimates and targets that are speculative in nature. The document also discusses how data, financial metrics, and other information in the presentation are derived and should be interpreted.
The Health & Wellness market in the UK was valued at £23bn in 2020, an increase from £20.5bn in 2015. Total healthcare, wellness and fitness spending in the UK reached £209bn in 2020. Pure Restore Health provides innovative treatments and therapies utilizing the latest healthcare technologies to help people feel their best by addressing issues like chronic pain, injury recovery, athletic performance and more.
Circle is a crypto payment company that provides the infrastructure that enables businesses of all sizes to leverage the power of digital currencies and public blockchains for payments, commerce, and financial applications.
The peer-to-peer payments technology startup was founded by Jeremy Allaire and Sean Neville in October 2013, and is best known for being the issuer of the USDC stablecoin ($55 billion in circulation August 2022).
The cryptocurrency operator went public via a SPAC merger deal valued at $9 billion with Concord Acquisition Corp (CND.N), a blank-check firm backed by former Barclays boss Bob Diamond.
Read more: https://bestpitchdeck.com/circle-internet
Markforged provides an accessible, industrial-grade additive manufacturing solution through its integrated digital forge platform. It offers 3D printers and a variety of composite and metal materials that address a broad range of applications. Markforged has a large and growing total addressable market and projects strong revenue growth through 2025 as its customer base and number of connected printers increases.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. Key points include that MedReleaf is offering shares at $9.50-$10.50 per share to raise approximately $100 million Canadian dollars, which will be used to expand their existing cannabis production facility, develop new products, and for general corporate purposes. Investors are warned to consider the risks disclosed in the prospectus and that forward-looking statements are based on estimates and assumptions. The presentation highlights MedReleaf's current operational success, low production costs, high market share, and near-term expansion plans.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. Key points include that MedReleaf is seeking to raise approximately $100 million Canadian dollars in an IPO priced between $9.50-$10.50 per share. Proceeds will be used to expand MedReleaf's existing cannabis production and manufacturing facilities, fund clinical research, and for general working capital purposes. The presentation highlights MedReleaf's current operational success and leadership in the Canadian medical cannabis market.
This document summarizes an investor presentation for MedReleaf Corp.'s initial public offering. It outlines key details of the offering such as the issuer, selling shareholders, offering price range between $9.50-$10.50 per share, expected size of $100 million, and intended use of proceeds. It also highlights MedReleaf's leadership in the Canadian medical cannabis market through its high quality indoor cultivation facilities, low production costs, revenue growth while maintaining profitability, and plans for expansion.
Corporate presentation january 17, 2017 - finalcorpaveda2015
This document is a corporate presentation for Aveda Transportation and Energy Services Inc. regarding a preliminary short form prospectus offering of securities. It provides an overview of Aveda's history and operations, but cautions investors that the information is not comprehensive and that the securities have risks. It directs readers to the prospectus for full disclosure and includes standard disclaimers about forward-looking statements and non-IFRS measures.
This document provides a disclaimer and disclosures for a presentation about a proposed business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. It notes that the presentation is for informational purposes only and should not be relied upon to form investment decisions. It also warns that the presentation contains forward-looking statements about future events that are inherently uncertain and subject to risks. Financial projections in the presentation represent estimates and targets that are speculative in nature. The document also discusses how data, financial metrics, and other information in the presentation are derived and should be interpreted.
The Health & Wellness market in the UK was valued at £23bn in 2020, an increase from £20.5bn in 2015. Total healthcare, wellness and fitness spending in the UK reached £209bn in 2020. Pure Restore Health provides innovative treatments and therapies utilizing the latest healthcare technologies to help people feel their best by addressing issues like chronic pain, injury recovery, athletic performance and more.
Circle is a crypto payment company that provides the infrastructure that enables businesses of all sizes to leverage the power of digital currencies and public blockchains for payments, commerce, and financial applications.
The peer-to-peer payments technology startup was founded by Jeremy Allaire and Sean Neville in October 2013, and is best known for being the issuer of the USDC stablecoin ($55 billion in circulation August 2022).
The cryptocurrency operator went public via a SPAC merger deal valued at $9 billion with Concord Acquisition Corp (CND.N), a blank-check firm backed by former Barclays boss Bob Diamond.
Read more: https://bestpitchdeck.com/circle-internet
This management presentation discusses Sleep Country Canada's initial public offering. It provides an overview of the company as the leading specialty mattress retailer in Canada, with a national footprint and market leading brand recognition and traffic. The presentation highlights Sleep Country's best-in-class retail strategy focused on an unrivaled in-store customer experience through highly trained staff and superior home delivery. Financial highlights and growth targets are presented, noting the company's attractive financial model and ability to generate strong cash flow. Risk factors and forward-looking statements are also discussed.
Quabit unveils its 2018-2022 Business Plan update.
The company is set to position itself as one of the leading real estate developers in Spain already in 2021. Current share price represents a huge opportunity as the company is trading at a very significant discount over Book Value and over NAV and it is planned to reach a 17%-20% ROE in 2022.
BuildDirect's Q2 2022 investor presentation highlights a decrease in revenue and gross profit compared to the previous quarter, largely due to slowing customer demand, while adjusted EBITDA grew significantly. The presentation emphasizes BuildDirect's strategy of focusing on professional customers through acquisitions that expand its product assortment and customer base. It also discusses risks associated with suppliers, competition, and attracting and retaining customers.
Quabit reported results for fiscal year 2018 with the following highlights:
- Successful capital increases of €63 million and €6 million strengthened the financial position with equity increasing 31% and loan-to-value decreasing 16 percentage points.
- The business plan is on track with 190 home units delivered in 2018, strong investments in the land bank exceeding €180 million since 2017, new developments launched with 1,467 home units in 2018 representing 18% of the 2018-2022 plan, and commercial strength with 793 pre-sales in 2018 increasing 148% compared to 2017.
- Approximately 4,000 home units are under development representing 50% of the 2018-2022 business plan, and a management incentive plan was
This presentation contains forward-looking statements and discusses StoneCo's plans, strategies, and estimates. It provides non-IFRS financial measures as additional information but notes they have limitations. The presentation contains charts and graphs showing financial data but cautions that forecasts cannot be reconciled to IFRS figures. The presentation introduces StoneCo's new leadership team noting their experience.
This document contains forward-looking statements about StoneCo Ltd.'s plans, strategies, prospects, and estimates of industry growth. It warns that these statements involve risks and uncertainties that could cause actual results to differ materially from expectations. The document also notes that non-IFRS financial measures are presented to supplement IFRS measures but should not be considered substitutes, and have limitations. Certain estimates are unable to be reconciled to IFRS measures and involve underlying assumptions that may not be realized.
IHS Markit, a global leader in critical information, analytics and solutions, will merge, creating an even larger combined company. The merger faces risks including difficulties integrating operations and achieving synergies. It requires shareholder and regulatory approval. If approved, the merger would result in a combined company with greater scale and resources.
Mo e investor roadshow presentation final 032116InvestorMarkit
IHS and Markit, two global information providers, will merge to create a new combined company called IHS Markit. The all-stock deal values Markit at $6.25 billion and will make IHS Markit a leader in critical information, analytics, and solutions. Jerre Stead will be Chairman and CEO of the new company initially. The merger is expected to close in the second half of 2016 pending shareholder and regulatory approvals.
Quabit is one of the top 5 Spain's Residential Developers with ore than 3.700 dwellings under development. here is the 9 mothns up to September '18 Report
This document provides information about an initial public offering, including that a preliminary prospectus has been filed with securities regulators containing important information about the securities. The preliminary prospectus is still subject to completion and securities will not be sold until a receipt for the final prospectus has been issued. The document also advises that the preliminary prospectus should be read for full disclosure before making an investment decision.
Real matters Investor Presentation - April 26 2017 redactedrealmatters2016
This document provides information about an initial public offering, including that a preliminary prospectus has been filed with securities regulators containing important information about the securities. The preliminary prospectus is still subject to completion and securities will not be sold until a receipt for the final prospectus has been issued. The document also advises that prospective investors should rely only on the information in the preliminary prospectus and refers readers to risk factors and other disclosures contained therein.
- Apifiny aims to launch a global digital asset trading, clearing and settlement network in Q4 2022 that will connect exchanges and allow cross-exchange trading through a single API.
- It currently connects 32 exchanges and offers 127 crypto trading pairs, with plans to expand its product offerings.
- Apifiny sees an opportunity to unify the fragmented digital asset trading market and provide traders with access to deep global liquidity at the best prices.
This corporate presentation discusses Osisko Gold Royalties Ltd's performance and portfolio:
- Osisko has generated over $700 million in cash and available credit with $221.7 million in investments and a steadily increasing dividend. Revenues have grown from $45.4 million to $62.7 million from 2015 to 2016.
- Osisko has a high quality portfolio of gold royalties focused on North America, including two premier producing assets in Quebec and Ontario. The portfolio provides cash flow from producing assets and optionality from over 50 exploration stage royalties.
- The presentation is intended to assist investors and includes forward-looking statements and cautions about mineral resource estimates according to Canadian versus U.S
- Osisko reported 20,005 GEOs earned in Q4 2018 and a record 80,553 GEOs earned for the full year 2018, up 37% from 2017.
- Revenues from royalties and streams were $30.7 million in Q4 2018 and a record $127.6 million for 2018, up 36% from 2017.
- Net loss attributable to shareholders was $113.9 million in Q4 2018 and $105.6 million for 2018, reflecting impairment charges. Excluding impairment charges, adjusted earnings were $13.0 million in Q4 2018.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
This presentation summarizes StoneCo's 2Q21 earnings. Key highlights include:
- Over 1 million active SMB clients with 188,000 net adds in 2Q21. Average TPV per SMB client increased 8% q/q.
- Short-term challenges in the Credit product led to negative revenue impact of R$397.2mm and increased provisions.
- Total Revenue and Income excluding Credit grew 68% y/y. Adjusted EBT excluding Credit grew 58% y/y.
- Software revenue grew 52.5% organically to R$62.4mm. Annualized pro-forma software revenue is over R$1.2b.
- 273,000 SMB
Max Healthcare Institute Limited's investor presentation provides an overview of the company and its growth drivers. It highlights the following key points in 3 sentences:
Max Healthcare is India's second largest hospital chain in terms of revenue, EBITDA and market capitalization, with a dominant presence in the largest and most profitable markets of Delhi NCR and Mumbai. It has a vision to be the most well regarded healthcare provider in India committed to clinical excellence, cutting edge technology, and research. The presentation outlines Max Healthcare's track record, strategic focus areas, and financial performance to position it for continued strong growth and profitable expansion.
Markit Investor Presentation - September 2015InvestorMarkit
The investor presentation summarizes Markit's business and financial performance. It provides an overview of Markit's three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation services. The Processing division offers trade processing solutions for OTC derivatives, FX, and syndicated loans. The Solutions division provides enterprise software and managed services. Financial highlights include 2014 revenue of $1.1 billion and adjusted EBITDA of $488 million across the three divisions. Acquisitions are an important part of Markit's growth strategy to expand its product and service offerings.
Trilogy International Partners Inc. held an investor presentation in September 2019 to provide an overview of the company and its two main operating segments, 2degrees in New Zealand and NuevaTel in Bolivia. The summary discusses:
- 2degrees has seen strong double-digit revenue and subscriber growth in New Zealand in 2019. It operates in a stable three-player mobile market with opportunities for continued growth in postpaid subscribers and data adoption.
- NuevaTel closed a $100 million tower sale-leaseback agreement in Bolivia and launched fixed LTE services. The business is showing signs of stabilizing after pricing pressures and number portability issues impacted results in 2018.
- The presentation evaluates Trilogy
Dow and DuPont will combine in a merger of equals to create three independent companies focused on agriculture, material science, and specialty products. The merger is expected to generate $3 billion in cost synergies and unlock $30 billion in market value. The new company, named DowDuPont, will have a combined market capitalization of $130 billion. It will later separate into an agriculture company, a material science company that is a leader in its industry, and a specialty products company with strong innovation capabilities.
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
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This management presentation discusses Sleep Country Canada's initial public offering. It provides an overview of the company as the leading specialty mattress retailer in Canada, with a national footprint and market leading brand recognition and traffic. The presentation highlights Sleep Country's best-in-class retail strategy focused on an unrivaled in-store customer experience through highly trained staff and superior home delivery. Financial highlights and growth targets are presented, noting the company's attractive financial model and ability to generate strong cash flow. Risk factors and forward-looking statements are also discussed.
Quabit unveils its 2018-2022 Business Plan update.
The company is set to position itself as one of the leading real estate developers in Spain already in 2021. Current share price represents a huge opportunity as the company is trading at a very significant discount over Book Value and over NAV and it is planned to reach a 17%-20% ROE in 2022.
BuildDirect's Q2 2022 investor presentation highlights a decrease in revenue and gross profit compared to the previous quarter, largely due to slowing customer demand, while adjusted EBITDA grew significantly. The presentation emphasizes BuildDirect's strategy of focusing on professional customers through acquisitions that expand its product assortment and customer base. It also discusses risks associated with suppliers, competition, and attracting and retaining customers.
Quabit reported results for fiscal year 2018 with the following highlights:
- Successful capital increases of €63 million and €6 million strengthened the financial position with equity increasing 31% and loan-to-value decreasing 16 percentage points.
- The business plan is on track with 190 home units delivered in 2018, strong investments in the land bank exceeding €180 million since 2017, new developments launched with 1,467 home units in 2018 representing 18% of the 2018-2022 plan, and commercial strength with 793 pre-sales in 2018 increasing 148% compared to 2017.
- Approximately 4,000 home units are under development representing 50% of the 2018-2022 business plan, and a management incentive plan was
This presentation contains forward-looking statements and discusses StoneCo's plans, strategies, and estimates. It provides non-IFRS financial measures as additional information but notes they have limitations. The presentation contains charts and graphs showing financial data but cautions that forecasts cannot be reconciled to IFRS figures. The presentation introduces StoneCo's new leadership team noting their experience.
This document contains forward-looking statements about StoneCo Ltd.'s plans, strategies, prospects, and estimates of industry growth. It warns that these statements involve risks and uncertainties that could cause actual results to differ materially from expectations. The document also notes that non-IFRS financial measures are presented to supplement IFRS measures but should not be considered substitutes, and have limitations. Certain estimates are unable to be reconciled to IFRS measures and involve underlying assumptions that may not be realized.
IHS Markit, a global leader in critical information, analytics and solutions, will merge, creating an even larger combined company. The merger faces risks including difficulties integrating operations and achieving synergies. It requires shareholder and regulatory approval. If approved, the merger would result in a combined company with greater scale and resources.
Mo e investor roadshow presentation final 032116InvestorMarkit
IHS and Markit, two global information providers, will merge to create a new combined company called IHS Markit. The all-stock deal values Markit at $6.25 billion and will make IHS Markit a leader in critical information, analytics, and solutions. Jerre Stead will be Chairman and CEO of the new company initially. The merger is expected to close in the second half of 2016 pending shareholder and regulatory approvals.
Quabit is one of the top 5 Spain's Residential Developers with ore than 3.700 dwellings under development. here is the 9 mothns up to September '18 Report
This document provides information about an initial public offering, including that a preliminary prospectus has been filed with securities regulators containing important information about the securities. The preliminary prospectus is still subject to completion and securities will not be sold until a receipt for the final prospectus has been issued. The document also advises that the preliminary prospectus should be read for full disclosure before making an investment decision.
Real matters Investor Presentation - April 26 2017 redactedrealmatters2016
This document provides information about an initial public offering, including that a preliminary prospectus has been filed with securities regulators containing important information about the securities. The preliminary prospectus is still subject to completion and securities will not be sold until a receipt for the final prospectus has been issued. The document also advises that prospective investors should rely only on the information in the preliminary prospectus and refers readers to risk factors and other disclosures contained therein.
- Apifiny aims to launch a global digital asset trading, clearing and settlement network in Q4 2022 that will connect exchanges and allow cross-exchange trading through a single API.
- It currently connects 32 exchanges and offers 127 crypto trading pairs, with plans to expand its product offerings.
- Apifiny sees an opportunity to unify the fragmented digital asset trading market and provide traders with access to deep global liquidity at the best prices.
This corporate presentation discusses Osisko Gold Royalties Ltd's performance and portfolio:
- Osisko has generated over $700 million in cash and available credit with $221.7 million in investments and a steadily increasing dividend. Revenues have grown from $45.4 million to $62.7 million from 2015 to 2016.
- Osisko has a high quality portfolio of gold royalties focused on North America, including two premier producing assets in Quebec and Ontario. The portfolio provides cash flow from producing assets and optionality from over 50 exploration stage royalties.
- The presentation is intended to assist investors and includes forward-looking statements and cautions about mineral resource estimates according to Canadian versus U.S
- Osisko reported 20,005 GEOs earned in Q4 2018 and a record 80,553 GEOs earned for the full year 2018, up 37% from 2017.
- Revenues from royalties and streams were $30.7 million in Q4 2018 and a record $127.6 million for 2018, up 36% from 2017.
- Net loss attributable to shareholders was $113.9 million in Q4 2018 and $105.6 million for 2018, reflecting impairment charges. Excluding impairment charges, adjusted earnings were $13.0 million in Q4 2018.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
This presentation summarizes StoneCo's 2Q21 earnings. Key highlights include:
- Over 1 million active SMB clients with 188,000 net adds in 2Q21. Average TPV per SMB client increased 8% q/q.
- Short-term challenges in the Credit product led to negative revenue impact of R$397.2mm and increased provisions.
- Total Revenue and Income excluding Credit grew 68% y/y. Adjusted EBT excluding Credit grew 58% y/y.
- Software revenue grew 52.5% organically to R$62.4mm. Annualized pro-forma software revenue is over R$1.2b.
- 273,000 SMB
Max Healthcare Institute Limited's investor presentation provides an overview of the company and its growth drivers. It highlights the following key points in 3 sentences:
Max Healthcare is India's second largest hospital chain in terms of revenue, EBITDA and market capitalization, with a dominant presence in the largest and most profitable markets of Delhi NCR and Mumbai. It has a vision to be the most well regarded healthcare provider in India committed to clinical excellence, cutting edge technology, and research. The presentation outlines Max Healthcare's track record, strategic focus areas, and financial performance to position it for continued strong growth and profitable expansion.
Markit Investor Presentation - September 2015InvestorMarkit
The investor presentation summarizes Markit's business and financial performance. It provides an overview of Markit's three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation services. The Processing division offers trade processing solutions for OTC derivatives, FX, and syndicated loans. The Solutions division provides enterprise software and managed services. Financial highlights include 2014 revenue of $1.1 billion and adjusted EBITDA of $488 million across the three divisions. Acquisitions are an important part of Markit's growth strategy to expand its product and service offerings.
Trilogy International Partners Inc. held an investor presentation in September 2019 to provide an overview of the company and its two main operating segments, 2degrees in New Zealand and NuevaTel in Bolivia. The summary discusses:
- 2degrees has seen strong double-digit revenue and subscriber growth in New Zealand in 2019. It operates in a stable three-player mobile market with opportunities for continued growth in postpaid subscribers and data adoption.
- NuevaTel closed a $100 million tower sale-leaseback agreement in Bolivia and launched fixed LTE services. The business is showing signs of stabilizing after pricing pressures and number portability issues impacted results in 2018.
- The presentation evaluates Trilogy
Dow and DuPont will combine in a merger of equals to create three independent companies focused on agriculture, material science, and specialty products. The merger is expected to generate $3 billion in cost synergies and unlock $30 billion in market value. The new company, named DowDuPont, will have a combined market capitalization of $130 billion. It will later separate into an agriculture company, a material science company that is a leader in its industry, and a specialty products company with strong innovation capabilities.
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MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
2. FORWARD LOOKING STATEMENTS
This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be
identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics,
projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the transaction and the potential success of Li-Cycle’s strategy, and
expectations related to the terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this presentation, and on the current expectations of Li-Cycle’s and
Peridot’s management and are not predictions of actual performance. Actual events and circumstances are difficult or impossible to predict and will differ from the underlying assumptions. Many actual events and
circumstances are beyond the control of Li-Cycle and Peridot. These forward-looking statements are subject to a number of risks and uncertainties, whether currently known or not yet known, including but not
limited Li-Cycle’s and Peridot’s inability to complete the proposed business combination; matters discovered by the parties as they complete their respective due diligence investigation of the other; the number
and percentage of Peridot’s public shareholders voting against the proposed business combination and/or seeking redemption; the ability of Peridot to satisfy the listing criteria of the New York Stock Exchange;
changes adversely affecting the business in which Li-Cycle is engaged; management of growth; general economic conditions; geopolitical events, natural disasters, acts of God and pandemics, including, but not
limited to, the economic and operational disruptions and other effects of COVID-19; commodity price risk; environmental/permitting risk; Li-Cycle’s business strategy and plans and the result of future financing
efforts. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking
statements reflect Peridot’s and Li-Cycle’s expectations, plans or forecasts of future events and views as of the date of this presentation. Peridot and Li-Cycle anticipate that subsequent events and developments
will cause Peridot’s and Li-Cycle’s assessments to change. However, while Peridot and Li-Cycle may elect to update these forward-looking statements in the future, each of Peridot and Li-Cycle specifically
disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Peridot’s and Li-Cycle’s assessments as of any date subsequent to the date of this presentation.
Accordingly, you should not place undue reliance on the forward-looking statements.
USE OF PROJECTIONS
This presentation contains projected financial information with respect to Li-Cycle. Such projected financial information constitutes forward-looking information, is included for illustrative purposes only and
should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety
of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking financial information. Actual results
may differ materially from the results contemplated by the projected financial information contained in this presentation, and the inclusion of such information in this presentation should not be regarded as a
representation by any person that the results reflected in such projections will be achieved.
The independent auditors of Peridot and of Li-Cycle did not audit, review, compile or perform any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly,
neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation.
FINANCIAL INFORMATION; NON-IFRS FINANCIAL MEASURES
The financial information and data contained in this presentation has not been audited and does not conform to Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or
may be presented differently in, any proxy statement, registration statement or prospectus to be filed by Peridot with the SEC. Some of the financial information and data contained in this presentation, such as
projected EBITDA and EBITDA margin, have not been prepared in accordance with IFRS. Li-Cycle defines EBITDA as net income (loss) before interest, taxes, and depreciation, and EBITDA margin as EBITDA divided by
total revenues. Peridot and Li-Cycle believe these non-IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Li-
Cycle’s financial condition and results of operations. These non-IFRS measures may not be indicative of Li-Cycle’s historical operating results nor are such measures meant to be predicative of future results. These
measures and ratios may not be comparable to those used by other companies under the same or similar names. As such, undue reliance should not be placed on these non-IFRS financial measures.
2
Disclaimer
3. 3
Disclaimer – Continued
ADDITIONAL INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT
If the parties enter into definitive documentation, the proposed business combination will be submitted to shareholders of Peridot for their consideration. Peridot intends to file a preliminary and
definitive proxy statement to be distributed to Peridot’s shareholders in connection with Peridot’s solicitation of proxies for the vote by Peridot’s shareholders in connection with the proposed business
combination and other matters described therein. Peridot will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the
proposed business combination. Peridot’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement and, once available, the definitive proxy
statement, in connection with Peridot’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these
documents will contain important information about Peridot, Li-Cycle and the proposed business combination.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities to be issued in the proposed business combination or determined if
this presentation is truthful or complete.
PARTICIPANTS IN THE SOLICITATION
Peridot, Li-Cycle and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of
proxies from Peridot’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of
Peridot’s shareholders in connection with the proposed business combination will be set forth in Peridot’s proxy statement when it is filed with the SEC. You can find more information about Peridot’s
directors and executive officers in Peridot’s prospectus dated September 23, 2020 relating to its initial public offering.
NO OFFER OR SOLICITATION
This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
TRADEMARKS
This presentation contains trademarks, service marks, trade names and copyrights of Li-Cycle, Peridot and other companies, which are the property of their respective owners.
4. 4
Preston Powell
Peridot Director
Carnelian Managing Director
Alan Levande
Chairman, CEO - Peridot
Ajay Kochhar
Co-Founder, President & CEO,
Executive Director
Tim Johnston
Co-Founder,
Executive Chairman
Bruce MacInnis
CFO
Attractive Business Combination Between Leading Li-Ion Battery
Recycling Business and Highly Regarded SPAC Investment Team
5. 5
OVERVIEW Li-Cycle is a market leading lithium-ion battery resource recovery company and the largest lithium-ion battery
recycler in NAM
Peridot Acquisition Corp. is a blank check company sponsored by Carnelian Energy Capital targeting energy
transition-focused opportunities
Proceeds raised via Peridot merger and PIPE fully fund required capex to build Li-Cycle’s Spoke-and-Hub facilities
PIPE OVERVIEW Fully committed, upsized $315 million PIPE
PIPE investors include Neuberger Berman Funds, Franklin Templeton and Mubadala Capital. Also includes Peridot
sponsor Carnelian Energy Capital, existing Li-Cycle investor Moore Strategic Ventures and global marketing and
strategic off-take partner Traxys
CAPITAL
STRUCTURE
Li-Cycle’s shareholders are rolling 100% of their equity
Pro Forma for the transaction, Li-Cycle will have $566mm of cash and no debt(1)
Li-Cycle is commercial today and expects to be cash flow positive (net of capital expenditures) by 2024E
VALUATION Enterprise Value of $1,099mm, which is 10.1x of 2023E EBITDA or 3.2x 2024E EBITDA
Represents a 73% discount to future value derived from 2024E EBITDA discounted to today
Transaction Overview
Li-Cycle is a unique and compelling investment opportunity and is a market leader in the lithium-ion battery recycling sector
Note:
(1) Assumes no Peridot shareholder redemptions.
6. 6
Li-Cycle Sits at the Intersection of Three Core Themes
Sustainable Li-Ion Battery Recycling is the Missing Battery Supply Chain Step
EV Revolution
ESG
Domestic
Supply Of
Strategic
Materials
7. Growing
Electrified
Market
Large and growing market in lockstep
with the manufacturing of batteries;
critical to meet demands of an
accelerated transition to an electrified
future
7
Material Demand
& Regulatory
Tailwinds
Increasingly stringent policy directives
have accelerated the demand for
battery materials and recycling
Sustainable
Recycling Solution
Zero impact air emissions(1); non-pyro
/ no burning; water recirculated in a
closed loop; regionally-driven
business, reducing cost associated
with battery transport
Proven, Patented
Technology
Industry-leading up to 95% recycling
efficiency rate(2) (versus ≤50% of
competitors) with significant IP moat
Commercial Today,
Poised to Scale
Further
Capital being raised will allow us to
establish a defensible footprint in the
global market for recycling
Patented, Sustainable Technology with a Durable Moat
Robust Customer
Network
40+ existing commercial contracts
with blue chip suppliers and off-take
agreements through 2030; sticky
supply contracts
Source:
(1) Based on emissions directly from the process.
(2) Recycling Efficiency Rate (RER) is defined as [(The mass exiting the process and returning to the economy / The battery material mass entering the process) x 100%].
8. 465
1,344
2,619
2020 2025 2030
Massive Electrification Ramp Creating Lithium-Ion Recycling Imperative
8
Shortage of domestic
lithium, cobalt and nickel
Global EV
and Battery
Adoption
Manufacturing scrap and
end-of-life battery waste
Electric Vehicle Sales
(millions)
Critical need for scalable,
environmentally friendly
recycling solution
Source: Benchmark Mineral Intelligence, BloombergNEF Electric Vehicle Outlook 2020.
Lithium-Ion Batteries for Recycling
(Thousands of tonnes/year)
2
9
26
2020 2025 2030
5% - 10% of battery production is typically rejected as waste during
the manufacturing process, creating significant recycling needs
during EV ramp-up, in addition to building end-of-lifecycle supply
9. Economically Advantageous and Customer-Centric Spoke & Hub Model
9
Spoke 1
Kingston, ON
Spoke 2
Rochester, NY
Spoke “N”
Network of Spokes
Lithium-ion Batteries
for Recycling
Shredding & Mechanical
Separation
Extraction & Material
Recovery
Battery Grade & Refined
Materials
Lithium Carbonate
Battery cathode, battery
electrolyte salt, glass,
pharmaceuticals
Cobalt Sulphate
Battery cathode,
glass pigment
Nickel Sulphate
Battery cathode,
electroplating,
glass pigment
Black Mass
Interim sales to nickel
recovery; input to Hub;
easily transportable
relative to batteries
Intermediate Products
Hub 1
Rochester, NY
Hub “N”
Centralized Hub
per Region
Spoke Mechanical
Hub Hydrometallurgical
Manganese
Carbonate
Intermediate for battery
grade product production,
steel making
Shredded Cu/Al
Copper and precious
metals recovery
Mixed Plastics
Plastics conversion
into products
Sold into the market
10. 10
Hub completion and start of ramp-up
expected between Q4 2022 and Q1 2023
Auto OEMs /
Transportation,
16%
Manufacturing
Scrap, 29%
Consumer
Electronics,
50%
Energy Storage
Systems, 5%
Future Off-Take
9,500 t/y
Contracted Supply
Small Format:
Largest Battery Aggregators
Commercial supply contracts with 41
total customers
Large Format:
Top Electric Auto Manufacturers
Agreements with largest global consumers of
black mass
Current Off-Take
~30% of North American
Market Share(1)
Contracted Supply and Off-Take Complete a Closed Loop Strategy
Traxys is contracted to off-take 100% of end
products from NA Commercial Hub
Example Industry Sources of
Batteries for Recycling
Source:
(1) Company data calculated by total addressable market forecast.
Industry Inputs Key Highlights of Li-Cycle’s Supply and Off-Take
11. Li-Cycle’s Technology Is Superior to Other Forms of Recycling
11
Li-Cycle Spoke-and-Hub
Technologies
Smelting or Thermal
Pre-Treatment +
Refining
Cathode-to-Cathode
Recycling
Efficiency
Rate(1)
Up to 95% ≤ 50%
30%
(cathode proportion only)
Battery Chemistry
& Charge Agnostic
Non-Thermal,
Zero Impact
Air Emissions
No Landfill
Waste or
Wastewater
Minimal Human
Operating Risk
“Future Proofed”
Source:
(1) Recycling Efficiency Rate (RER) is defined as [(The mass exiting the process and returning to the economy / The battery material mass entering the process) x 100%]
12. 12
Nickel
(tonnes)
Lithium Carbonate Cobalt
Source: IHS Markit – Li-Ion Battery Recycling Report: 2020.
(1) The Wall Street Journal.
(tonnes) (tonnes)
Total Demand for Batteries
“Any mining companies out there, please mine more nickel… go for efficiency, obviously environmentally-friendly nickel mining at high
volume. Tesla will give you a giant contract for a long period of time, if you mine nickel efficiently and in an environmentally-sensitive
way. So hopefully this message goes out to all mining companies. Please get nickel.”
— Elon Musk, Co-Founder, Chief Executive Officer, Director, Tesla,
Tesla’s Q2 2020 Earnings Call
150,000
400,000
650,000
900,000
1,150,000
2020 2025 2030
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2020 2025 2030
0
50,000
100,000
150,000
200,000
250,000
2020 2025 2030
Electrification Drives Critical Demand for Battery Grade End Products
75%+ of today’s cobalt is sourced from the
Congo, where a non-negligible portion of
supply has been tied to child labor (1)
13. Manufacturing Scrap
29%
Auto OEMs
16%
Consumer
Electronics
50%
Energy Storage Systems
5%
13
Battery Consolidators &
Electronic Waste Recyclers(1)
Manufacturing Scrap
& Auto OEMs(1) Energy Storage Systems(1)
End-of-life collection through
aggregators
Scrap materials, production
and end-of-life
End-of-life supply from
storage facilities
Manufacturing Scrap
68%
Auto OEMs
25%
Consumer Electronics
5%
Energy Storage Systems
2%
Battery Waste Sources Today Battery Waste Sources in 2025
Diversified Supply of Batteries Drives Recycling Need
Source: Company data.
(1) Sources of batteries for recycling available in the market.
$2.7bn Total Value Contained Material Value $7.5bn Total Value Contained Material Value
14. 2050 Net
Zero
Cobalt
Reduction
Solid State
Batteries
Process Designed To Benefit From Battery Market Evolution
Capable of processing any cathode chemistry
Unique ability to profitably recycle lithium iron phosphate
Ability to process solid state batteries
Higher total recovery value
End products used in new battery tech
Environmentally friendly recycling approach
Non-pyro / thermal processes without harmful emissions
Water recirculated in a closed loop, zero impact air
emissions, minimal solid waste
14
“Future Proofed” Technology Sets Li-Cycle Apart from Competitors
15. 15
Headquartered in Toronto, Li-Cycle was founded in 2016
2 commercial Spokes and a Hub in late stage development
Significant battery supply chain experience; deep strategic
relationships with critical counterparties
80 person team with international experience and industry
knowledge
Global Cleantech 100 winner (2020, 2021)
Ajay Kochhar
Co-Founder,
President & CEO,
Executive Director
Tim Johnston
Co-Founder,
Executive Chairman
Bruce MacInnis
CFO
Chris Biederman
CTO
RECOGNITIONS:
Kunal Phalpher
CCO
Company Overview
Li-Cycle Management Team is Experienced and Public Company Ready
Extensive Battery, Metals and Engineering Background
16. Top-Tier Leadership
Alan Levande
Chairman, CEO
Scott Prochazka
Director
Preston Powell
Director
Markus Specks
CFO and SVP of
Corporate Development
Jonathan Silver
Director
June Yearwood
Director
Tomas Ackerman
Carnelian Co-Founder
Obama Administration
Team Brings Track Record of Shareholder Value Creation
Strong Strategic Partnership with Peridot
Peridot Acquisition Corp. Overview
Peridot’s Due Diligence on Li-Cycle
Significant experience in natural resources, electric power, clean energy and energy technology
Sponsored by an affiliate of Carnelian Energy Capital Management, L.P. (“Carnelian”), a
leading investment firm focused on opportunities in the North American energy space
Full support of the entire Carnelian investment and back office team
Li-Cycle transaction is consistent with Peridot’s initial investor pitch
In depth reviews of business plan, Li-Cycle’s partnerships and global growth plans
Thorough review and analysis of company’s financial projections
Detailed study of Spoke-and-Hub technologies
Conducted customer due diligence calls and virtual plant visits
Performed extensive legal, environmental, regulatory and accounting due diligence
16
18. Patented Apparatus / System
18
Spokes Use Scalable, Standard Equipment
Plastics: Plastics
to fuel or reuse
Copper / Aluminum
foils: Copper and
precious metals
recovery
Black mass: Interim
sales to nickel
recovery; input to
the Hub; easily
transportable
relative to batteries
Patented
Composition
Lithium-Ion Batteries – all chemistries,
form factors in a single stream, at
their state of charge (SoC) as-is
Neutralizing
Solution
Shredder
Screen
Screen
Shredded Plastics
Cu/Al Foils
Black Mass
Filter
LiPF6, electrolyte solvent, binder
Hygiene
Ventilation
19. 19
Hubs Use All Proven Equipment
Reaction Tank / Agitator
Filter Press
Solvent Extraction
Mixer / Settler
Crystallization
Sodium
Sulphate
Lithium
Carbonate
Nickel
Sulphate
Cobalt
Sulphate
Manganese
Carbonate
Copper
Sulfide
Graphite Gypsum
Black Mass
Patented Process; 12 Formalized Trade Secrets
20. 20
Specialty Grade Battery Products with Contracted Off-Take
Nickel Sulphate
Lithium Carbonate Cobalt Sulphate
Li-Cycle Hub End Products – Key Differentiators
Li-Cycle reproduces battery grade and high purity materials
Li-Cycle end products are “future proofed” – providing the building blocks of batteries that are not at risk of
technological obsolescence (unlike the production of active battery materials, e.g., cathode)
Hub Converts Black Mass Into Materials for Re-Entry Directly Into the Supply Chain
21. 21
North America
5-Year Rollout Plan
APAC & China
Europe
3 Spokes
1 Hub
6 Spokes
11 Spokes
3 Hubs
Regional Spokes reduce safety risk and cost associated with battery transport
Closer to supply centers while developing supplier relationships and
cementing first mover advantage
Centralized Hubs maximize economies of scale and efficiencies
Hub has capacity to process feedstock from a network of Spokes globally
• Boots on the ground: Li-Cycle in advanced discussions with
multiple partners in each geography for supply and off-take
Regional Presence and Global Footprint
22. Canada
$1 billion towards clean technology
investment, including recycling
Source: NAATBaat, Miit.gov, EU Union, CA Legislature, Ontario.ca
European Union
$3.5 billion towards the EU lithium-ion battery
supply chain, including recycling
USA: Federal
Biden’s administration will make a $2 trillion
investment in infrastructure and the clean
energy economy
China
Has required recovery rates
greater than 80% since 2018
European Union
Proposed update to the EU Battery Directive
under discussion during 2021 with more
aggressive recycling targets
USA: California
Requires recovery as close to 100%
as possible starting in 2022
CA: Ontario
Requires recovery rates
of 70%+ by 2023
USA: California
$1.5 billion to develop the EV / battery
supply chain in California
22
Li-Cycle’s high recovery rates and sustainable, environmentally friendly process are major competitive advantages
Government Mandates Accelerating Recycling Growth
Heightened Battery Regulation Infrastructure Spending
23. The NYS investment
complements “Finger Lakes
Forward” – the region’s
comprehensive strategy to
revitalize communities and
grow the economy
23
Rochester Hub Has Received Significant State and Local Support
“This international partnership with Li-Cycle will foster the supply chain of lithium-ion
batteries, which are in high demand, and will further expand the thriving energy storage
industry in the region. By investing in New York's cleantech economy we are creating quality
jobs and supporting our state's clean energy businesses as we build back stronger from the
COVID crisis and continue to move the Finger Lakes forward.”
— Andrew Cuomo, New York Governor
September 14, 2020
Li-Cycle will further grow
its U.S. operations at
Eastman Business Park,
committing to creating
over 100 new jobs
24. 24
Utilizes standard equipment
Readily scalable
Pre-existing customer
relationships
100% Li-Cycle owned
18 total patents and patent
applications across all applicable
jurisdictions that tie back to 3
core patent families
12 trade secret categories
Seasoned management team
No wastewater or pyro (thermal)
aspects
Cheaper than mining
First choice recycler
Sticky supply contracts
Contracted off-take
Li-Cycle’s process is inherently sustainable and optimal from a recovery / efficiency standpoint, protected
by a multi-layered IP strategy, thereby securing Li-Cycle’s long-term leadership position
Truly Sustainable Recycling, Localized Source of Critical Materials
Recovery for All Forms of Lithium-Ion Batteries
Commercial and
Intangibles
Patent
Protection
Proven
Technology
26. Today 2025
2
Operating Spokes
20 Total
Operating Spokes
4 Total
Operating Hubs
Total Capacity
(tonnes LIB equivalent / year)
10,000 t/y 60,000 t/y
100,000 t/y
240,000 t/y
1 Hub in Late
Stage Development
26
Approach to Growth
1. Regional partnerships (e.g.,
Joint Ventures): progressed
stage opportunities
corresponding to 10 additional
Spokes and 2 incremental
Hubs by 2025 (as part of the
global plan)
2. Organic: sourcing batteries
through new / expanded
commercial agreements
3. Inorganic: buy-side M&A
1
2
3
Largest Lithium-Ion Battery Recycler in NAM
28. Revenue
($US in millions)
28
EBITDA
($US in millions)
Li-Cycle Financial Projections
2021E 2022E 2023E 2024E 2025E
2021E 2022E 2023E 2024E 2025E
Cumulative EBITDA, 2021E-2025E = $985mm
Cumulative CAPEX, 2021E-2025E = $947mm
Cumulative Cash Flow (EBITDA – CAPEX), 2021E-2025E = $38mm
Includes consideration of significant CAPEX spend in 2025 but not the associated EBITDA that will come in the years to follow
Peak capital need of $459mm from 2021E-2023E
The net proceeds from this transaction enable the complete funding of Li-Cycle’s business plan
Commentary
30. Fully committed, upsized $315 million PIPE
PIPE investors include Neuberger Berman Funds, Franklin Templeton and
Mubadala Capital. Also includes Peridot sponsor Carnelian Energy Capital,
existing Li-Cycle investor Moore Strategic Ventures and global marketing
and strategic off-take partner Traxys
Peridot currently has $300 million in cash held in trust account
$1.1 billion pro forma enterprise value with strong balance sheet
10.1x of 2023E EBITDA or 3.2x of 2024E EBITDA
Proceeds raised fully fund required capex to build Li-Cycle’s Spoke-and-Hub
facilities
30
Fully Committed, Upsized $315mm PIPE
Key Transaction Terms Pro Forma Valuation
Pro Forma Sources & Uses
Pro Forma Ownership
Note:
(1) Pro forma ownership assumes no redemptions by SPAC shareholders.
Pro Forma Ownership @ $10.00 / Share Shares (mm) % Ownership ($US in mm)
SPAC Public Shareholders 30 18% $300
Peridot Founder Shares 8 5 75
PIPE Shareholders 32 19 315
Existing Li-Cycle Shareholders 98 59 975
Total Shares 167 100% $1,665
Total Sources ($US in mm)
Peridot Cash in Trust $300
PIPE 315
Peridot Founder Shares 75
Stock Consideration to Exisiting Li-Cycle Shareholders 975
Total Sources $1,665
Total Uses
Cash to Balance Sheet $566
Stock Consideration to Exisiting Li-Cycle Shareholders 975
Estimated Fees & Expenses 44
Peridot Founder Shares 75
Repayment of Business Development Bank of Canada Debt 5
Total Uses $1,665
(1)
Pro Forma Valuation ($US in mm)
Share Price $10.00
Pro Forma Shares Outstanding 167
Equity Value $1,665
Plus: Debt 0
Less: Cash (566)
Enterprise Value $1,099
2023E EBITDA $109
EV / 2023E EBITDA 10.1x
2024E EBITDA $339
EV / 2024E EBITDA 3.2x
31. Electrification Facilitators Disruptive Battery EVs Battery Manufacturers
Waste Management
& Recycling Providers
Lithium Producers
Considerations
▲ Benefit from the continued
growing electrification trend
▲ Do not rely on the winning
EV OEM
▼ Different end markets
▼ Specialized niches
▲ Similar growth profiles
▲ Positioned to benefit from
increase in EV demand
▼ Different end markets
▼ Different business models
▲ Similar end users /
customers
▲ Aligned with projected
increase in battery market
demand
▲ Use of similar input
materials
▼ Difference in margins
▼ Medium to low growth
companies
▲ Similar business model of
reducing / recycling waste
materials
▲ Positioned to benefit from
sustainability initiatives
▲ Large target markets
▼ Different end markets
▼ Established late stage
companies
▲ Similar end products
▲ Proliferation of EV market to
drive battery recycling
market
▲ ESG friendly
▼ Different inputs, Li-Cycle
uses recycled materials
▼ Higher production cost
structure
Illustrative
Companies
31
What is the Comp Universe For Li-Cycle?
32. 48%
15% 16% 14%
23%
29%
293%
105%
128%
18% 7% 17%
Source: Company filings, Equity research reports and FactSet. Market data as of January 27, 2021.
(1) Nio margin shown on a 2023E basis due to availability of projections.
(2) LG Chem revenue CAGR calculated on a 2020E – 2022E basis.
(3) Casella, GFL Environmental, SteriCycle and Waste Connections revenue CAGR calculated on a 2021E-2023E basis. GEM Co revenue CAGR calculated on a 2020E – 2022E basis.
(4) Ganfeng revenue CAGR calculated on a 2020E – 2022E basis.
32
Market Leading Growth and Margin Profile…
CY 2021E – 2024E Revenue CAGR
EBITDA Margin
Lithium
Producers
Electrification
Facilitators
Lithium
Producers
Disruptive
Battery EVs
(1)
Battery
Manufacturers
Waste Management &
Recycling Providers
Electrification
Facilitators
2024E 2024E 2024E 2022E 2022E 2022E
Disruptive
Battery EVs
Battery
Manufacturers
(2)
Waste Management &
Recycling Providers
(3) (4)
33. 10.1x
22.3x
12.1x
21.4x
16.1x
35.9x
3.2x
10.9x
6.0x
18.6x
15.0x
23.7x
Source: Company filings, Equity research reports and FactSet. Market data as of January 27, 2021.
Note: Negative EBITDA multiples are excluded from the median.
(1) Multiples for Nio only available in 2023E.
33
Median: 21.4x
Median: 15.0x
…At Attractive Valuation Levels
Lithium
Producers
Disruptive
Battery EVs
(1)
Battery
Manufacturers
Electrification
Facilitators
Lithium
Producers
Disruptive
Battery EVs
(1)
Battery
Manufacturers
Electrification
Facilitators
Firm Value / EBITDA
Firm Value / EBITDA
2023E 2023E 2023E 2021E 2021E 2021E
2024E 2024E 2024E 2022E 2022E 2022E
Waste Management &
Recycling Providers
Waste Management &
Recycling Providers
34. Source: Company filings and presentations, FactSet. Market data as of January 27, 2021.
(1) The applied range of EBITDA multiples based on median of comp universe. The Li-Cycle future firm value is calculated by applying the range of EBITDA multiples to Li-Cycle’s 2024E EBITDA.
(2) The implied discounted firm value is calculated using the future firm value and discounting it back three periods at a 20% discount rate to arrive at the implied discounted firm value range.
Future Discounted
$7.4bn
$6.8bn
$4.3bn
$3.9bn
Post Money Enterprise
Value
Implied Discounted Firm Value (2)
(Discounted 3 Periods @20.0%)
20.0x – 22.0x
FV / 2024E EBITDA (1)
$1.1bn
~73% discount to midpoint
($US in billions)
34
Discounted Future Value – ADJ. EBITDA
36. Leadership Team Board of Directors
Ajay Kochhar
Co-Founder, President & CEO,
Executive Director
Tim Johnston
Co-Founder,
Executive Chairman
Rick Findlay
Non-Executive Director
36
Ajay Kochhar
Co-Founder, President & CEO,
Executive Director
Tim Johnston
Co-Founder,
Executive Chairman
Kunal Phalpher
CCO
Bruce Maclnnis
CFO
Advisory Board
Public Company-Ready Leadership Team and Board
Mark Wellings
Non-Executive Director
Anthony Tse
Non-Executive Director
Alan Levande
Non-Executive Director
Scott Prochazka
Non-Executive Director
Dr. Yuan Gao
Technical Advisor
Ahmad Ghahreman
Technical Advisor
Adonis Pouroulis
Senior Strategic Advisor
Chris Biederman
CTO
37. ($US in mm) 2021E 2022E 2023E 2024E 2025E
Revenue $12 $75 $264 $700 $958
Growth (%) 1,175.4% 550.8% 251.6% 165.3% 36.9%
OPEX $15 $63 $138 $345 $403
% of Revenue 130.0% 84.5% 52.3% 49.4% 42.1%
EBITDA ($6) $3 $109 $339 $541
Margin (%) (53.8%) 3.6% 41.3% 48.4% 56.5%
Growth (%) NM NM 3,989.9% 210.6% 59.8%
CAPEX $137 $246 $181 $10 $372
Cumulative CAPEX $137 $384 $565 $574 $947
Cash Flow (EBITDA - CAPEX) ($144) ($244) ($72) $329 $169
Cumulative Cash Flow (EBITDA - CAPEX) ($144) ($387) ($459) ($130) $38
37
Summary Financial Table
Cash outflow of $459mm fully funded through 2023E(1)
Source:
(1) Expected net proceeds from transaction will fully fund Li-Cycle’s business plan.
Reflects increased capex
spend in 2025E but not the
incremental EBITDA that
will come in the years that
follow, post-expansion
Accounts for future
expansion post 2025
38. 39,880
44,549
49,004
61,255
67,116
37,330
41,264
43,940
46,109
46,109
81,869
35,635
37,400
30,000
40,000
50,000
60,000
70,000
80,000
90,000
2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E
9,950 9,800
10,226
11,998
13,003
7,349
8,252
9,896
10,478 10,478
17,000
10,500
10,100
5,000
7,000
9,000
11,000
13,000
15,000
17,000
19,000
2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E
14,571
18,214
20,946 20,946 20,946
19,198
18,912
18,488
18,291
18,291
13,500
13,970
14,571
10,000
12,000
14,000
16,000
18,000
20,000
22,000
2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E
38
Li-Cycle to Benefit from Commodity Pricing Tailwinds
Li-Cycle stands to benefit from the increase in prices of Li, Ni and Co, through production of battery grade materials
The growing electrification demand is driving much of the increase of prices
Commodity prices are also dependent on battery composition as manufacturers may alter their choice of inputs to increase battery range and are not
necessarily indicative of battery grade pricing
Li-Cycle management uses more conservative pricing assumptions relative to Benchmark Mineral Intelligence estimates
Benchmark Mineral Intelligence is a leading market intelligence firm and data provider in the lithium-ion battery supply chain that has materially higher
pricing forecasts
Commentary
Nickel
($ / tonne)
Lithium Carbonate Cobalt
Historicals(1) Broker Projections (2) Benchmark Mineral Intelligence Projections (3)
Source: Company Projections, Broker Estimates, Benchmark Mineral Intelligence, Q4 2020.
Note: All values in real terms.
(1) Sourced from Benchmark Mineral Intelligence, Q4, 2020.
(2) Broker Projections as of December 28, 2020. Nickel broker median includes BAML, Barclays, BMO, CIBC, Citi, Credit Suisse, Deutsche Bank, HSBC, JP Morgan, Morgan Stanley, RBC and TD Securities. Lithium Carbonate broker median includes
Credit Suisse, Citi, Morgan Stanley and UBS. Cobalt broker median includes BAML, Barclays, BMO, CIBC, Citi, Credit Suisse, Deutsche Bank, Morgan Stanley and RBC.
(3) Benchmark Mineral Intelligence, Q4 2020.
($ / tonne) ($ / tonne)
Management Uses Conservative Forecasts Compared to Leading Market Intelligence Firms
39. 39
($US) 2020A 2019A
Revenue
Product Sales $653,242 --
Recycling Services 250,426 $49,338
Total Revenue $903,668 $49,338
Cost Of Goods Sold 665,779 5,926
Gross Profit $237,889 $43,412
0 0
Expenses
Professional Fees $3,117,441 $560,019
Personnel 2,977,909 622,689
Research & Development 812,353 2,163,315
Office and Administrative 517,040 427,276
Marketing and Business Development 384,401 67,450
Plant Operations 891,336 --
Travel & Entertainment 168,712 141,318
Depreciation 511,695 186,942
Share-based Compensation 323,615 99,638
Total Expenses $9,704,502 $4,268,647
Operating Loss ($9,466,613) ($4,225,236)
Other Income
Interest Expense $333,501 --
Interest Income (36,532) 24,137
Foreign Exchange Gain (316,497) --
Total Other Income ($19,528) $24,137
Net Loss ($9,447,085) ($4,201,098)
Loss per Common Share - Basic and Diluted ($5.04) ($2.43)
Note: Based on financial statements prepared using IFRS. Converted to USD from CAD, based on average exchange rates for 2020 and 2019, respectively. Exchange rate sourced from FactSet.
(1) Based on preliminary FY20 P&L figures and subject to final audit approval.
Detailed P&L
(1)