Ajay Kochhar

Chief Executive Officer at LICY

Board

Since August 10, 2021

Age

32 years

Education

Holds a Bachelor of Applied Science (BASc) in Chemical Engineering from the University of Toronto.

Tenure

Joined the company on March 4, 2017 and later became Co-Founder, President, and Chief Executive Officer on August 10, 2021.

Also at LICY

Carl DeLuca

General Counsel and Corporate Secretary

Chris Biederman

Chief Technology Officer

Christine Barwell

Chief Human Resources Officer

About

Ajay Kochhar is the Co-Founder, President, and Chief Executive Officer of Li-Cycle Holdings Corp, a company at the forefront of sustainable battery recycling.

He graduated from the University of Toronto with a Bachelor of Applied Science (BASc) in Chemical Engineering, establishing a strong academic foundation for his later professional endeavors.

Prior to assuming his current leadership role on August 10, 2021, he joined Li-Cycle on March 4, 2017 and built a robust career through progressive roles in technology and project development at Hatch’s industrial cleantech and advisory practices.

$LICY Performance Under Ajay Kochhar

Past Roles

Organization	Role	Date Range	Details
Hatch	Various Roles	N/A	Progressive roles in industrial cleantech and advisory practices, which provided extensive technology and project development experience

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$592,329	Annual (2023)	Base salary for 2023.
Stock Awards	$843,750	Annual (2023 grants)	Stock awards granted for 2023.
Option Awards	$843,750	Annual (2023 grants)	Option awards granted for 2023.
Non-Equity Incentive Plan Compensation	$0	N/A	No payments under the 2023 STIP due to the company’s financial position.
All Other Compensation	$43,430	Annual (2023)	Includes executive medical expenses, employer retirement contributions, EV allowance, and on-site parking.

Performance Compensation

Data from FY 2023

STIP

Performance Pillar	Weight (%)	Metric	Goal	Threshold	Target	Maximum
Customers	40%	Spoke Availability	Gain preferred partner status	65% (50% payout)	75% (100% payout)	80% (150% payout)
Employees	20%	TRIFR (Health and Safety)	Achieve zero harm	<3.0	<2.7	<2.4
Communities	15%	Days of interruption	No interruptions due to complaints	<9 days	≤5 days	0 days
Shareholders	25%	Cash Management (Total SG&A)	Deliver strong shareholder returns	>110% of Budget	On Budget	<95% of Budget

Evaluation Period: Transition period from November 1, 2022 to December 31, 2022 and fiscal year 2023.

Vesting Schedule: Not applicable as the STIP is a cash incentive plan.

Actual Results/Payouts: No payments were made under the STIP for 2023 due to financial considerations.

LTIP

Component	Detail	Value
Target Level	Target equity award value	250% of base salary
Mix	Composition of awards	50% options, 50% RSUs
Grant Date	Award grant date	January 27, 2023
Grant Date Fair Value	Combined fair value of awards	$1,687,500
Grant Date Stock Price	Exercise/Base price for options	$5.77 per share
Vesting Schedule	Vesting details	Vesting ratably over 3 years, subject to continued employment with potential acceleration
Number of Awards	Awards granted	146,230 RSUs, 253,028 options

Additional Note: No specific performance metrics or targets beyond the above details were provided for LTIP awards.