ELBM

TORONTO, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") reported on its capital markets activity for the previous quarter, including activity under its at-the-market equity program ("ATM") and equity participation by employees and directors. The Company's equity participation programs support alignment between employees, directors and shareholders through market-based equity ownership. Under the Company's Employee Share Purchase Program ("ESP"), a total of 37,341 common shares ("Common Shares") were purchased by employees during the third quarter, with a corresponding 37,341 Common Shares acquired by the Company in accordance with the program. Employee participation included meaningful purchases by Company management. Approved by shareholders at the Company's annual general meeting on June 23, 2026, the ESP enables employees to acquire Common Shares. Purchases were made at the five-day volume-weighted average price as of September 30, 2026. On September 30, 2026, Electra also granted 112,676 deferred share units ("DSUs") to its non-employee directors under the Company's Deferred Share Unit Plan. The grants further align the interests of the Board of Directors with those of shareholders. The DSUs were granted based on the market price as of September 30, 2026, and will be settled in Common Shares when a director ceases to serve on the Board, subject to the terms of the plan. The ATM program, initiated in late 2025, provides the Company with flexibility to issue and sell, from time to time, up to US$25 million of its Common Shares from treasury at the Company's discretion, pursuant to an agreement with H.C. Wainwright & Co., LLC. During the quarter ended September 30, 2026, the Company generated gross proceeds of approximately US$92,000 through the issuance of 150,003 Common Shares under the ATM on the Nasdaq Stock Market LLC at a weighted average price of US$0.6152 per Common Share. The most recent transaction under the ATM was on August 28, 2026. Since inception, the Company's average issuance price under the ATM is US$0.87 per Common Share. Commissions of approximately US$7,000 were paid in connection with these distributions during the quarter. About Electra Battery Materials Electra is a leader in advancing North America's critical minerals supply chain for lithium-ion batteries. The Company's primary focus is constructing North America's only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho's Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, External Affairs & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced the appointment of Peter Rawlins as Chief Financial Officer (CFO), effective August 26, 2026. Peter brings over two decades of mining finance, capital markets and strategic advisory experience. He spent 19 years at CIBC, most recently as Managing Director, Global Mining & Forest Products in Capital Markets, where he advised mining clients on a broad range of financing, transaction and growth initiatives, including project and acquisition financings, corporate finance solutions and streaming transactions. Peter is a seasoned banking executive covering mining clients who also has leadership experience on the corporate side, working with two junior mining companies. He is recognized for developing strong client relationships across the mining and banking communities and for helping companies evaluate financing alternatives, strengthen financial strategy and support disciplined growth. Following CIBC, Peter subsequently served as Vice President and Treasurer at Artemis Gold helping the company secure the project financing for the Blackwater project. Most recently, he was Senior Vice President and CFO of Premium Nickel leading several successful equity financings to help maintain the drill program and recapitalization. His experience includes financial leadership at dual-listed companies, including U.S. GAAP reporting. He holds degrees from Western University, the University of Windsor and Rochester Institute of Technology. Peter succeeds David Allen, who returned from retirement in February to serve as Interim Chief Financial Officer, having previously served as the Company’s CFO from 2023 to late 2024. Mr. Allen will continue with Electra on a part-time basis through completion of construction, working alongside the project team to support on-time, on-budget delivery of the Ontario critical minerals refinery and to mentor the Company’s finance group. “Electra is a very different company today,” said Trent Mell, Chief Executive Officer. “We recapitalized the balance sheet, secured the funding required for the Refinery construction and restarted full-scale execution. Our immediate priority remains disciplined delivery of the refinery. At the same time, our opportunities in battery recycling and nickel processing are gaining traction, and we intend to be positioned to advance our next project as the refinery moves into production. “Peter’s combination of project finance, capital markets and public-company experience is particularly well suited to that next phase. He brings the financial leadership and network needed both to support delivery of the cobalt refinery and to help advance and finance our broader project critical minerals pipeline. I also want to thank David Allen, who returned at an important moment and will remain with us to help see the project through.” “What attracted me to Electra is the vision, dedication and tenacity of the leadership team,” said Mr. Rawlins. “Electra has advanced a strategically important critical-minerals project to a stage that few development companies reach. Its cobalt sulfate refinery has the potential to become an important part of North America’s battery and defense supply chains and a platform for further growth initiatives. “I look forward to working with the team to complete the refinery as our first priority. In addition, other important priorities are strengthening the finance function by taking a disciplined approach to the balance sheet, working capital and liquidity management, project finance and capital markets, and helping transform Electra’s government and industry relationships into long-term value for shareholders. These priorities will help position the Company for the next phase of growth.” Funding and Project Status In October 2025, Electra completed a comprehensive recapitalization, closing a US$34.5 million equity financing and converting approximately US$40 million of its senior secured convertible notes into equity. Together with US$20 million from the U.S. Department of War and US$28 million in combined support from the Government of Canada and Invest Ontario, the Company arranged approximately US$82 million in aggregate funding for the construction of North America’s first cobalt sulfate refinery. Construction remains on schedule and on budget. Early commissioning activities are expected to begin in the fourth quarter of 2026, with mechanical completion targeted for the second quarter of 2027 and commercial production anticipated in the fourth quarter of 2027. Company Files Second Quarter 2026 Financial Results Today the Company also announced the filing of its financial results for the three and six months ended June 30, 2026. During the quarter, Electra continued to advance its Ontario cobalt sulfate refinery, strengthened its funding position through a definitive C$20 million agreement with the Government of Canada and maintained financial flexibility through its capital markets initiatives. The Company also advanced its longer-term critical minerals strategy, launching an engineering study for a potential nickel refinery in the southeastern United States. Q2 2026 Highlights: Electra awarded additional construction contracts across key process areas, bringing the total value of refinery construction packages to approximately C$46 million. Completed definitive documentation for C$20 million investment agreement with the Government of Canada under the Strategic Response Fund. The Company reported cash and cash equivalents of C$36 million as at June 30, 2026, including approximately US$2.1 million in gross proceeds generated through its at-the-market equity program. Refinery construction is further supported by approximately C$65 million (US$48 million) in aggregate reimbursable government funding. “Our focus remains on disciplined execution - advancing the refinery on schedule and within budget while maintaining the financial flexibility needed to deliver the project,” said David Allen, Interim CFO. “The progress made during the quarter and our strongly supported funding position reinforce that objective.” The Company’s Q2 2026 financial reports are available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.ElectraBMC.com). About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. ContactHeather SmilesVice President, External Affairs & Corporate Development Electra Battery [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking StatementsThis news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, including statements regarding the approved construction budget and its sufficiency; project milestones such as contract awards, site mobilization, commissioning, mechanical completion, commercial production and ramp-up; targeted throughput and production volumes; additional capital required for commissioning and working capital; engineering studies and incremental investments; availability of equipment, reagents, feedstock and other inputs; commercial arrangements; and the availability and timing of governmental or other financial support. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” or similar expressions and are based on current assumptions and expectations. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, at www.sedarplus.com and on EDGAR at www.sec.gov. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TORONTO, July 06, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today provided a quarterly update on some of its capital markets programs, including its at‑the‑market equity program (“ATM”) and equity participation by employees and directors. Under the Company’s equity participation programs, employees and directors continue to align with shareholders through market‑based equity ownership. Under the Company’s Employee Share Purchase Program (“ESP”), a total of 26,256 common shares (“Common Shares”) were purchased by employees during the second quarter, with a corresponding 26,256 Common Shares acquired by the Company in accordance with the program. Employee participation included meaningful purchases by Company management. The ESP, as approved by shareholders at the Company’s annual general meeting held June 23, 2026, enables employees to acquire Common Shares. ESP purchases were made at the five-day volume adjusted weighted average as of June 30. Also on June 30, 2026, the Company granted 91,954 deferred share units (“DSUs”) to its non‑employee directors pursuant to its Deferred Share Unit Plan. The DSUs are intended to further align the interests of the Board of Directors with those of shareholders. Consistent with this alignment, DSUs are granted based on the market price as at June 30 and will be settled in Common Shares upon a director ceasing to serve on the Board, in accordance with the terms of the plan. The ATM program, launched in late 2025, provides the Company with flexibility to issue and sell, from time to time, up to US$25 million of its Common Shares from treasury at the Company’s discretion, pursuant to an agreement with H.C. Wainwright & Co., LLC. During the quarter ended June 30, 2026, the Company generated gross proceeds of approximately US$2.1 million through the issuance of 3,009,295 Common Shares under the ATM on the Nasdaq Stock Market LLC at a weighted average price of US$0.68 per Common Share. The most recent transaction under the ATM was on June 2, 2026. Since inception, the Company’s average issuance price under the ATM is US$0.88 per Common Share. Commissions of approximately US$70,000 were paid in connection with these distributions during the quarter. About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. Contact Heather SmilesVice President, External Affairs & Corporate Development Electra Battery [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO, June 23, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces voting results from its 2026 annual general and special meeting of shareholders held today, June 23, 2026, in Toronto. A total of 48,202,558 common shares in the capital of the Company (“Common Shares”), representing 46.47% of Electra’s issued and outstanding Common Shares, were represented in person or by proxy at the meeting. Shareholders voted in favour of all items of business put forth at the meeting, including the appointment of MNP LLP as external auditors. Each of the seven director nominees listed in the management information circular was elected to serve until the next annual meeting of shareholders or until their successors are duly elected or appointed, as set out below: At the meeting, shareholders also approved the 2022 amended and restated LTIP (the “2022 Amended and Restated LTIP”). The 2022 Amended and Restated LTIP was last approved by shareholders on June 24, 2025 and the LTIP resolution does not amend the 2022 Amended and Restated LTIP, other than increasing the number of awards issuable thereunder. As approved, the maximum number of Common Shares issuable pursuant to: (i) Options shall not exceed 8,725,000 Common Shares; (ii) Restricted Share Units shall not exceed 440,000 Common Shares; (iii) Performance Share Units shall not exceed 440,000 Common Shares; and (iv) Deferred Share Units shall not exceed 1,385,784 Common Shares. Shareholders also approved the Employee Share Purchase Plan for the Company (the “ESP Plan”). The ESP Plan was last approved by shareholders on December 20, 2024 and the ESP Plan resolution does not amend the ESP Plan other than to increase the maximum number of Common Shares reserved for issuance thereunder from 250,000 to 400,000. The 2022 Amended and Restated LTIP and ESP Plan were conditionally approved by the TSX Venture Exchange (the “TSXV”) on May 4, 2026 and remain subject to final acceptance of the TSXV. The business of the meeting also included approval of a ratification of the grant of (i) 1,600,000 Options, (ii) 190,459 Deferred Share Units and (iii) 174,000 Restricted Share Units in excess of the limits prescribed in the 2022 Amended and Restated LTIP and approval of a special resolution authorizing a potential reverse split of the Company’s issued and outstanding Common Shares (the “Reverse Split”) at a ratio of one (1) post-reverse split Common Share for between two (2) and six (6) pre-reverse split Common Shares, as determined by the board of directors of the Company (the “Board”) in its sole discretion. The Reverse Split resolution authorizes, but does not require, the Board to complete a reverse split of the Company’s issued and outstanding Common Shares. Even though shareholder approval has been obtained, the Board may elect not to proceed with the Reverse Split. If implemented, the Company will announce the effective date and final ratio by news release. The Company’s full voting results at the meeting are available on SEDAR+ at www.sedarplus.com. About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. Contact Heather SmilesVice President, External Affairs & Corporate Development Electra Battery [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, including statements in this release relating to the Reverse Split, whether it will be effected and pursuant to what ratio. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” or similar expressions and are based on current assumptions and expectations. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, at www.sedarplus.com and on EDGAR at www.sec.gov. Whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including, but not limited to, that the Company may determine not to effect a Reverse Split, and the risk of potential adverse market perception or volatility associated with any such actions. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TORONTO, March 27, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today reported 2025 financial results, highlighting a successful recapitalization and restart of construction of its cobalt sulfate refinery. Highlights Board approved US$73 million construction budget to complete the refinery Strengthened balance sheet, through recapitalization, including significant debt conversion to equity Reactivated full-scale construction in November following recapitalization Completed early works and advanced major construction tendering to support disciplined execution Initiated domestic feedstock testing to build a pipeline for North American supply Completed feasibility-level engineering study for a modular battery recycling facility Strengthened Board with deep expertise in capital markets, defense, and critical minerals During 2025, Electra completed the financing, site preparation, and organizational steps required to resume full construction of its cobalt sulfate refinery in Ontario, positioning the project for completion through 2026 and into 2027. In parallel, the Company strengthened its balance sheet, advanced its battery recycling initiatives, and expanded its leadership team and strategic partnerships to support the development of a resilient North American battery materials supply chain. “Electra is advancing the refinery through a multi-package execution strategy, engaging specialized contractors across discrete scopes rather than relying on a single general contractor,” said Trent Mell, CEO. “This approach reflects strong interest from high-quality partners and provides greater control over schedule, cost, and execution, positioning the Company to deliver the project in a disciplined manner. Supported by a strengthened owner’s team under Paolo Toscano’s leadership, we are well positioned to execute on our construction plan.” Refinery Project Highlights and Developments In 2025, Electra advanced construction readiness of its permitted cobalt sulfate refinery in Temiskaming Shores, Ontario, the only facility of its kind under development in North America. Subsequent to year-end the Company’s Board of Directors approved a US$73 million construction budget and execution schedule to complete construction through to mechanical completion. Early commissioning activities are expected to begin in the fourth quarter of 2026, with mechanical completion targeted for the second quarter of 2027 and commercial production anticipated in the fourth quarter of 2027. Electra arranged US$82 million in aggregate funding to support refinery construction, including US$20 million from the U.S. Department of War, US$28 million in combined support from the Government of Canada and Invest Ontario, and a US$34 million in equity financing in October 2025. In June of 2025, the Company initiated an early works program to advance key infrastructure in the refinery’s solvent extraction area and other site activities. The program was completed in September and positioned the project for an efficient restart of full construction. In November, Electra reactivated construction at the refinery. The Company also issued a major tender package encompassing structural, mechanical, piping, electrical and instrumentation work. Paolo Toscano was appointed as Vice President, Projects and Engineering to oversee construction execution. Strengthening Feedstock and Supply Chain Partnerships Once operational, the refinery will produce battery-grade cobalt sulfate for the lithium-ion battery supply chain, supporting the development of a resilient North American supply of critical minerals. To diversify future refinery feedstock sources to include a variety of domestic mine feed, the Company initiated metallurgical testing of cobalt feedstock in its laboratory in July, testing material from its Iron Creek cobalt-copper project in Idaho and the historic Cobalt Camp in Ontario and from. In parallel, Electra advanced exploration and mineral deposit modelling work at Iron Creek to support a long-term domestic feedstock pipeline. To support development of a domestic battery materials ecosystem, Electra also signed a supply chain cooperation agreement with Positive Materials Inc., a Canadian precursor cathode active material (pCAM) manufacturer. The agreement establishes a framework to evaluate a potential commercial and technical partnership involving battery-grade cobalt sulfate produced at Electra’s refinery. Black Mass Recycling Highlights During a year-long plant-scale recycling program of black mass material in 2023, believed to be the first in North America, Electra successfully recovered critical metals, including lithium, nickel, cobalt, copper, manganese, and graphite, needed for the lithium-ion battery supply chain using Electra’s proprietary hydrometallurgical process. Electra continued to build momentum around its battery recycling strategy in 2025, leveraging its hydrometallurgical refining expertise. In January, the Company announced the commencement of a feasibility level engineering study to build a battery recycling refinery adjacent to its cobalt refinery in Ontario. The study built on the technology and expertise accumulated during the black mass recycling trial, and a 2023 scoping study Electra completed to evaluate the potential economics of developing a standalone black mass process plant within its refinery complex. In June, Electra announced completion of a feasibility-level (Class 3) engineering study for a modular battery recycling facility adjacent to its cobalt refinery in Ontario. The study builds prior recycling trials and outlines a facility design capable of processing lithium-ion battery manufacturing scrap and end-of-life batteries to recover critical minerals. Ongoing work on the recycling initiative is supported in part by a C$5 million contribution from Natural Resources Canada announced in June 2024 to support the development of its proprietary battery materials recycling technology, accelerating the next phase of its recycling project to demonstrate on a continuous basis that the Company’s hydrometallurgical black mass process is scalable, profitable, and can be implemented at other locations. Other Corporate Highlights During the year, Electra completed a comprehensive recapitalization that strengthened its balance sheet, including the conversion of approximately US$40 million of convertible debt into equity, reducing outstanding debt under the notes by roughly 60%. The Company also established an At-The-Market (ATM) equity program to provide a flexible capital-raising tool to support ongoing development and commissioning activities. The Company strengthened its Board of Directors in 2025 with the appointments of Alden Greenhouse, David Stetson, Gerard Hueber, and Jody Thomas, bringing deep experience across capital markets, government and defense, national security, and global supply chains. Mr. Greenhouse is currently the Vice-President, Critical & Strategic Minerals for Agnico Eagle Mines Limited and brings extensive capital markets and corporate governance experience. His background strengthens the Board’s financial oversight and strategic capabilities as Electra advances its refinery and recycling initiatives. Mr. Stetson, who joined the Board as a lender nominee in connection with the Company’s recapitalization, has significant experience in credit markets and corporate finance, with a focus on capital solutions. His expertise provides valuable perspective on balance sheet management and financing strategies as the Company executes its development plans. Rear Admiral (Ret.) Gerard Hueber brings decades of leadership experience from the United States Navy, where he served in senior operational and intelligence roles. As a former Raytheon executive, his background in defense, security, and global strategic risk provides valuable insight as critical minerals and battery supply chains increasingly intersect national security priorities. Ms. Jody Thomas, former National Security and Intelligence Advisor to the Prime Minister of Canada and Deputy Minister of National Defence, adds significant expertise in national security policy, international affairs, and critical infrastructure. Her experience advising the Canadian government on geopolitical and supply chain issues further strengthens Electra’s governance as the Company advances a secure North American battery materials supply chain. Subsequent to year-end, the Company announced that David Allen, who previously served as Electra’s Chief Financial Officer, would return as Interim CFO following the resignation of Marty Rendall at the end of February 2026 to pursue another executive opportunity. On December 31, 2025, the Company’s cash position was C$39 million. As of the date of this news release, the Company’s cash balance is approximately C$41 million, reflecting proceeds received from financing activities and expenditures related to ongoing construction and development activities at the Company’s cobalt sulfate refinery. With financing secured and construction reactivated, Electra remains focused on advancing construction and commissioning activities at its cobalt sulfate refinery while continuing to develop battery recycling and feedstock initiatives. The Company’s 2025 financial reports are available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.ElectraBMC.com). Pursuant to the Company’s Long-Term Incentive Plan (the “LTIP”) approved by shareholders at the annual general meeting on June 24, 2025, Electra has issued 110,000 incentive stock options (the “Options”) and 164,000 deferred share units (“DSUs”) to certain directors, officers, employees, and contractors. These long-term incentive awards are a key element of Electra’s compensation strategy and are designed to retain and motivate high-performing personnel while aligning their interests with those of shareholders. The DSUs will be settled in shares when the holder ceases to serve as a director. The Options are exercisable for three years at previous day closing price of C$0.79 and will vest in two equal tranches on the first and second anniversaries of the grant date. Completion of the incentive grants remains subject to the approval of the TSX Venture Exchange. About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, including statements regarding the approved construction budget and its sufficiency; project milestones such as contract awards, site mobilization, commissioning, mechanical completion, commercial production and ramp-up; targeted throughput and production volumes; additional capital required for commissioning and working capital; engineering studies and incremental investments; availability of equipment, reagents, feedstock and other inputs; commercial arrangements; and the availability and timing of governmental or other financial support. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” or similar expressions and are based on current assumptions and expectations. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, at www.sedarplus.com and on EDGAR at www.sec.gov. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Strengthened financial position and de-risked path forward to build North America’s first cobalt sulfate refinery TORONTO, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces the filing of its financial results for the third quarter ended September 30, 2025, including key activities supporting the Company’s focus on delivering its cobalt sulfate refinery in Temiskaming Shores, Ontario. Progress during the quarter reflects Electra’s renewed momentum in establishing a North American battery materials supply chain. Alongside the Company’s significant financial accomplishments, recent strategic activities include feedstock testing from Ontario and Idaho, underpinning the long-term importance of domestic mineral assets and reinforcing Electra’s role in reducing North America’s reliance on foreign sources of critical battery materials. Highlights: US$13 (C$17.5) Million Commitment from Ontario: On September 12, Electra signed a term sheet with the Ontario government to advance its cobalt refinery. The investment complements previously announced government backing, including a US$20 million award from the U.S. Department of Defense and a US$15 million (C$20 million) commitment from the Government of Canada, for aggregate US$48 million of government support. US$34.5 Million Financing Completed: In August 2025, the Company launched a US$34.5 million financing coinciding with a balance sheet restructuring, reducing the Company’s debt to approximately US$28 million and which is intended to provide the remaining financing for the refinery construction. Both transactions closed in October, subsequent to the quarter end. The oversubscribed private placement demonstrated market support for Electra’s long-term strategy and positioned the Company to resume construction and commissioning activities. Bench Strength Added to Board: The Company also augmented its Board of Directors during the quarter with the additions of David Stetson, a seasoned executive with over 20 years of experience in the energy and mining sectors; Gerard Hueber, a retired U.S. Navy Rear Admiral and former Raytheon executive; and Jody Thomas, Canada’s former National Security and Intelligence Advisor to the Prime Minister. Their appointments bring valuable expertise in operations, policy, and finance, and support strong governance and oversight as Electra transitions into execution. North American Feedstock Testing: In July, Electra commenced metallurgical testing of North American cobalt feedstock from two sources, its Iron Creek project in Idaho and legacy operations in the historic Cobalt Camp in Ontario. This program aims to validate the suitability of regional material for future refinery processing and further align Electra’s operations with its strategy of onshoring critical minerals supply. Post-period Highlights: Advancement of U.S. Cobalt-Copper Assets: In October, the Company announced progress at its Iron Creek cobalt-copper project in Idaho, including continued geological modeling and evaluation to support future opportunities. These efforts strengthen Electra’s long-term vision of onshoring the North American supply chain. Appointment of VP, Projects & Engineering: On October 29, The Company announced the appointment of Paolo Toscano as Vice President, Projects and Engineering to lead the construction and commissioning of North America’s first cobalt sulfate refinery in Temiskaming Shores, Ontario, reinforcing Electra’s commitment to disciplined execution. Construction Reactivated at Refinery Project: With a US$82 million funding package arranged, Electra reactivated construction at its Ontario cobalt refinery in November 2025, building on its summer early works program completed in September. “Our progress through the third quarter and beyond reflects the dedication of our team and a firm commitment to delivering on what we set out to do,” said Marty Rendall, CFO. “We have taken disciplined steps to strengthen our financial foundation, secured critical support to de-risk our project, and aligned our efforts around construction readiness. As we move forward, we remain focused on delivering North America’s first cobalt sulfate refinery and creating long-term value.” As of September 30, 2025, the Company had a cash balance of C$3 million. Following quarter-end, on October 22, 2025, Electra closed a US$34.5 million equity financing and completed its previously announced balance sheet restructuring. With this financing, along with US$48 million in combined government support, Electra believes it is funded to complete construction and commissioning of its cobalt sulfate refinery in Ontario. The Company’s third quarter 2025 financial reports are available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.ElectraBMC.com). About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production. Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements, including those concerning the completion of funding from the Government of Canada and Invest Ontario. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could cause actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TORONTO, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces the results of its special meeting of shareholders held today, October 15, 2025, in Toronto (the “Meeting”). Shareholders voted in favour of all matters presented at the meeting, including the election of all seven nominees to Electra’s Board of Directors. Newly elected directors include Jody Thomas, former National Security and Intelligence Advisor to the Prime Minister of Canada, and Gerard Hueber, Rear Admiral (Retired), U.S. Navy. Their elections follow the earlier appointment of David Stetson, former CEO of Alpha Metallurgical Resources. Following the meeting, Mr. Stetson was appointed Chair of the Board, succeeding John Pollesel, who was appointed Lead Director. “On behalf of the management team, I would like to welcome David as Chair” said Trent Mell, CEO of Electra. “The additions of Jody, Gerry, and David bring a unique combination of national security insight, industrial leadership, and restructuring experience to Electra’s Board. Their expertise will help guide the next phase of Electra’s strategy and our ongoing transformation into a leading North American supplier of critical battery materials.” Each of the seven director nominees listed in the management circular were elected to serve until the next annual meeting of shareholders or until their replacement is named, as set out below: Additional business items approved at the Meeting were: (i) approval of a series of previously announced restructuring transactions involving the Company and certain holders of outstanding convertible notes (the “Restructuring Transactions”); (ii) approval of the creation of a “Control Person” or “Control Persons” of the Company, as such term is defined in Policy 1.1 – Interpretation of the TSX Venture Exchange, in connection with the Restructuring Transactions; and (iii) authorization of an amendment to the articles of the Company to complete a reverse stock split (the “Reverse Split”) of the issued and outstanding common shares (the “Common Shares”) of the Company at a ratio of one (1) post-Reverse Split Common Share for up to three-and-a-half (3.5) pre-Reverse Split Common Shares, as determined by the Board of Directors of the Company in its sole discretion. A total of 2,123,906 common shares in the capital of the Company (“Common Shares”), or 12% of Electra’s issued and outstanding Common Shares were represented in person or by proxy at the Meeting. The Company’s full voting results at the Meeting are available on SEDAR+ at www.sedarplus.com. About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company is developing North America’s only cobalt sulfate refinery in Ontario as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. Electra’s strategy also includes battery recycling and the advancement of its cobalt-copper project in Idaho, Iron Creek, one of the only primary cobalt deposits in the United States. Growth initiatives include integrating black mass recycling at its Ontario refining complex and evaluating opportunities for additional nickel sulfate production in North America. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “will,” “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “will,” “might”, “occur” or “be achieved”. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Other factors that could lead actual results to differ materially include failure to obtain required approvals or satisfy closing conditions, changes in government policy or funding commitments, delays in construction or commissioning of the refinery, inability to complete the Offering or the Restructuring on the proposed terms and general economic, market, and geopolitical conditions. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TORONTO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced the filing of its financial results for the second quarter ended June 30, 2025. During the second quarter of 2025, Electra launched early works activities to prepare for resumption of construction of its cobalt refinery and began metallurgical testing of domestic cobalt feedstock from the Cobalt Camp in Ontario and the Iron Creek project in Idaho. The Company also completed a feasibility level Class 3 Engineering Study for a new battery recycling facility to be built on the same site as the cobalt refinery, forming part of an integrated metallurgical complex in Ontario. These steps demonstrate disciplined advancement focused on reinforcing Electra’s position as a cornerstone of North American battery materials production. Activities from the Quarter: Early Works Initiated at Cobalt Refinery: In June, Electra launched site-level activities to support the restart of construction at North America’s only cobalt sulfate refinery focused on advancing high-priority activities in the solvent extraction (SX) area including installation of equipment and completion of structural work. North American Feedstock Testing Launched: On July 31st, Electra commenced metallurgical testing of North American cobalt feedstock from two sources, its Iron Creek project in Idaho and legacy operations in the historic Cobalt Camp in Ontario. The initiative supports the Company’s goal of diversifying its future feedstock supply with ethical, domestic sources. Battery Recycling Refinery Engineering Study Completed: Electra completed a feasibility level Class 3 Engineering Study in early June for a new battery recycling refinery to be located adjacent to its existing cobalt refinery in Temiskaming Shores, Ontario. The study builds on Electra’s successful 2023 black mass demonstration and supports its strategy to enable a closed-loop North American battery materials solution. Aki Joint Venture with Three Fires Group Advanced: Electra and its Indigenous partner, Three Fires Group, made progress on the Aki Battery Recycling joint venture, poised to become Canada’s first Indigenous-led lithium-ion battery recycling initiative. Key developments include shortlisting of technology partners, potential site evaluations, and government engagement. “The second quarter demonstrated Electra’s continued financial discipline and focus on enhancing flexibility as we work to align our capital structure with the Company’s long-term strategic goals of advancing the critical infrastructure that will help reshape the North American battery materials landscape,” said Electra CFO, Marty Rendall. The Company’s cash position at the end of the quarter was C$3 million. Subsequent to June 30, 2025, Electra received a temporary waiver from the holders of the Company’s senior secured debt to reduce the reportable minimum liquidity balance to US$1 million. In connection with the waiver, the Company has commenced discussions with the debtholders and other prospective investors regarding a range of potential consensual transactions, including the potential equitization of a portion of the outstanding debt, with a view to strengthening liquidity. Discussions are preliminary in nature and there can be no certainty they will result in a transaction or on what terms any transaction may occur. “With the global spotlight now squarely on securing domestic supply chains, governments across North America are backing efforts to reduce reliance on foreign sources of critical minerals, and Electra is preparing to answer that call,” said CEO, Trent Mell. “Our permitted cobalt refinery is a brownfield asset with a proven flowsheet, strategic partnerships, and most of the critical equipment already delivered to site. While we continue to work collaboratively with stakeholders to strengthen our capital structure, our primary focus remains on bringing this facility into production. We are also taking measured steps to advance our battery recycling platform and broaden our feedstock pipeline. Together, these efforts reinforce Electra’s leadership in building a secure, circular, and low-carbon battery materials supply chain.” The Company’s second quarter 2025 financial reports are available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.ElectraBMC.com). About Electra Battery Materials Electra is a processor of low-carbon, ethically sourced battery materials. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is executing a phased strategy to onshore the battery materials supply chain and provide a North American solution for battery materials refining. In addition to building North America’s only cobalt sulfate refinery, its strategy includes integrating black mass recycling, potential cobalt sulfate processing in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could cause actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

TORONTO, June 24, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced voting results of its 2025 annual general and special meeting of shareholders held today, June 24, 2025, in Toronto. A total of 5,222,899 common shares in the capital of the Company (“Common Shares”), or 29% of Electra’s issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of all items of business put forth at the meeting, including the appointment of MNP LLP as external auditors. Each of the five director nominees listed in the management circular were elected to serve until the next annual meeting of shareholders or until their replacement is named, as set out below: 2022 Amended and Restated LTIP The 2022 Amended and Restated LTIP was last approved by Shareholders on August 13, 2024 and the LTIP resolution does not amend the 2022 Amended and Restated LTIP, other than increasing the number of Options, PSUs, RSUs and DSUs from 1,429,961 Options to 2,500,000 Options; from 100,000 PSUs to 125,000 PSUs; and from 175,000 DSUs to 400,000 DSUs, with the number of RSUs remaining the same at 125,000 RSUs, such that the maximum number of Common Shares to be reserved for issuance under the 2022 Amended and Restated LTIP be revised from 1,829,961 Common Shares to 3,150,000 Common Shares. The 2022 Amended and Restated LTIP was conditionally approved by the TSX Venture Exchange (the “TSXV”) and remains subject to final acceptance of the TSXV. The Company’s full voting results at the meeting are available on SEDAR+ at www.sedarplus.com. About Electra Battery Materials Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to establishing the cobalt sulfate refinery, Electra’s strategy includes nickel refining and battery recycling. Growth projects include integrating black mass recycling at its existing refining complex, evaluating opportunities for cobalt production in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit www.ElectraBMC.com. Contact Heather Smiles Vice President, Investor Relations & Corporate Development Electra Battery Materials [email protected] 1.416.900.3891 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced the filing of its first quarter 2025 financial reports. Highlights from the Quarter: Leadership Strengthening – In January, Electra welcomed Marty Rendall as Chief Financial Officer (CFO), followed by the appointment of Alden Greenhouse to the Board of Directors in February, together bringing additional financial and critical minerals strategic bench strength to the Company’s leadership. Government of Canada Support – On March 21, 2025, Electra received a non-binding Letter of Intent (LOI) for up to C$20 million from the Government of Canada to support the construction of its cobalt refinery, reflecting the strategic importance of developing critical minerals processing in North America. Engineering Study Launched for Battery Recycling Refinery – In late January, Electra commenced an engineering study for a battery recycling refinery to be located adjacent to its existing cobalt refinery north of Toronto. Exploration in Idaho – In February, Electra provided an update on its CAS Property in the Idaho Cobalt Belt, U.S.A., highlighting high-grade gold values over significant intervals and reinforcing the strategic importance of this asset within the Company’s North American critical minerals strategy. The presence of high-grade gold mineralization at CAS further supports Electra’s efforts to develop a robust critical minerals portfolio. Strategic Partnership with Nord Precious Metals – In February, Electra signed an MOU with Nord Precious Metals, outlining a framework to process potential future cobalt-bearing silver concentrates at its Ontario refinery. For the foreseeable future, 100% of Electra’s cobalt feed requirements will be met through existing agreements with Glencore and Eurasian Resources Group (ERG), global leaders in the supply of ethical cobalt. Enhanced Financial Flexibility – During March and April, Electra completed a US$3.5 million non-brokered private placement equity offering and separately reached an agreement with the holders of its senior secured debt to defer all interest payments until February 2027. “We continued to make measured progress during the first quarter of 2025,” said Electra CEO, Trent Mell, “reflective of the strength of our commitment to building a North American supply chain for critical minerals to support domestic industrial purposes and the global transition to clean energy. With the support of two governments, a dedicated and experienced leadership team, and a clear focus on sustainability, we continue to build a strong foundation, strengthening our position as a key player in the North American battery supply chain.” Electra’s current priority is recommissioning and expanding its North American cobalt sulfate refinery in Temiskaming Shores, Ontario. The Company’s long-term vision includes additional phases to potentially provide recycled battery materials and battery grade nickel to the North American and global electric vehicle battery market. Approximately US$60 million, as estimated in 2023 and exclusive of inflation or escalation to current pricing, is required to complete the refinery construction, which was paused in 2023. To date, Electra has arranged up to US$54 million in non-dilutive funding, including US$34 million in government support – comprised of a binding contract with the U.S. Department of Defense in 2024 and a non-binding letter of intent (“LOI”) from the Government of Canada in 2025 – and a US$20 million strategic investment proposal announced in 2024. Most of the critical equipment needed for completion of the cobalt sulfate refinery, such as pressure vessels, tanks, and structural steel, has already been delivered to the refinery complex in Ontario. Electra will source cobalt feed from Glencore and Eurasian Resources Group (ERG), two leading suppliers of ethical cobalt, and has a long-term offtake agreement with LG Energy Solution for the majority of its production. These partnerships position Electra to supply the growing North American battery materials market. Battery Materials Recycling Electra operated the refinery facility during a year-long plant-scale recycling program of black mass material in 2023, believed to be the first in North America. The demonstration program successfully recovered critical metals, including lithium, nickel, cobalt, copper, manganese, and graphite, needed for the lithium-ion battery supply chain using Electra’s proprietary hydrometallurgical process. In January 2025, the Company announced the commencement of a feasibility level engineering study to build a battery recycling refinery adjacent to its cobalt refinery in Ontario. The study will build on the technology and expertise accumulated during the black mass recycling trial, and a 2023 scoping study Electra completed to evaluate the potential economics of developing a standalone black mass process plant within its refinery complex. Results are expected in the second quarter. Electra’s battery recycling work was supported in part by a previously disclosed C$5 million grant from Natural Resources Canada. The funding is helping advance the continuous demonstration of Electra’s proprietary hydrometallurgical black mass process, aimed at proving its scalability, profitability, and potential for broader deployment. In 2024, the Company formed Aki Battery Recycling, a joint venture with the Three Fires Group, an Indigenous-owned economic development organization, focused on the sourcing and processing of lithium-ion battery waste from manufacturers to produce black mass at a state-of-the-art facility to be established in southern Ontario. The black mass will then be further treated using Electra’s proprietary process at its Ontario hydrometallurgical refinery. Idaho Cobalt Belt In February 2025, the Company provided an update on its exploration efforts at the CAS cobalt-copper-gold property in the Idaho Cobalt Belt. Data from CAS highlight high-grade gold values over significant intervals and underscore the growing importance of the CAS Property to Electra’s U.S. exploration strategy. Electra holds a significant land position in the Idaho Cobalt Belt, including the Iron Creek deposit, the Ruby project and the CAS Property option. The Idaho properties consist of mining patents and exploration claims over an area of 73 km2 and cover the strike extent of strata hosting the cobalt-copper sulfide mineralization. Late in 2024, Electra secured a 10-year exploration permit for its properties in the Idaho Cobalt Belt, covering 91 designated drill pad locations and hundreds of potential drill targets. The Company’s cash position at the end of the quarter was C$3.2 million. The Company’s first quarter 2025 financial reports are available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.ElectraBMC.com). About Electra Battery Materials Electra is a processor of low-carbon, ethically sourced battery materials. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is executing a phased strategy to onshore the battery materials supply chain and provide a North American solution for battery materials refining. In addition to building North America’s only cobalt sulfate refinery, its strategy includes integrating black mass recycling, potential cobalt sulfate processing in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit www.ElectraBMC.com. Contact Heather SmilesVice President, Investor Relations & Corporate Development Electra Battery [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking StatementsThis news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could cause actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.