Mr. Marty Rendall reports

ELECTRA CONFIRMS PRIVATE PLACEMENT IS FULLY SUBSCRIBED

Electra Battery Materials Corp.'s non-brokered private placement, on the terms described in the press release dated March 24, 2025, is now fully subscribed and allocated.

"The strong investor interest in the offering reflects continued confidence in our strategy," said Electra chief financial officer Marty Rendall. "This capital will provide us with the flexibility to continue advancing our work supporting a North American critical-minerals supply chain."

The net proceeds raised from the offering will be used to advance the company's refinery project site in Temiskaming Shores, Ont., and for general corporate purposes. The completion of the offering remains subject to regulatory approvals and the completion of customary closing documentation.

About Electra Battery Materials Corp.

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 sulphate 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 sulphate 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 Becancour, Que., and exploring nickel sulphate production potential in North America.

We seek Safe Harbor.