Ms. Heather Smiles reports

ELECTRA ANNOUNCES VOTING RESULTS FROM 2025 ANNUAL MEETING OF SHAREHOLDERS

Electra Battery Materials Corp. has released the 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, or 29 per cent 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 the external auditor.

The five director nominees listed in the management circular were elected to serve until the next annual meeting of shareholders or until they are replaced, as set out in the attached table.

2022 amended and restated LTIP (long-term incentive program)

The 2022 amended and restated LTIP was last approved by shareholders on Aug. 13, 2024, and the LTIP resolution does not amend the 2022 amended and restated LTIP, other than increasing the number of options, PSUs (performance share units), RSUs (restricted share units) and DSUs (deferred share units): from 1,429,961 options to 2.5 million 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 3.15 million common shares.

The 2022 amended and restated LTIP was conditionally approved by the TSX Venture Exchange and remains subject to final acceptance of the TSX-V.

The company's full voting results at the meeting are available on SEDAR+.

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.