Mr. Trent Mell reports

ELECTRA ANNOUNCES CFO TRANSITION

Electra Battery Materials Corp. chief financial officer Marty Rendall has informed the company of his intention to resign from his position at the end of February to pursue an executive opportunity with a larger organization. Mr. Rendall will remain with Electra through February to support a smooth transition.

The company has commenced a formal search for a permanent successor and is pleased to announce that David Allen, who previously served as Electra's CFO from 2023 to late 2024, will return as interim chief financial officer effective Feb. 28, 2026.

"Marty has made tremendous contributions during his tenure with Electra, and while we are very sad to see him go, we are proud to see his expertise recognized by another industry leader," said Trent Mell, chief executive officer. "Through his efforts, we strengthened our balance sheet, completed critical capital raises and meaningfully advanced the execution of our refinery construction strategy. Marty leaves Electra in a stronger financial and operational position as we enter a pivotal year of construction and delivery."

"It has been a privilege to be part of Electra's mission to build a secure, domestic supply chain for North American battery materials," said Mr. Rendall. "I'm grateful for the opportunity to have worked with such a dedicated and forward-looking team, and I leave confident in Electra's strategy, its leadership and its potential to create long-term value for all stakeholders."

Mr. Allen's return as interim CFO will ensure continuity and leadership stability as the company continues construction of North America's first cobalt sulfate refinery.

About Electra Battery Materials Corp.

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 sulphate 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.

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