Ms. Heather Smiles reports

ELECTRA RECEIVES EXTENSION FROM NASDAQ TO RESOLVE MINIMUM PRICE REQUIREMENT

Electra Battery Materials Corp. has received notice from the Nasdaq Stock Market LLC that the company is eligible for an additional 180-calendar-day period, or until March 15, 2027, to regain compliance with Nasdaq's $1 minimum bid price requirement for continued listing on Nasdaq.

The extension has no immediate effect on the listing or trading of the company's common shares on Nasdaq, and the company's operations are not affected by the receipt of the extension.

Nasdaq's determination is based on the company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on Nasdaq other than the minimum bid price requirement, together with the company's written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

If, at any time before March 15, 2027, the closing bid price of the shares is at or above $1 (U.S.) per share for a minimum of 10 consecutive business days, the company will be eligible to regain compliance with the minimum bid requirement, subject to Nasdaq's discretion to require a longer compliance period. The extension does not have any impact on the listing of the shares on the TSX Venture Exchange.

About Electra Battery Materials Corp.

Electra is a leader in advancing North America's critical mineral 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 mineral 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.

We seek Safe Harbor.