Mr. Trent Mell reports

ELECTRA AWARDS STRUCTURAL, MECHANICAL & PIPING CONTRACT

Electra Battery Materials Corp. has awarded a structural, mechanical and piping (SMP) construction package valued at approximately $12.4-million to Ontario-based Kilmarnock Enterprises as part of the continuing construction activities at Electra's cobalt sulphate refinery complex north of Toronto.

Kilmarnock Enterprises is an Ontario-based industrial contractor with extensive experience in structural, mechanical, and piping construction across complex industrial and infrastructure projects. The North American refinery will support the development of a domestic supply chain for electric vehicle batteries and critical minerals.

With the Kilmarnock package, Electra has now awarded approximately $46-million in refinery-related construction packages. The SMP package supports refinery retrofit, installation and commissioning readiness activities across multiple process areas and includes concrete and civil work, structural steel installation, process equipment installation, piping fabrication and installation, and commissioning support activities. Electra has issued a limited notice to proceed to authorize early execution activities while the parties finalize a definitive construction agreement.

"With most of the major construction packages now awarded, we are in the final stages of contracting for the remaining scopes required to complete the refinery," said Trent Mell, chief executive officer. "Our strategy of executing the project through multiple construction packages aligned to major process areas has allowed Electra to take a more active role in managing construction sequencing, contractor performance, project integration and cost control. As activity ramps up across the refinery site, we are beginning to realize the benefits of this approach through improved coordination and execution across the project. The project remains in line with the budget and schedule announced in February, with safety embedded in every action, reflecting the dedication of the team we have assembled on this project."

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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