Mr. Klaus Schmitz of Rock Tech reports

ROCK TECH AND ELECTRA SIGN LITHIUM RECYCLING MOU FOR NORTH AMERICAN MARKET

Rock Tech Lithium Inc. has signed a memorandum of understanding with Electra Battery Materials Corp. for the development of a partnership to supply recycled lithium from Electra's Ontario battery recycling operations for upgrading to battery-grade lithium chemicals in Rock Tech's lithium refineries. The companies will leverage their processing expertise to develop a comprehensive, fully sustainable closed-loop service offering for the recycling of lithium-ion battery manufacturing scrap, end-of-life batteries and black mass.

"Partnering with Rock Tech, a leading lithium development company with assets in Europe and North America, complements our recycling strategy by allowing us to further upgrade recycled lithium into a battery grade product," said Trent Mell, Electra's chief executive officer. "Collaboration is crucial to create a closed loop for all critical minerals we recover in our black mass refining operation. Jointly with Rock Tech, we are excited to offer an end-to-end battery recycling solution specifically for the lithium market. The partnership is expected to generate an additional revenue stream for Electra, improve our service offering for our clients, and facilitate future growth."

"At Rock Tech, we are thinking long term," emphasized Klaus Schmitz, Rock Tech's chief operating officer. "Developing localized circular lithium value chains is key for this. Electra is an important partner to realize this vision in Ontario and North America. Our collaboration unlocks an important lithium sourcing option and ensures continuous long-term supply for our plants. Our collaboration ensures that lithium recovered from the recycling of end-of-life batteries or battery manufacturing scrap is recovered, refined and returned to the battery value chain as battery-grade lithium product. An efficient, environmentally friendly and truly closed recycling loop."

Under the agreement, Electra will supply a portion of the lithium recovered from its black mass refinery north of Toronto to Rock Tech for further processing. Rock Tech will upgrade the lithium to battery-grade lithium chemicals at its planned lithium converters. This upgrading step is essential to achieve the quality and purity required to qualify the final lithium product for reuse in the manufacturing process of new batteries.

Processing of material is expected to start in 2026. Supply is expected to increase over time, as Electra continues to expand its battery materials park in a modular fashion. The companies also intend to explore additional collaboration opportunities including possible licensing of Electra's technology for application in Europe and the co-location of future battery recycling and lithium refining plants.

Rock Tech is an emerging producer of lithium chemicals through its planned lithium conversion facility in Germany as well as a second proposed lithium converter to be developed in Ontario, Canada. The company is developing a refining platform for both, primary spodumene concentrate and recycled lithium from battery and black mass recycling operations.

Electra is currently constructing North America's only cobalt sulphate refinery in Temiskaming Shores, Ont., as part of a multipronged effort to co-locate cobalt, nickel, manganese and black mass refining within the refining complex. Electra is currently testing its proprietary hydrometallurgical process to recycle black mass on a plant scale setting, recovering nickel-cobalt MHP, lithium carbonate, graphite and other commercial products.

In May, 2023, Electra announced its intention to form a joint venture with the Three Fires Group to source and process lithium-ion battery waste generated by manufacturers of current and future battery cells, electric vehicles, and energy storage systems. Battery waste would be processed at a facility to be located in Southern Ontario to produce black mass feed material for Electra's refinery to recover lithium, nickel, cobalt, copper, manganese and graphite.

About Rock Tech Lithium Inc.

Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The company plans to build lithium converters at the doorstep of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the company's proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The company has adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly owned Georgia Lake spodumene project located in the Thunder Bay mining district of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.

About Electra Battery Materials Corp.

Electra is a processor of low-carbon, ethically sourced battery materials. Currently commissioning North America's only cobalt sulphate refinery, Electra is executing a multipronged strategy focused on onshoring the electric vehicle supply chain. Keys to its strategy are integrating black mass recycling and nickel sulphate production at Electra's refinery located north of Toronto, advancing Iron Creek, its cobalt-copper exploration-stage project in the Idaho cobalt belt, and expanding cobalt sulphate processing into Becancour, Que.

We seek Safe Harbor.