Electra Battery Materials Corporation

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 sulfate 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. For more information, please visit www.ElectraBMC.com.

Management Profile:
Heather Smiles is Vice President, External Affairs and Corporate Development at Electra Battery Materials. With more than 15 years of experience advancing policy, governance, strategic partnerships and capital markets across the mining sector, Heather leads the Company's engagement with governments, industry stakeholders and capital markets while supporting corporate development initiatives that advance Electra's long-term growth strategy and strengthen its position within the North American critical minerals sector. Throughout her career, Heather has held senior stakeholder engagement and corporate affairs roles with leading mining and critical minerals companies, including Electra (formerly First Cobalt), Baffinland Iron Mines, Golden Star Resources and North American Palladium. She has extensive experience building strategic partnerships, advancing government and stakeholder relations, supporting financing and corporate development activities, and leading communications that align business objectives with public policy, capital markets and long-term strategic growth. Heather holds an Honours Bachelor of Science from the University of Toronto and is a Certified Professional in Investor Relations (CPIR).

What are your key goals for the next 3 months?:
Execute the major construction packages for our Ontario cobalt sulfate refinery safely, on schedule and within budget; advance process-equipment installation and systems integration; and begin early commissioning of select utilities and circuits. We will also continue operational-readiness planning and advance feedstock, logistics and customer discussions.

What are your key goals for the next 6 months?:
Progress the refinery toward mechanical completion, which is planned for Q2 2027, by advancing mechanical, electrical, piping and instrumentation work; expand commissioning and workforce-readiness activities; and finalize the feedstock, logistics, commercial and working-capital arrangements required for production. In parallel, we will continue advancing strategic opportunities in battery recycling, nickel refining and domestic feedstock development.

What are your key goals for the next 12 months?:
Achieve mechanical completion of the refinery and begin production ramp-up, including the commissioning and qualification of battery-grade cobalt sulfate. Our objective is to transition successfully from construction to operations and establish Electra as a reliable North American supplier of refined critical minerals.

What do you think makes your company such a compelling investment?:
Electra offers investors a compelling combination of near-term execution and long-term growth potential. Construction is actively underway on North America’s first battery-grade cobalt sulfate refinery, a fully permitted project that is funded through mechanical completion and remains on track to reach that milestone in Q2 2027. The refinery is supported by the U.S. Department of War and Canadian federal and provincial governments and has secured feedstock and offtake partners in Glencore and LG Energy Solutions. Beyond the refinery, Electra provides exposure to additional growth opportunities, including potential capacity expansion, battery recycling, nickel refining and the company’s cobalt-copper assets in Idaho.

What are your corporate activities?:
Electra is building a North American critical-minerals platform focused on refining, processing and recycling materials for lithium-ion batteries, energy storage, defence and industrial applications. Our primary activity is constructing and commissioning our Ontario cobalt sulfate refinery. We are also advancing black mass recycling, evaluating nickel sulfate refining opportunities and developing cobalt-copper assets in Idaho as potential future sources of domestic feedstock.