Electra Battery Materials (ELBM) Q3 2026 earnings summary

Executive summary

• Construction advanced across process areas; early commissioning of select utilities and circuits is targeted for Q4 2026, with commercial production targeted for H2 2027.

• Commissioning and initial ramp-up feedstock is secured through 2027; ~60% of planned cobalt sulfate production is committed to LG Energy Solution.

Financial highlights

• Available liquidity was C$82.8m at Sept. 30, 2026: C$23.5m cash and C$59.3m in government non-dilutive contributions, drawn as eligible costs are incurred.

• C$46m of construction contracts were committed against an approximately C$100m (US$73m) budget; project was tracking to budget.

Outlook and guidance

• Early commissioning of select utilities and circuits is targeted for Q4 2026; commercial production is targeted for H2 2027.

• Proposed WMC Group AG working capital and commercial partnership remains subject to due diligence, definitive agreements, and customary approvals.