Electra Battery Materials (ELBM) Registration Filing summary

Company overview and business model

• Engaged in battery materials refining, focusing on both primary mining and recycling of battery scrap and end-of-life batteries, with assets primarily in North America.

• Owns a hydrometallurgical refinery in Ontario and mineral properties in the Idaho Cobalt Belt, including the Iron Creek Project.

• Strategy centers on building a North American supply chain for battery materials, with phased expansion plans for the refinery and integration of recycling operations.

• Recent milestones include feedstock agreements, offtake contracts, and government funding commitments for refinery construction.

Financial performance and metrics

• Reported negative cash flow from operating activities of $17,012,000 for the year ended December 31, 2024.

• Will require additional financing in 2025 to complete refinery construction, advance recycling, and maintain liquidity covenants.

• As of June 25, 2025, had 17,962,173 common shares outstanding and a public float valued at approximately US $19,995,660.

Use of proceeds and capital allocation

• Net proceeds from securities offerings will be used to complete construction of the Ontario refinery, for working capital, and general corporate purposes.

• Management retains broad discretion over allocation of proceeds, with potential for reallocation based on business needs.