Electra Battery Materials Corporation (NASDAQ:ELBM, TSXV:ELBM) ("Electra" or the "Company") is pleased to announce that it has executed a binding investment agreement (the "Investment") with the Government of Canada under the Strategic Response Fund ("SRF"), turning previous support for the project into a firm commitment.

The Investment provides for total federal funding of $20 million toward eligible project costs, to support the completion of construction and commissioning of North America's only battery-grade cobalt sulfate refinery, located in Temiskaming Shores, Ontario. The execution of the Agreement marks a significant milestone in advancing Electra's refinery project and follows extensive due diligence and discussions with the federal government since the initial announcement of support in 2025.