David Talbot

- Electra Battery Materials Corporation's previously announced private placement financing is **fully subscribed**, with investor orders totaling **US$30 million**.  **[1907184_0001171843-25-006089_exh_991.htm:0]** 
- The financing received strong participation from both **existing shareholders and new institutional investors**.  **[1907184_0001171843-25-006089_exh_991.htm:0]** 
- The Offering is expected to close on or about **October 17, 2025**, concurrently with the company's financial restructuring.  **[1907184_0001171843-25-006089_exh_991.htm:0]** 
- Closing is subject to shareholder approval at a special meeting scheduled for **October 15, 2025**, and customary regulatory approvals.  **[1907184_0001171843-25-006089_exh_991.htm:0]** 
- The funds will strengthen Electra's capital structure and secure funding to advance the commissioning of North America's first battery-grade cobalt sulfate refinery.  **[1907184_0001171843-25-006089_exh_991.htm:0]**

Electra Battery Materials Corporation's US$30 Million Financing Fully Subscribed

- Electra Battery Materials Corporation will hold a special meeting on **October 15, 2025**, to vote on **Restructuring Transactions** and a **Reverse Split of Common Shares**.  **[1907184_0001171843-25-005972_exh_991.htm:0]** 
- The Restructuring Transactions involve an **Equity Exchange** and **Debt Exchange** for existing notes, alongside an **Offering** to raise a minimum of **US$30,000,000** at **US$0.75 per Unit**, with Noteholders committing to **US$10,000,000**.  **[1907184_0001171843-25-005972_exh_991.htm:22]** **[1907184_0001171843-25-005972_exh_991.htm:23]** **[1907184_0001171843-25-005972_exh_991.htm:29]** 
- Failure to approve the Restructuring Transactions could lead to the company halting operations or initiating insolvency proceedings.  **[1907184_0001171843-25-005972_exh_991.htm:26]** **[1907184_0001171843-25-005972_exh_991.htm:28]** 
- The proposed Reverse Split, at a ratio of **1-for-3.5**, aims to help the company maintain Nasdaq listing compliance, as its closing share price was **US$0.99** on September 16, 2025.  **[1907184_0001171843-25-005972_exh_991.htm:35]** 
- Following the Restructuring Transactions, **Whitebox** is expected to become a control person, beneficially owning approximately **32.69%** of the issued and outstanding Common Shares.  **[1907184_0001171843-25-005972_exh_991.htm:32]**

Electra Battery Materials Corp to Hold Special Meeting for Restructuring and Reverse Stock Split

- Electra Battery Materials Corporation announced amendments to its recapitalization and restructuring initiative, agreeing to convert approximately **US$41.3 million** of outstanding secured convertible notes, plus accrued interest, into approximately **55 million units** at a deemed exchange price of **US$0.75** per unit.  **[1907184_0001171843-25-005956_exh_991.htm:0]** 
- This conversion accounts for **60%** of the Company's convertible debt, reducing total debt under the Notes to approximately **US$27.5 million**.  **[1907184_0001171843-25-005956_exh_991.htm:0]**  The remaining **40%** of the Notes will be exchanged for a **new three-year term loan**.  **[1907184_0001171843-25-005956_exh_991.htm:0]** 
- As part of the new loan agreement, the Company will also issue a one-time bonus of **3,822,341 common shares** to the Lenders at a deemed issue price of **US$0.90** per share.  **[1907184_0001171843-25-005956_exh_991.htm:0]** 
- The revised exchange price of **US$0.75 per Unit** was adopted to comply with TSX Venture Exchange requirements, as a waiver for a lower price was not granted.  **[1907184_0001171843-25-005956_exh_991.htm:0]** 
- Completion of the Restructuring is contingent on definitive documentation, shareholder approval, and regulatory approvals, with the Transaction Effective Date required to occur prior to **October 21, 2025**.  **[1907184_0001171843-25-005956_exh_991.htm:0]** **[1907184_0001171843-25-005956_exh_992.htm:7]**

Electra Battery Materials Amends Debt Restructuring Terms

- Electra Battery Materials Corporation (ELBM) has announced amendments to its recapitalization and restructuring initiative, aiming to strengthen its balance sheet and facilitate the completion of North America's first battery-grade cobalt sulfate refinery.  **[1907184_0001171843-25-005935_exh_991.htm:0]** 
- Approximately **US$41.3 million** of outstanding secured convertible notes, plus accrued interest, will be converted into approximately **55 million units** of the Company at a deemed exchange price of **US$0.75** per unit.  **[1907184_0001171843-25-005935_exh_991.htm:0]**  This conversion will reduce the total debt under the Notes to approximately **US$27.5 million**.  **[1907184_0001171843-25-005935_exh_991.htm:0]** 
- The remaining **40%** of the Notes, plus interest, will be exchanged into a new **three-year term loan**.  **[1907184_0001171843-25-005935_exh_991.htm:0]**  Additionally, the Company will issue a one-time bonus of **3,822,341 common shares** to the lenders at a deemed issue price of **US$0.90 per Common Share**.  **[1907184_0001171843-25-005935_exh_991.htm:0]** 
- Each unit issued as part of the restructuring consists of one Common Share and one common share purchase warrant, with each warrant entitling the holder to purchase an additional Common Share at **US$1.25** per share for a period of 36 months.  **[1907184_0001171843-25-005935_exh_991.htm:0]**

Electra Battery Materials Amends Restructuring Terms to Advance Cobalt Refinery Completion

- Electra Battery Materials Corporation has signed a term sheet for **C$17.5 million** in proposed funding from Invest Ontario, which is part of an estimated **C$100 million** investment to complete its cobalt sulfate refinery in Temiskaming Shores.  **[1907184_0001171843-25-005881_exh_991.htm:0]** 
- The company is undertaking a financial restructuring that aims for a **~60% reduction in convertible debt** and includes a **US$30 million equity raise** through a brokered private placement.  **[1907184_0001171843-25-005881_exh_991.htm:0]** **[1907184_0001171843-25-005881_exh_992.htm:0]** 
- Once operational, the refinery is expected to be North America's first facility dedicated to producing battery-grade cobalt sulfate, with an annual capacity of **6,500 tonnes**, sufficient for up to **1 million electric vehicles**.  **[1907184_0001171843-25-005881_exh_991.htm:0]** **[1907184_0001171843-25-005881_exh_993.htm:4]** 
- Total available funds following the offering are estimated at approximately **US$61.4 million**, with **US$55 million** allocated to refinery construction.  **[1907184_0001171843-25-005881_exh_993.htm:8]** **[1907184_0001171843-25-005881_exh_993.htm:9]**

Electra Battery Materials Secures Funding and Advances Cobalt Refinery Project

- Electra Battery Materials Corporation entered into a transaction support agreement on **August 21, 2025**, to launch a debt-to-equity conversion, aiming to reduce its convertible debt outstanding by **60%** as part of a comprehensive financial restructuring.  **[1907184_0001171843-25-005569_exh_995.htm:0]** **[1907184_0001171843-25-005569_exh_995.htm:1]** 
- The company intends to launch a **US$30 million** Equity Financing, which includes a **US$10 million** conditional commitment from its Lenders.  **[1907184_0001171843-25-005569_exh_995.htm:0]** **[1907184_0001171843-25-005569_exh_995.htm:1]** **[1907184_0001171843-25-005569_exh_995.htm:2]** 
- Approximately **US$40 million** of outstanding convertible notes, plus accrued interest, will be converted into equity at a price of **US$0.60 per Common Share**, reducing the total debt under these notes to approximately **US$27 million**.  **[1907184_0001171843-25-005569_exh_995.htm:1]** 
- To support operations during the restructuring, Lenders provided **US$2 million** in short-term bridge debt in the form of 90-day Bridge Notes on **August 22, 2025**.  **[1907184_0001171843-25-005569_exh_995.htm:1]** **[1907184_0001171843-25-005569_exh_994.htm:1]** **[1907184_0001171843-25-005569_exh_995.htm:2]** 
- **David Stetson** was appointed to Electra's Board of Directors on **August 22, 2025**, as the Lenders' nominee, with the Board size expected to increase from five to seven members following the completion of the Transaction.  **[1907184_0001171843-25-005569_exh_995.htm:0]** **[1907184_0001171843-25-005569_exh_994.htm:0]** **[1907184_0001171843-25-005569_exh_995.htm:1]** **[1907184_0001171843-25-005569_exh_993.htm:5]**

Electra Battery Materials (ELBM)