David Talbot

- 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)