TORONTO--(BUSINESS WIRE)--Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”, “Company”) is pleased to announce senior management will be participating in the several investment and industry conferences: BMO Global Metals, Mining & Critical Minerals Conference, February 25-28 CEO, Trent Mell, will be available for one-on-one meetings with institutional and industry peers throughout the conference to discuss Electra’s near-term plans. Red Cloud’s Pre-PDAC Showcase – Februar ...

TORONTO--(BUSINESS WIRE)--Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”, “Company”) announced today that in accordance with its Long-Term Incentive Plan approved by shareholders at its October 24, 2023 annual general meeting, the Company has issued 3,150,225 incentive stock options (the “Options”) and 104,938 restricted share units (“RSU”) to certain directors, officers, employees, and contractors of the Company. The Company will also settle (the “Share Settlement”) a total of ...

TORONTO--(BUSINESS WIRE)--Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra”, “Company”) today announced that it has received a $5 million investment from the Government of Canada towards the construction of North America’s first cobalt sulfate refinery. Located in Temiskaming Shores, Ontario, the facility will produce approximately five percent of the global supply of battery grade cobalt needed for electric vehicles. The investment will be provided in the form of a grant from the ...

TORONTO--(BUSINESS WIRE)--Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company) today provided an update on its battery materials recycling trial taking place at the Ontario refinery complex. Recent optimizations have resulted in additional improved recoveries of lithium, nickel, cobalt and other critical minerals, further bolstering the quality of saleable products. At this time, the plant-scale black mass recycling trial is largely complete, and the Company is compi ...

Electra Battery Materials Corporation (NASDAQ:ELBM) Q3 2023 Earnings Conference Call November 17, 2023 10:00 AM ET Company Participants Joe Racanelli - Vice President-Investor Relations Trent Mell - Chief Executive Officer Peter Park - Chief Financial Officer Mark Trevisiol - Vice President, Project Development Conference Call Participants Matthew O'Keefe - Cantor Fitzgerald David Talbot - Red Cloud Securities Operator Thank you for standing by. This is the conference operator. Welcome to the Electra Third ...

Exhibit 99.1 ELECTRA BATTERY MATERIALS CORPORATION (FORMERLY FIRST COBALT CORP.) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022 (UNAUDITED) (EXPRESSED IN THOUSANDS OF CANADIAN DOLLARS) ELECTRA BATTERY MATERIALS CORPORATION CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2023 (UNAUDITED) (expressed in thousands of Canadian dollars) | | | September 30, | | December 31, | | --- | --- | --- | --- | --- | | | ...

Financial Data and Key Metrics Changes - The company raised CAD 21.5 million in gross proceeds from two concurrent private placements, emphasizing strong market support despite economic uncertainty [14][15] - Cash and marketable securities decreased from CAD 12.8 million at the end of Q1 to CAD 7.4 million at the end of Q2, primarily due to capital costs related to the refinery construction and black mass trial [17] - The construction budget for the cobalt sulfate refinery is estimated at CAD 104 million, with a midpoint of CAD 161 million for completion [29] Business Line Data and Key Metrics Changes - The company completed a scoping study indicating compelling project economics for processing 2,500 tonnes of recycled material per year, with an estimated cost of CAD 8.1 million for the black mass operation and a return rate exceeding 120% [19][20] - The black mass trial has shown promising recovery rates, with the first commercial shipment of mixed hydroxide precipitate (MHP) completed [32] Market Data and Key Metrics Changes - The company signed an MOU with Three Fires for battery recycling in Ontario, which is expected to enhance the supply chain for electric vehicle (EV) materials [16][40] - The extension of the supply agreement with LG Energy Solution increased the supply from 7,000 tons to 19,000 tons over five years, indicating strong demand for cobalt sulfate [37] Company Strategy and Development Direction - The company is focusing on strengthening its balance sheet and managing liquidity, with staffing reductions and cost management measures implemented [28][44] - The strategy includes accelerating the black mass recycling initiative while securing capital for the cobalt recycling plant, aiming for a sustainable supply chain for EV materials [20][70] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by supply chain issues and inflation but expressed optimism about the strong support from investors and the potential for future growth [18][44] - The company anticipates a challenging year in 2023 due to economic uncertainties and commodity price volatility, but is taking steps to mitigate these impacts [44] Other Important Information - The company is exploring partnerships and funding solutions to address the capital shortfall for the cobalt sulfate refinery, with a focus on government and commercial partnerships [30][85] - The black mass recycling initiative is expected to ramp up to a processing rate of 2,500 tonnes per annum within 12 months of being fully funded [110] Q&A Session Summary Question: How does Ford's investment in Bécancour impact your plans? - Management noted that the investment is significant and aligns with their strategy to strengthen the North American supply chain for EV materials [105] Question: Can you clarify the CapEx needed for black mass recycling versus cobalt hydroxide? - The average CapEx for the cobalt sulfate plant is CAD 161 million, while CAD 8 million is allocated for black mass recycling, with many expenditures being complementary [53] Question: What is the timeline for ramping up black mass recycling? - The ramp-up to 2,500 tonnes per annum is expected to take about three to four months after commissioning, with a target to start in October of the following year [110] Question: What are the current plans for Iron Creek? - Management indicated that Iron Creek remains a valuable asset, but the focus is on refining operations rather than mining, with potential partnerships being considered [51] Question: How will the Three Fires relationship enhance your business model? - The partnership is expected to strengthen the black mass strategy and provide a more stable supply chain for EV materials [106]

Financial Performance - The company reported a net income of CAD 12,002,000 for the three months ended June 30, 2023, compared to a net income of CAD 7,534,000 for the same period in 2022, reflecting a year-over-year increase of 59.5%[4] - Operating loss for the six months ended June 30, 2023, was CAD 8,327,000, compared to CAD 6,378,000 for the same period in 2022, indicating an increase in losses of 30.6%[4] - As of June 30, 2023, Electra Battery Materials Corporation reported a net loss of CAD 9,976,000 for the period[6] - The company reported a net loss of $9,976 for the six months ended June 30, 2023, compared to a net income of $9,864 in the same period of 2022[72] - The basic loss per share for the six months ended June 30, 2023, was $(0.28), while the diluted loss per share was also $(0.28)[72] Assets and Liabilities - Total assets increased to CAD 198,977,000 as of June 30, 2023, up from CAD 187,524,000 at December 31, 2022, representing a growth of 6.5%[2] - The company’s total liabilities rose to CAD 79,840,000 as of June 30, 2023, compared to CAD 61,015,000 at December 31, 2022, marking an increase of 30.8%[2] - Shareholders' equity decreased to CAD 119,137,000 as of June 30, 2023, down from CAD 126,509,000 at December 31, 2022, a decline of 5.8%[2] - As of June 30, 2023, the accumulated deficit increased to CAD 190,755,000 from CAD 180,779,000 at the end of 2022[6] - The balance of long-term government loans payable was $4,159 as of June 30, 2023, compared to $3,777 on December 31, 2022, representing an increase of approximately 10.1%[44] Cash Flow and Financing - Cash and cash equivalents decreased to CAD 6,228,000 as of June 30, 2023, down from CAD 7,952,000 at December 31, 2022, a decline of 21.7%[2] - The company reported cash flows used in operating activities of CAD 4,997,000 for the six months ended June 30, 2023, compared to CAD 8,803,000 for the same period in 2022, a decrease of 43.5%[5] - The company completed a private placement on August 11, 2023, raising gross proceeds of CAD 21,500,000, consisting of CAD 16,500,000 from a brokered placement and CAD 5,000,000 from a non-brokered placement[13] - Electra is actively pursuing various financing alternatives, including equity and debt financing, to enhance liquidity and capital resources[13] - The company does not have sufficient financial resources to complete the construction and final commissioning of the refinery without additional financing in 2023 and 2024[11] Capital Expenditures and Investments - The total capital costs for the refinery complex under construction are estimated to be between CAD 155,000,000 and CAD 167,000,000, with approximately CAD 81,700,000 spent as of June 30, 2023[11] - The carrying value of property, plant, and equipment increased to $100,184 as of June 30, 2023, up from $82,288 on December 31, 2022, reflecting a growth of approximately 21.8%[26] - Capitalized development costs for the period ended June 30, 2023, totaled $14,978, a decrease from $64,080 as of December 31, 2022[27] Shareholder Information - The weighted average number of shares outstanding (basic) increased to 35,972,480 for the three months ended June 30, 2023, compared to 32,069,929 for the same period in 2022, an increase of 12.0%[4] - The balance of common shares increased from 35,185,977 on December 31, 2022, to 35,635,073 on June 30, 2023[6] - The total number of warrants increased from 3,464,177 at the end of 2022 to 13,279,204 by June 30, 2023, with no warrants exercised during the period[66] - The company issued 10,796,054 warrants in conjunction with 2028 Notes during the six months ended June 30, 2023[67] Strategic Initiatives - The company initiated a strategic business review process to evaluate potential strategic alternatives to maximize shareholder value[13] - The company is exploring its Idaho mineral properties as a potential future source of North American cobalt and copper[14] Other Financial Metrics - The company incurred CAD 1,291,000 in salary and benefits expenses for the three months ended June 30, 2023, compared to CAD 529,000 for the same period in 2022, an increase of 143.5%[4] - The company recorded a foreign exchange gain of $2,020 for the three months ended June 30, 2023, compared to a loss of $(342) in the same period of 2022[71] - The company incurred a fair value gain of $21,945 on convertible notes payable and warrants for the six months ended June 30, 2023[53]

Financial Data and Key Metrics Changes - At the end of Q1 2023, the company had approximately $12.9 million in cash and marketable securities, an increase from $8.4 million at the end of the previous quarter [12] - The company experienced a one-time loss recognition of $19.9 million due to the settlement of the 2026 notes and the creation of the 2028 notes, primarily driven by the fair valuation method used [15] Business Line Data and Key Metrics Changes - The company closed a convertible debt offering generating proceeds of $14 million, which was used to retire old debt and fund ongoing projects [8] - The black mass scoping study indicated potential EBITDA of approximately $12.6 million in year one and $9.9 million in year two from processing 2,500 tonnes of recycled material per year [23] Market Data and Key Metrics Changes - The outlook for the EV battery market remains extremely bullish, bolstered by the US Inflation Reduction Act and other incentives across North America [28] - The company noted that access to capital has become considerably more challenging due to tougher equity markets for small caps and higher interest rates [27] Company Strategy and Development Direction - The company is committed to completing the refinery project and capitalizing on its first-mover advantage in the black mass recycling market [28] - A strategic review has been launched to evaluate potential alternatives to address the funding shortfall for the refinery project [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the construction of the refinery is currently stalled due to cash issues, but once funding is secured, completion could take approximately 14 months [55] - The company is focused on managing capital and expenditures while preparing to resume construction once the remaining capital is lined up [45] Other Important Information - The company has developed a sustainability framework in partnership with stakeholders, focusing on climate change, human rights, and health and safety [10] - The black mass trial project has generated considerable interest, and the company is looking to build a black mass operation using existing refinery infrastructure at an estimated cost of approximately $6 million [48] Q&A Session Summary Question: What is the timeline for completing the refinery once funding is secured? - Management indicated that a conservative estimate for completion might be around 14 months, depending on funding alignment and crew availability [55] Question: What are the potential funding sources being considered? - Management mentioned discussions with various partners, including traditional lenders and automakers, to secure funding for the refinery project [56] Question: How does the $6 million CapEx for the black mass operation translate into EBITDA? - Management explained that the $6 million investment is expected to generate significant cash flow quickly due to leveraging existing infrastructure, which minimizes capital expenditure [57][59] Question: Will the completion of the refinery be necessary for engaging in black mass processes? - Management clarified that the refinery is operational and can process material concurrently with the black mass project, allowing for quicker cash flow generation [61] Question: What is the company's approach to the Three Fires agreement? - The company is collaborating with Three Fires to build shredding capabilities and secure a captive feed source, which aligns with their strategic goals [97]

Electra Q1 Earnings Call Presentation May 11, 2023 Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements and forward-looking information made by, or on behalf of, the Company. There can be no assurance that forward-looking statements and forward-looking information will prove to be accurate, as actual results and future events could differ materially from thos ...