August 23, 2023

Electra Announces Commitment for Strategic Investment from First Nation-Owned Three Fires Group

TORONTO — Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) announces that it has received a commitment for a strategic investment from the Three Fires Group Inc. (“Three Fires”) in support of advancing the Company’s battery materials park north of Toronto and accelerating its battery recycling strategy in North America. The Three Fires investment is expected to form part of a larger financing by Electra totaling up to $20 million. All amounts are in Canadian currency unless noted.