Electra Battery Materials' Cobalt Refinery Construction Remains Within USD 73 Million Budget

• Electra Battery Materials’ Ontario cobalt sulfate refinery construction remains within its US$73 million budget.
• Site workforce reached 130, up from approximately 60 in August; tailings storage facility civil works are approximately 40% complete.
• Solvent extraction piping fabrication and installation are creating schedule pressure; any required schedule adjustment is expected to be modest.
• Glencore’s agreement secures 100% of commissioning and ramp-up feedstock through 2027, with long-term supply through 2031.
• Approximately 60% of planned cobalt sulfate production through 2029 is committed to LG Energy Solution under a March 2026 binding term sheet.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Electra Battery Materials Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001171843-26-006806), on October 26, 2026, and is solely responsible for the information contained therein.