To our valued Stakeholders and Shareholders,

This year has been an exciting one with many important developments for our company.

By delivering on key milestones, Electra continues to move forward with our business strategy and creating shared value for stakeholders and shareholders.

2021 was a transformational year as First Cobalt Corp. became Electra Battery Materials Corporation. We declared our intention to develop North America’s first Battery Materials Park, driven by the industry’s need for a reliable, secure, low-carbon supply chain.

In 2021, we announced a 30% increase of planned capacity of our cornerstone asset, a Canadian hydrometallurgical battery materials refinery.

In completing our financing package – backed by both Federal and Provincial governments – we are now under a year away from production and achieving our goal to become North America’s only producer of battery-grade cobalt material.

This year, we also secured feed agreements and an initial offtake agreement for cobalt sulfate production, in addition to announcing plans for a commercial-scale demonstration plant for battery recycling.

We continue to advance conversations with automakers and battery manufacturers.  We have also initiated discussions with cathode precursor manufacturers, upstream battery recyclers and potential nickel feed suppliers, as we embark on a four-phase approach to realize our Battery Materials Park vision.

On the exploration side, we resumed drilling at our Iron Creek cobalt-copper mineral development project as part of a larger exploration plan for Idaho; work which will continue throughout 2022.

As exciting as this past year has been, we are even more excited for the year to come. We have several initiatives our team is working on which we believe will continue to create value for stakeholders and shareholders. These transformational initiatives will provide further catalysts to create shareholder value.

From our team to you and yours, please accept our best wishes for a safe and healthy holiday season and a Happy New Year.

Sincerely,

Trent Mell
President & Chief Executive Officer

Advanced Automotive Battery Conference – San Diego, CA
Electra Announces Commercial Agreements with Glencore

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