Electra Strengthens ESG Leadership

TORONTO, April 11, 2022 /PRNewswire/ - Electra Battery Materials Corporation (TSXV: ELBM) (OTCQX: ELBMF) ("Electra") today announced the appointment of Renata Cardoso as Vice-President, Sustainability and Low Carbon. In this capacity, Renata will have overall responsibility for the Company's mission to exceed global ESG norms in the industry, in line with Electra's business objective to be the partner of choice in the EV market. Ms. Cardoso is joining the Company after 15 years with global miner Vale. Ms. Cardoso has extensive experience leading corporate sustainability and climate change strategy in the international mining and metals industry.

• Electra is committed to being the most sustainable and lowest GHG producer of battery materials in the world
• As a key member of the senior leadership team, Ms. Cardoso will guide the development of ESG strategy
• In her previous roles, Ms. Cardoso led cross functional teams to develop and implement a low carbon roadmap for operations across Canada, Indonesia, UK and Brazil

"We are very pleased to have attracted a global leader in sustainability to our organization," said Trent Mell, CEO. "Renata's track record in climate change management, sustainability strategy and transparency will serve Electra well as we commission our cobalt sulfate refinery in December and advance our battery recycling plant in 2023. We intend to have the lowest carbon footprint of all cobalt sulfate producers in the world, and Renata will oversee our journey to carbon neutrality and ensure that the same standards are applied to all phases of future growth."

"It is an honour to join Electra as the company executes its strategic plan to become the most sustainable battery materials company in the world," said Renata Cardoso. "The North American battery materials supply chain is quickly evolving and our leading ESG credentials will be what establishes Electra as an industry leader."

Ms. Cardoso is a seasoned professional from one of the largest mining companies in the world. An economist by training who also holds an MBA, Renata began her career in Vale's corporate strategy group. In 2008, she transitioned to help create Vale's approach for Sustainability with responsibilities for climate change management, sustainability strategy and transparency, and social and environmental indicators performance management. In 2019, she joined Vale Canada, last serving in low carbon initiatives, leading cross functional teams to develop and implement a low carbon roadmap for operations in Canada, Indonesia, UK and Brazil.

In accordance with the Company's long term incentive plan, Electra has granted incentive stock options to purchase an aggregate of 350,000 pre-consolidation common shares of Electra exercisable at the previous day's closing price of C$0.32 for a period of five years. The stock options will vest in three equal tranches on the first, second and third anniversary of the grant date. Long-term incentive grants are a key retention and incentive tool for key employees and new hires and remain subject to the approval of the TSX Venture Exchange.

Electra is planning to build a fully integrated, localized and environmentally sustainable battery materials park. Leveraging the Company's own mining assets and business partners, the Electra Battery Materials Park is expected to host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho, USA. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region's fast growing electric vehicle industry.

On behalf of Electra Battery Materials.

Trent Mell
Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR at www.sedar.com. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Electra Battery Materials Corporation