Electra Announces Voting Results from 2026 Annual Meeting of Shareholders

Executive Summary

• Electra Battery Materials Corporation announced the voting results from its 2026 annual and special meeting of shareholders held on June 23, 2026.
• Shareholders unanimously approved the election of all seven director nominees and the appointment of MNP LLP as external auditors.
• The meeting resulted in shareholder approval for increased share limits under the 2022 Amended and Restated LTIP and the Employee Share Purchase Plan (ESP Plan), along with ratification of specific option and share unit grants exceeding existing limits.
• A special resolution was passed authorizing the Board to implement a potential reverse split of common shares at a ratio between 1:2 and 1:6, though execution remains entirely at the Board's discretion.

Key Details

• Shareholder Attendance: 48,202,558 common shares represented in person or by proxy, constituting 46.47% of issued and outstanding shares.
• Director Elections: All seven nominees elected with approval ranging from 98.26% to 98.88% in favor:
• David Stetson: 98.79% For / 1.21% Against
• John Pollesel: 98.46% For / 1.54% Against
• Trent Mell: 98.52% For / 1.48% Against
• Alden Greenhouse: 98.88% For / 1.12% Against
• Gerard Hueber: 98.50% For / 1.50% Against
• Jody Thomas: 98.26% For / 1.74% Against
• Susan Uthayakumar: 98.62% For / 1.38% Against
• Auditor Appointment: MNP LLP approved as external auditors.
• LTIP Share Limit Increases: Approved maximum shares issuable under the 2022 Amended and Restated LTIP increased to:
• Options: 8,725,000 shares
• Restricted Share Units (RSUs): 440,000 shares
• Performance Share Units (PSUs): 440,000 shares
• Deferred Share Units (DSUs): 1,385,784 shares
• ESP Plan Share Limit Increase: Maximum shares reserved for issuance increased from 250,000 to 400,000 shares.
• Grant Ratification: Shareholders ratified grants of 1,600,000 Options, 190,459 Deferred Share Units, and 174,000 Restricted Share Units that exceeded previously approved LTIP limits.
• Reverse Split Authorization: Special resolution passed authorizing the Board to execute a reverse split at a ratio of 1 post-split share for 2 to 6 pre-split shares. The Board retains sole discretion to proceed or not; no effective date or final ratio has been set.
• Regulatory Status: The amended LTIP and ESP Plan received conditional approval from the TSX Venture Exchange on May 4, 2026, and remain subject to final acceptance.