Slide 1: Q4 Results & Progress
Q4 Results & Progress ONSHORING THE EV SUPPLY CHAIN Electra Q4 Earnings Call Presentation April 5, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements All statements in this presentation other than statements of historical fact constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, and “forward-looking information” under similar Canadian legislati
Slide 3: Today’s presenters
Today’s presenters Trent Mell Craig Cunningham Mark Trevisiol CEO CFO VP Project Development NASDAQ: ELBM | TSX.V: ELBM 3
Slide 4: Q4 highlights
Q4 highlights Continued progress with commissioning of refinery Launched plant-scale processing of black mass material Raised US$5.5M in a challenging market environment Acquired CAS property in the Idaho Cobalt Belt Issued RFP to identify engineering firm for pre-feasibility study for Bécancour bat
Slide 5: Q4 Financial Highlights
t Te asa jp tlectra | Q4 Financial Highlights
Slide 6: Q4 financial results
Q4 financial results Cash & Marketable Securities o Balance sheet changes driven by refinery construction costs $25.0 o Other costs included $19.7 o $0.6M for exploration and development at Iron Creek $20.0 o $1.4M in engineering & metallurgical studies costs o $0.8M for G&A costs Millions $15.0 $10
Slide 7: Convertible debt financing
Convertible debt financing o US$51M principal amount of 8.99% secured convertible notes o Repurchased US$37M of outstanding notes at par value, plus accrued interest o US$2.48 conversion price o 10.8M warrants exercisable over 5 years at a US$2.48 US$14M Net proceeds conversion price o Minimum cash
Slide 8: Guidance update
Guidance update o Withdrew guidance on Feb. 14 o Re-baseline engineering report on refinery project timelines and costs underway o Report is being completed by EPC contractor o 3rd party-estimator to review report o Completion expected early in Q2 o Capital spend higher than $105M expected Updated p
Slide 9: Refinery project update
iJ inery projec Refi update
Slide 10: Progress at refinery continues
Progress at refinery continues 0 Commissioned lab, feed material handling system, leach circuit, filter presses, and reagent handling systems Completed erection of solvent extraction building 100% of cobalt sulfate loadout facility completed Owners’ team now at 31 personnel lost time incidents Devel
Slide 11: June 2021
June 2021 NASDAQ: ELBM | TSX.V: ELBM 11
Slide 12: December 2022
December 2022 NASDAQ: ELBM | TSX.V: ELBM 12
Slide 13: Cobalt sulfate refinery – December 2022 aerial view
Cobalt sulfate refinery – December 2022 aerial view Maintenance Shop Solvent Extraction Plant Storage & Feed preparation Leaching & neutralization circuit Testing & Assay Lab Crystalizer Final product storage NASDAQ: ELBM | TSX.V: ELBM 13
Slide 14: Construction update
Construction update o Continue to receive deliveries of long-lead equipment. o Repairs to be damaged evaporator film expected to be completed in Q2 o Deliveries of final 10 solvent extraction tanks expected in June instead of October 2022 o Deliveries of computer chips expected in June instead of Ja
Slide 15: Black mass recycling update
Black mass recycling update
Slide 16: Black mass recycling
Black mass recycling Recovery of high value elements contained in shredded lithium-ion batteries Black mass typically contains nickel, cobalt, lithium, copper, and graphite Recovered elements are processed and refined Recycling process produces multiple marketable products Keys to recovery are effec
Slide 17: Electra launched black mass trial
Electra launched black mass trial o Large scale trial launched at refinery in Ontario o Apply proprietary hydromet process previously tested o Recovery of high value metals for resale anticipated ⇢ Nickel, cobalt, lithium, copper, and graphite o Critical success factors for trial ⇢ Effectiveness of
Slide 18: Electra achieved industry first
Electra achieved industry first o First recovery of nickel-cobalt MHP product via hydrometallurgical process in North America o Recovery and production of lithium carbonate o Other elements recovered: ⇢ Manganese, copper, graphite o Recovery rates are at or superior to results achieve in lab setting
Slide 19: Next steps with black mass trial
Next steps with black mass trial Trial extended to August based on success to date First commercial delivery anticipated in Q2 Completion of internal modeling and economics Ongoing refinement of hydrometalurgical process Discussions with potential battery supply chain partners Production of lithium
Slide 20: Outlook & near-term milestones
Outlook & near- term milestones
Slide 21: Market outlook and developments
Market outlook and developments US$7,500 EV tax credit o Inflation Reduction Act provides favorable backdrop o Annual EV sales expected to grow to 73M by 2040* 27.1% CAGR in EV sales o Black mass supply to grow 25% per year* through 2030 o OEMs making direct investments in the EV supply chain o Near
Slide 22: Near-term milestones
Near-term milestones o Q2 – Re-baseline engineering report o Q2 – Shipment of products to customers o Q2 – Delivery of key equipment to refinery o H2 2023 – Bécancour prefeasibility study Multiple catalysts for value creation NASDAQ: ELBM | TSX.V: ELBM 22
Slide 23: Questions?
Questions?
Slide 24: Electra Battery Materials
Electra Battery Materials NASDAQ: ELBM TSX-V: ELBM Joe Racanelli, VP Investor Relations info@ElectraBMC.com 416.900.3891