Aqua Metals Reports Milestone Advancements, Strategic Progress, and Sierra ARC Lithium Battery Recycling Campus Developments in 2024

About this update from Aqua Metals, Inc.

Validated closed-loop battery recycling technology, built commercial partnerships, and revised economic model to better pursue funding and scale domestic battery mineral production RENO, Nev., March 31, 2025 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable lithium battery recycling, today announced key achievements from 2024 and outlined progress for 2025 as the Company delivered critical technical milestones and high-purity material production through its proprietary Li AquaRefining™ process. In the past year, Aqua Metals delivered industry-first milestones, strengthened commercial partnerships and opportunities, and expanded its strategic vision to build a resilient, low-capex, and rapidly scalable platform for critical mineral recovery in the U.S. The Company’s innovative Li AquaRefining™ process achieved key validation milestones, proving performance at scale while offering superior environmental and economic advantages over conventional recycling methods. With the primary building for Phase One of the Sierra ARC fully upgraded and ready for equipment installation, Aqua Metals is prepared to commence equipment installation and commissioning as well as the buildout of a new adjacent building to enable processing of 7,000 tonnes of black mass feedstock annually. These final steps in commercialization depend upon securing the remaining financing for the CAPEX and G&A funding required to complete the project — and position the Company to become a domestic leader in the closed-loop, clean energy supply chain. 2024 Progress and 2025 Momentum Highlights Technology Proven, Products Validated Commercial Scale in Motion: Sierra ARC Strategic Partnership Advancements Financial Recognition and Resilience “Our team delivered in 2024 — proving and de-risking our technology at the pilot plant, advancing existing and potential commercial partnerships, and preparing for commercialization,” said Steve Cotton, President and CEO of Aqua Metals. “In a year where much of the battery industry has faced delays and headwinds, we adapted with speed and discipline. The result is a more resilient, capital-efficient strategy that positions us to move fast and flexibly.” “We’ve reimagined how to commercialize our first production facility to meet the realities of today’s strategic battery minerals market while staying true to our long-term vision,” Cotton added. “By prioritizing higher-margin products and deepening strategic partnerships, we believe that subject to securing the additional financing we need, we will steadily progress our path to revenue while building the foundation for a sustainable, closed-loop supply chain in the U.S.” About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the Company’s Innovation Center in the Tahoe-Reno Industrial Center. To learn more, please visit  www.aquametals.com . Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website ( https://ir.aquametals.com ), in addition to its Twitter, Threads, LinkedIn and YouTube accounts at  https://twitter.com/AquaMetalsInc  (@AquaMetalsInc),  https://www.threads.net/@aquametalsinc  (@aquametalsinc),  https://www.linkedin.com/company/aqua-metals-limited  and  https://www.youtube.com/@AquaMetals  respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Safe Harbor This press release contains forward-looking statements concerning Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations, and intentions and other statements that contain words such as "expects," "contemplates," "anticipates," "plans," "intends," "believes", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our expectations for our advancement of proposed and existing partnerships, including our supply agreement with 6K Energy and our continued participation in the production of CAM made from 100% domestically sourced, recycled nickel, and the expected benefits from those partnerships; our intent to complete the development and commissioning of our Phase 1 facility; and our vision to build a resilient, low-capex, and rapidly scalable platform for mineral recovery. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, including, but not limited to, the risk that (1) we have not commenced the development of our co-location facility with 6K Energy, (2) we do not have any definitive agreements with CAM manufacturers to provide them with recycled nickel from our AquaRefining process; (3) the risk we may not be able to successfully acquire the funding necessary to develop our Sierra ARC facility required to produce recycled nickel in commercial quantities, (4) even if we are to able acquire the necessary funding, the risk we may not be able to successfully develop the Sierra ARC facility or realize the expected benefits from such facility; (5) the risk that we may not be able to acquire the funding necessary to maintain our current level of operations; and (6) those risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on March 31, 2025. Aqua Metals cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake and specifically disclaims any obligation to update or revise such statements to reflect on new circumstances or unanticipated events as they occur, except as required by law. Contact Information Investor Relations Bob Meyers & Rob Fink FNK IR 646-878-9204 [email protected] Media David Regan Aqua Metals 415-336-3553 [email protected]

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