Electra Battery Materials : Financial StatementsQ1 2026

About this update from Electra Battery Materials Corp

‌ELECTRA BATTERY MATERIALS CORPORATION ‌CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED)‌ (EXPRESSED IN THOUSANDS OF CANADIAN DOLLARS) March 31, 2026 December 31, 2025 ASSETS Current Assets Cash and cash equivalents $ 40,160 $ 39,024 Prepaid expenses and deposits 1,921 812 Receivables (Note 4) 790 666 42,871 40,502 Non-Current Assets Exploration and evaluation assets (Note 6) 90,285 88,776 Property, plant and equipment (Note 5) 58,454 55,078 Long-term restricted cash 1,208 1,208 Total Assets $ 192,818 $ 185,564 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 5,618 $ 5,817 US warrants (Note 11) 48,350 81,658 Lease liability 59 55 Deferred government grant (Note 8) 3,124 642 57,151 88,172 Non-Current Liabilities Term loan (Note 10) 39,249 38,168 Government loan payable (Note 8) 5,387 5,196 Government grants (Note 8) 3,124 3,124 Royalty (Note 9) 2,429 2,338 Lease liability 9 27 Asset retirement obligations (Note 7) 2,268 2,289 Total Liabilities $ 109,617 $ 139,314 Shareholders' Equity Common shares (Note 12) 426,313 419,966 Reserves (Note 13) 34,103 33,143 Accumulated other comprehensive income 3,000 1,498 Deficit (380,215) (408,357) Total Shareholders' Equity $ 83,201 $ 46,250 Total Liabilities and Shareholders' Equity $ 192,818 $ 185,564 Going concern (Note 1) Commitments and contingencies (Note 18) Subsequent events (Note 21) Approved on behalf of the Board of Directors and authorized for issue on May 13, 2026 Alden Greenhouse, Director Trent Mell, Director See accompanying notes to condensed interim consolidated financial statements. (expressed in thousands of Canadian dollars) For the three months ended March 31, 2026 2025 Operating expenses General and administrative $ 812 $ 1,043 Consulting and professional fees 1,184 1,001 Exploration and evaluation expenditures 55 41 Investor relations and marketing 143 92 Salaries and benefits 844 1,252 Share-based payments (Note 13) 805 327 Operating loss 3,843 3,756 Other Unrealized gain on marketable securities - 4 Loss on financial derivative liability - Convertible Notes - (5,067) Changes in fair value of US warrants (Note 11) 33,308 - Other non-operating loss (Note 14) (1,323) (3,861) Net income (loss) $ 28,142 $ (12,680) Other comprehensive income (loss) Fair value adjustment of 2028 Notes an...

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