Eligibility and registration
Shareholders who wish to participate in the General Meeting shall

• be entered in the share register maintained by Euroclear Sweden AB on 6 August 2025, and
• notify the company no later than on 8 August 2025 by post to Eurobattery Minerals AB, Strandvägen 7A, SE-114 56 Stockholm or by e-mail to ir@eurobatteryminerals.com. The notification should include the full name, personal or organizational number, shareholding, address, daytime telephone number, and, where applicable, information about proxies or assistants (maximum 2). The notification should be accompanied, where applicable, by powers of attorney, registration certificates, and other authorization documents.

Nominee-registered shares
Shareholders whose shares are registered in the name of a nominee must, in order to be entitled to participate in the meeting, have their shares registered in their own name through their nominee, so that they are registered in the share register maintained by Euroclear Sweden AB as of the record date 6 August 2025. Such registration may be temporary (so-called voting rights registration). Shareholders who wish to register their shares in their own name must, in accordance with the respective nominee’s routines, request that the nominee make such voting rights registration. Voting rights registration requested by shareholders in such time that the registration has been made by the relevant nominee no later than 8 August 2025 will be taken into account in the preparation of the share register.

Proxy etc.
If a shareholder is to be represented by a proxy, the proxy must bring a written, dated authorization signed by the shareholder to the meeting. The authorization may not be older than one year, unless a longer period of validity (but no longer than five years) has been specified in the authorization. If the power of attorney is issued by a legal entity, the proxy must also bring the current registration certificate or equivalent authorization document for the legal entity. To facilitate registration, a copy of the power of attorney and other authorization documents should be attached to the notification to attend the meeting. Proxy forms are available on the company’s website www.eurobatteryminerals.com and will be sent by post to shareholders who contact the company and state their address.

Number of shares and votes
The total number of outstanding shares and votes in the company at the time of this invitation amounts to 436,306,174. The company does not hold any shares.

Proposal for the agenda

1. Opening of the meeting
2. Election of the chairman of the meeting
3. Preparation and approval of the voting list
4. Approval of the agenda
5. Election of one or two persons to verify the minutes
6. Determination of whether the meeting has been duly convened
7. The Board’s proposal for amending the articles of association
8. Resolution on a rights issue of shares
9. The meeting is closed

Proposed decision in brief:

The Board’s proposal for amending the articles of association (item 7)
The Board of Directors proposes that the Extraordinary General Meeting resolves that the Articles of Association be amended in accordance with below.

A valid resolution requires that it has been supported by shareholders representing at least two-thirds of both the votes cast and the shares represented at the Extra General Meeting. The decision is conditioned by the Extra General Meetings approval of the Board’s proposal for a resolution on a rights issue.

The Board of Directors or the person appointed by the Board of Directors is authorized to decide on minor corrections required for registration with the Swedish Companies Registration Office.

Resolution on a rights issue of shares (item 8)
That through a preferential rights issue increase the share capital with at the most 1,790,988.42 SEK through a new share issue of at the most 1,308,918,522 shares to a subscription price of 0.06 SEK per share.

For the issue, the following terms shall otherwise apply: 

1. The issue shall take place with preference for the shareholders of the company. For each existing share, one (1) unit right is obtained. One (1) such unit right entitles to subscription of one (1) unit. One unit consists of three (3) shares.
2. The record date of the share register kept by Euroclear Sweden AB for determining which shareholders are entitled to participate in the issue with preferential rights shall be the 21 August 2025. The public may also subscribe in the issue.
3. For each subscribed unit 0.18 SEK shall be paid in cash (0.06 SEK per share). Amounts in excess of the quota value shall be added to the free share premium reserve.
4. The subscription of shares shall take place during the period from 25 August 2025 until 8 September 2025. Subscription pursuant to preferential rights shall take place through simultaneous cash payment. Subscription not pursuant to preferential rights shall take place on a separate subscription list and payment shall be made no later than the second banking day after the notification of allotment has been sent to the subscriber in the form of a settlement note. The Board shall have the right to prolong the period of subscription and payment.
5. In the event not all units are subscribed for pursuant to preferential rights as set out above, the Board shall, within the maximum amount of the issue, decide on allotment of units to others who subscribed for units not pursuant to preferential rights and decide how distribution among subscribers shall take place.

   Firstly, the allotment of new units subscribed not pursuant to unit rights shall be made to subscribers who have also subscribed for new units pursuant to unit rights, irrespective of whether or not the subscriber was a shareholder on the record date, and in the event that allotment to them may not take place in full, allotment shall be made pro rata in relation to the number of unit rights used to subscribe for new units and, where this is not possible, through a drawing of lots.

   Secondly, the allotment of new units subscribed not pursuant to unit rights shall be made to others who subscribed not pursuant to unit rights, and in the event that allotment to them may not take place in full, allotment shall be made pro rata in relation to the number of new units each of them subscribed and, where this is not possible, through a drawing of lots.

   Thirdly, new units subscribed for without unit rights shall be allocated to potential underwriters in proportion to the size of the underwriting commitments, and to the extent that this cannot be done, by drawing lots.

6. The new shares shall entitle the holder to dividends for the first time at the record date for dividends that occurs closest after the day that the new shares are registered at the Swedish Companies Registration Office and entered in the share register maintained by Euroclear Sweden AB.
7. The decision requires that the general meeting decides on amending the articles of association.
8. The Board or whomever the Board appoints is authorized to decide on smaller corrections that are needed for registration at the Swedish Companies Registration Office and Euroclear Sweden AB.

Personal data
Personal data obtained from the share register maintained by Euroclear Sweden AB, notification of attendance at the meeting and information about representatives, proxies and assistants will be used for registration, preparation of the voting list for the meeting and, where applicable, minutes of the meeting.

Other
The required documents, complete proposals for resolutions and proxy forms will be available at the company’s office at Strandvägen 7a, 114 56 Stockholm, Sweden, and on the company’s website www.eurobatteryminerals.com no later than two weeks prior to the general meeting and will be sent to shareholders who so request and state their postal address.

Shareholders have the right to request information in accordance with Chapter 7, Section 32 of the Swedish Companies Act (2005:551).

“Finally entering into an agreement for a short-term cash-flow-generating project marks a game-changing moment for Eurobattery Minerals. For the first time, we move from a pure exploration and development company to a company with real future revenue potential. This shift not only strengthens our financial foundation but also accelerates our ability to reinvest in our core battery mineral assets. It is a major step toward delivering long-term value for our shareholders and establishing ourselves as a more resilient, growth-oriented mining company”, said Roberto García Martínez, CEO of Eurobattery Minerals.

The “San Juan” mine is located near the town of A Gudiña, in the province of Ourense in Galicia, Spain. This wolfram deposit has been known since the 1970 but began to be investigated in the mid-1980s when extensive field work was conducted in the area, including geological cartography and outcrop-trenches. This work revealed high grades of tungsten trioxide (WO3), of the order of 2 per cent in the recognized outcrops.

The proven ore reserves that have been confirmed by core drilling at the deposit are an estimated 60,000 tons of ore, grading 1.3% WO₃. The geological potential for a much larger reservoir is high, but any additional resources need to be confirmed by further explorations.

Introduction and key points of the TSJ investment and the project:

On May 7, 2024, Eurobattery Minerals announced that the Company had signed a non-binding letter of intent with Tungsten San Juan S.L. concerning an investment in TSJ. As part of the previous non-binding letter of intent with TSJ, Eurobattery Minerals can today announce that the Company and TSJ have entered an agreement, on revised terms from the previous letter of intent, which concerns a four-tranche investment in TSJ totalling EUR 1.5 million for an ownership stake of 51 per cent on a fully diluted basis in TSJ.

• Eurobattery Minerals will make an investment of EUR 1.5 million in TSJ for an ownership stake of 51 per cent on a fully diluted basis. The first initial payment of EUR 100,000 was made when the agreement was signed.
• The Company controls 51 percent of the votes in TSJ from the first initial tranche payment of EUR 100,000.
• The investment is structured as primary shares in TSJ and the full investment amount would primarily be used for the design and construction of a pilot processing plant as well as working capital for the start of mining operations, including production.
• With the EUR 1.5 million investment, TSJ is expected to start to generate positive cash flow in H2 2026. No further explorations or drilling are needed to start to generate positive cash flow.
• The San Juan wolfram mining project has all the necessary licences and contracts in place to commence mining production, including a letter of intent for an off-take agreement with Wolfram Bergbau und Hütten AG, an Austrian world-leading tungsten producer within the Swedish Sandvik Group.
• Eurobattery Minerals´ investment, in combination with the letter of intent for an off-take agreement with Wolfram Bergbau und Hütten AG, will enable TSJ to start delivering tungsten material to Europe in H2 2026.
• The Company´s cash investment is payable in four-tranches. The first initial EUR 100,000 has already been executed in conjunction with signing of the agreement with TSJ. The remaining three tranche-payments will be paid as follows:

  – Q3-2025: EUR 100,000
  – Q4-2025: EUR 100,000
  – Q1-2026: EUR 1.2 million

• The Company intends to complete the final tranche-payment of EUR 1.2 million in January of 2026.
• Tungsten is a critical raw material with several unique properties like high density, hardness, and heat resistance. Tungsten is used widely in industrial applications and in many other important sectors, e.g. defence-, aerospace-, electronics- and energy applications. With tungsten being a critical raw material for the defence industry, it is important for Europe to develop domestic or allied sources of tungsten to safeguard critical defence capabilities, to offset supply disruption vulnerabilities that directly could compromise national security and defence readiness. The mineral’s exceptional physical properties makes it an absolute vital resource for the contemporary industrial economy.
• Tungsten is a highly lucrative monetary commodity and has maintained a stable price between USD 250 and USD 350 per metric ton unit (“MTU”) during the period between 2023-2025, contributing to the project’s economic viability. Since January of 2025, the price of tungsten has increased by more than 40 per cent, currently standing at USD 460/MTU (as of July 2025).

Pre-operational work in the San Juan wolfram mine will begin in July of 2025. The mining operation does not involve blasting and modern technology based on gravimetric processes will be utilized. Existing facilities will be used for the construction of a pilot processing plant. The industrial facilities will be refurbished, and operations are expected to begin in H2 2026.

The Company wants to be a part of a fully traceable supply chain for responsibly extracted minerals, produced in Europe, for Europe. In all the Company’s projects, Eurobattery Minerals is committed to the highest standards of sustainability and responsibility and the San Juan mining project will be no exception.

For further information, a detailed technical report is attached to this press release.

Comment from CEO

“As was communicated today in a separate press release, we are thrilled that Eurobattery Minerals has finally entered into an agreement with Tungsten San Juan S.L. – a Spanish entity controlling the San Juan wolfram mine in Galicia, Spain – regarding a EUR 1.5 million majority stake investment in TSJ. Through this strategic majority-stake investment, Eurobattery Minerals will venture into extraction and processing, which has for long been an integral part of the Company’s long-term strategy and vision. Tungsten is a critical raw material with several unique properties like high density, hardness and heat resistance making it ideal for the defence, aerospace, electronics and energy sectors. Given its broad defence industry applications, it is important that Europe ensures domestic production of tungsten to offset supply disruption vulnerabilities that directly could compromise national security and defence readiness capabilities.

The proposed Rights Issue to the extraordinary general meeting would, among other things, enable Eurobattery Minerals to complete this planned strategic investment in TSJ and ensure our long-term strategy and vision to be part of a fully traceable supply chain for responsibly extracted minerals, such as tungsten, that are produced in Europe, for Europe”, said Roberto García Martínez, CEO of Eurobattery Minerals.

Terms of the Rights Issue

The Rights Issue is subject to the decision of the extraordinary general meeting on August 14, 2025. The Rights Issue is also subject to and conditional upon that the extraordinary general meeting on August 14, 2025, resolves to amend the articles of association in accordance with the Board of Directors´ proposal to the extraordinary general meeting.

• Anyone who is registered as a shareholder in Eurobattery Minerals on the record date August 21, 2025, receives one (1) unit right for each share in the Company. One (1) unit right entitles subscription of one (1) Unit in the Rights Issue. One (1) Unit contains three (3) new shares in the Company.
• The Rights Issue entails an issue of maximum 436,306,174 units, corresponding to an issue of maximum 1,308,918,522 shares in the Company.
• The subscription price in the Rights Issue amounts to SEK 0.18 per Unit, corresponding to a subscription price of SEK 0.06 per share.
• The Rights Issue can, if fully subscribed, provide Eurobattery Minerals with approximately SEK 78.5 million before transaction costs, which Eurobattery Minerals estimates to a maximum of approximately SEK 5.0 million, before set-off of outstanding claims amounting to approximately SEK 3.7 million and, if deemed appropriate, before early repayment of the outstanding convertible loan to Fenja Capital II A/S amounting to approximately SEK 4.0 million.
• The subscription period in the Rights Issue runs from and including August 25, 2025, up to and including September 8, 2025.
• The Rights Issue is covered by subscription undertakings of approximately SEK 3.7 million, corresponding to approximately 4.7 per cent of the Rights Issue, with way of payment through set-off of outstanding claims against the Company.

Background and rationale of the Rights Issue

Eurobattery Minerals is a mining and exploration company that conducts targeted mineral exploration in Europe with a focus on raw materials for the ongoing electrification. The Company currently has two flagship projects focusing on nickel, cobalt and copper located in the eastern part of Finland and the northwestern part of Spain.

On May 7, 2024, Eurobattery Minerals announced that the Company had signed a non-binding letter of intent with Tungsten San Juan S.L. concerning an investment in TSJ for an ownership stake of 51 per cent on a fully diluted basis in TSJ. As part of the previous non-binding letter of intent with TSJ, Eurobattery Minerals today announced in a separate press release that the Company and TSJ have entered an agreement, on revised terms from the previous letter of intent, concerning a planned four-tranche investment in TSJ totaling EUR 1.5 million, through which Eurobattery Minerals will obtain an ownership stake of 51 per cent on a fully diluted basis in TSJ.

TSJ is a Spanish mining entity located in Ourense, Galicia, Spain, engaging in tungsten production in the San Juan wolfram mine, which has all the necessary licenses and contracts in place to commence mining production, including a letter of intent for an off-take agreement with Wolfram Bergbau und Hütten AG, an Austrian world-leading tungsten producer within the Swedish Sandvik Group.

This strategic investment marks a transformational step for Eurobattery Minerals and makes an integral part of the Company’s long-term strategy and vision to contribute to European independence from non-European supply of critical raw materials. The issue proceeds from the Rights Issue, after deduction of transaction costs, which Eurobattery Minerals estimates to a maximum of approximately SEK 5.0 million, and after subscriptions with way of payment through set-off approximating to SEK 3.7 million, are planned to be allocated according to below in order of priority:

• Financing of the initial planned investment in TSJ, approximately 24 percent.
• Commence a drilling campaign in the San Juan wolfram mine to increase the ore reserves for TSJ, approximately 15 percent.
• Increase the TSJ plant capacity from 5 tons ore extraction / hour to 20 tons ore extraction / hour, approximately 15 percent.
• Complete the bankable feasibility study and start basic engineering at the Company’s subsidiary FinnCobalt Oy, approximately 30 percent.
• Working capital expansion intended to hire more experts at TSJ, FinnCobalt Oy and Eurobattery Minerals, approximately 10 percent.
• If deemed appropriate, early repayment of outstanding convertible loan, approximately 6 percent.

Change in number of shares and share capital and dilution

Upon full subscription in the Rights Issue, the number of shares in the Company will increase by a maximum of 1,308,918,522 shares, from 436,306,174 shares to 1,745,224,696 shares and the share capital will increase by a maximum of SEK 1,790,988.42 from SEK 596,996.14 to SEK 2,387,984.56. For existing shareholders in Eurobattery Minerals who does not participate in the Rights Issue, will undergo a dilution of their shareholding in the Company by 75.0 per cent, assuming full subscription in the Rights Issue.

Information document

The complete terms and conditions of the Rights Issue, along with instructions for subscription, and additional information about the Company and subscription undertakings, will be set forth in the information document (the “Information document”) that will be published by the Company prior to the start of the subscription period. The information document will be prepared according to what is prescribed in Article 1.4 (db) of Regulation (EU) 2017/1129 of the European Parliament and of the Council (the “Prospectus Regulation”).

Subscription undertakings

The Company has received subscription undertakings of approximately SEK 3.7 million, corresponding to approximately 4.7 per cent of the Rights Issue with way of payment through set-off of outstanding claims against the Company. The subscription undertakings have been made by Roberto García Martinez (CEO of Eurobattery Minerals) privately and through associated company, Mattias Modén (CFO of Eurobattery Minerals) through associated company, and Eckhard Cordes and Jan-Olof Arnbom, both members of the Board of Directors in Eurobattery Minerals.

No compensation is paid for the subscription undertakings in the Rights Issue. The subscription undertakings are not secured by bank guarantees, blocked funds, pledges or similar arrangements.

A subscription of units in the Rights Issue (other than by exercising preferential rights) which result in an investor acquiring a shareholding corresponding to or exceeding a threshold of ten (10) per cent or more of the total number of votes in the Company following the completion of the Rights Issue, must prior to the investment be filed with the Inspectorate of Strategic Products (Sw. Inspektionen för strategiska produkter). To the extent any subscription undertaker’s fulfilment of their subscription undertaking entails that the investment must be approved by the Inspectorate of Strategic Products in accordance with the Swedish Screening of Foreign Direct Investments Act (Sw. lagen (2023:560) om granskning av utländska direktinvesteringar), such part of the subscription undertaking is conditional upon notification that the application of the transaction is left without action or that approval has been obtained from the Inspectorate of Strategic Products.

Preliminary timetable for the Rights Issue

Extraordinary general meeting

The Board of Directors´ proposal of the Rights Issue is subject to the extraordinary general meeting on August 14, 2025, deciding on the Rights Issue. The Rights Issue is also subject to and conditional upon that the extraordinary general meeting on August 14, 2025, resolves to amend the articles of association in accordance with the Board of Directors´ proposal to the extraordinary general meeting. Notice to the extraordinary general meeting will be announced through a separate press release.

Advisors

Mangold Fondkommission AB is financial advisor and Foyen Advokatfirma i Sverige KB is legal advisor to the Company in connection with the Rights Issue.

Important information

Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and people in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Eurobattery Minerals in any jurisdiction, either from Eurobattery Minerals or from anyone else.

This press release is not a prospectus according to the definition in the Prospectus Regulation and has not been approved by any regulatory authority in any jurisdiction. No prospectus will be prepared in connection with the Rights Issue. The Company will prepare and publish an information document in accordance with what is prescribed in Annex IX of the Prospectus Regulation before the subscription period in the Rights Issue begins.

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 (“Securities Act“), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Forward-looking statements

This press release contains forward-looking statements related to the Company’s intentions, estimates or expectations with regard to the Company’s future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “will,” “may,” “implies,” “should,” “could” and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nordic Growth Markets’ rules.

Adoption of the income statement and balance sheet
The annual general meeting resolved to adopt the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet.

Allocation of result
The annual general meeting resolved that all funds available to the annual general meeting shall be carried forward.

Discharge from liability
The members of the board of directors and the CEO were discharged from liability for the financial year 2024.

Election of the board of directors and auditor and remuneration
The annual general meeting resolved, in accordance with the proposal from the shareholder DH Invest AB, that the board of directors shall consist of three board members without deputy board members. It was further resolved that the Company shall have a registered accounting firm as auditor.

Furthermore, it was resolved, in accordance with the proposal from the shareholder DH Invest AB, that an aggregate annual fee of SEK 420,000 shall be paid to the board members, of which SEK 180,000 to the chairman of the board of directors and SEK 120,000 to each of the other board members elected by the annual general meeting. It was resolved, in accordance with the proposal from the shareholder DH Invest AB, that the auditor's fee shall be paid in accordance with approved invoice.

The annual general meeting resolved, in accordance with the proposal from the shareholder DH Invest AB, to re-elect Eckhard Cordes, Jan Olof Arnbom and Roberto Garcia Martinez as members of the board of directors. Jan Olof Arnbom was elected chairman of the board of directors.

GO Revision & Consulting Stockholm AB was elected as auditor. GO Revision & Consulting Stockholm AB has informed the Company that the authorised public accountant Johan Isbrand will be the auditor in charge.

Resolution to issue performance shares to the Company's CEO
The annual general meeting resolved, in accordance with the board of directors' proposal, to issue performance shares to the Company's CEO, Roberto Garcia Martinez. The complete proposal is included in the notice to the annual general meeting which was published on 28 May 2025.

Resolution on incentive program for the Company's CEO
The annual general meeting resolved, in accordance with the board of directors' proposal, on an incentive program for the Company's CEO. The complete proposal is included in the notice to the annual general meeting which was published on 28 May 2025.

Issue authorization
The annual general meeting resolved, in accordance with the board of directors' proposal, to authorize the board of directors to, on one or more occasions before the next annual general meeting, with or without deviation from the shareholders' preferential rights, against cash payment, contribution in kind or set-off, resolve on new issues of shares, convertibles and/or warrants.

The auditor’s report, which is attached to the annual report for 2024, deviates from what is common as a remark is stated by the auditor relating to a significant uncertainty regarding the going concern, as presented below.

Material uncertainty regarding the going concern assumption

Without qualifying my opinion above, I draw your attention to the statement in the Directors’ Report that in order for the company to continue to exploit its projects and develop its medium-and-term strategy, additional capital will be required in the short term. If capital raising fails, the projects may need to be divested before they are fully developed. The Board and management are negotiating with various external parties and potential off-takers to secure the Company’s financial capacity to develop the Company’s projects and to become a European mining and mineral commodity supplier. It is the Board’s judgement that there are opportunities for continued financing and thus opportunities for continued operations.

The above indicates that there is a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern

Eurobattery Minerals comment to the Auditor´s Report
The comment from the auditor is based on the fact that Eurobattery Minerals is a growth company and is financed through external capital. During 2024 and 2025, the operations are being financed by using the warrant series TO6. Since last summer, the Company has entered into off-take agreements and off-take programs, with big industry players like Boliden AB and Terrafame Ltd. Good progress is also being made in the Environmental Permit Application for the Finnish battery mineral project Hautalampi. In light of the above and negotiations with other potential off-takers and external partners – and taking into account the positive trend for the project in Finland – the Board of Directors believes that the prospects are very good to continue to develop the business.

“During 2024, Eurobattery Minerals took many important steps forward. With full ownership of the Hautalampi project in Finland, a submitted environmental permit, and a long-term offtake agreement with Boliden, we’ve taken concrete steps toward becoming a European producer of critical raw materials. Our collaboration with local partners also ensures we are building a future-proof, sustainable mining operation aligned with Europe´s green transition,” says Roberto García Martínez, CEO of Eurobattery Minerals AB

Strategic and operational highlights 2024

For the Finnish Hautalampi Battery Mineral Project:

• March: Bedrock analysis confirmed highly favourable geological conditions for mining at the Hautalampi battery mineral project in Finland.
• April: The environmental permit application for the Hautalampi mine was submitted, marking a key milestone towards production.
• May: An MoU was signed with Okun Energia Oy to develop local solar power, supporting future carbon-zero mineral production.
• July: Eurobattery Minerals acquired the remaining 30% of FinnCobalt Oy, securing 100% ownership of the Hautalampi project.
• August: A 10-year offtake agreement was signed with Boliden AB for copper concentrate from Hautalampi.

For the Spanish Corcel Project:

• The Company submitted all necessary information for environmental and operating permits for Corcel in August 2022. No new public developments occurred in 2024. As demand for European-sourced raw materials intensifies, Corcel continues to represent a strategically significant long-term asset aligned with EU goals for responsible and regional mineral supply. The Company continues to await a positive decision from the Energy and Mining Authority of Galicia and we remain fully committed to the Corcel battery mineral project.

Detailed financial information
The 2024 Annual Report of Eurobattery Minerals AB is available for download at the Company’s website and can be viewed in the attachment of the release (see below).

The publication of the Annual Report for the financial year 2024 of Eurobattery Minerals – which was scheduled for June 9, 2025 – is delayed. The reason for the delay is that the Company and its auditors need more time to finalize the annual report and complete the audit.

The reason for the postponement is that the accounts for the year 2024 are much more complex than previous years, given the vast amount of data from one of the subsidiaries. This is due to the fact that a large part of the Group´s business is conducted in Finland and that Eurobattery Minerals completed the last step of the acquisition of FinnCobalt Oy in 2024.

The Company and its auditors are working to finalize and publish the Annual Report as soon as possible. The new expected date of publication is 19 June 2025.

Right to Participate and Notification

Shareholders who wish to participate at the annual general meeting must:

• be registered as a shareholder in the share register maintained by Euroclear Sweden AB on Thursday, June 19, 2025, and
• notify the Company no later than Tuesday, June 24, 2025, by post to Eurobattery Minerals AB, Strandvägen 7A, SE-114 56 Stockholm or by e-mail to ir@eurobatteryminerals.com. The notification should include the full name, personal or organizational number, shareholding, address, daytime telephone number, and, where applicable, information about proxies or assistants (maximum 2). The notification should be accompanied, where applicable, by powers of attorney, registration certificates, and other authorization documents.

Nominee-registered shares
Shareholders who have had their shares nominee-registered must, in order to be entitled to participate in the general meeting, have the shares registered in their own name, so that the shareholder is registered in the share register maintained by Euroclear Sweden AB on the record date, Thursday, June 19, 2025. Such registration may be temporary (so-called voting registration). Shareholders wishing to register shares in their own name must request such registration according to the respective nominee’s routines in time so that the registration by the nominee is made no later than Tuesday, June 24, 2025.

Number of Shares and Votes
The total number of outstanding shares and votes in the Company at the time of this invitation amounts to 436,306,174 (including the additional shares to be registered after the exercise of TO 6). The Company does not hold any shares.

Proposed agenda

1. Opening of the meeting
2. Election of the chairman of the meeting
3. Preparation and approval of the voting list
4. Approval of the agenda
5. Election of one or two persons to verify the minutes
6. Determination of whether the meeting has been duly convened
7. Presentation of the annual report and audit report and consolidated financial statements and consolidated audit report
8. Resolutions:
   1. the adoption of the income statement and balance sheet and the consolidated income statement and the consolidated balance sheet
   2. the allocation of the Company’s profit or loss according to the adopted balance sheet
   3. discharge from liability of board members and the CEO
9. Determination of fees for the board of directors and auditors
10. Election of the board and auditors
11. Resolution on a directed issue of performance shares
12. Resolution on incentive program for the CEO
13. Resolution on issue authorization for the board of directors
14. Closing of the meeting

PROPOSED RESOLUTIONS

Resolution on the allocation of the Company’s profit or loss according to the adopted balance sheet (item 8 b)
The board of directors proposes that the result for the year be carried forward.

Determination of fees for the board of directors and auditors (item 9)
The shareholder DH Invest AB (the “Shareholder“) proposes a total annual remuneration to the board of directors of SEK 420,000, of which SEK 180,000 to the chairman of the board and SEK 120,000 to each of the other board members appointed by the annual general meeting.

The Shareholder proposes that fees to the auditor, for the period until the end of the next annual general meeting, shall be paid in accordance with approved invoices.

Election of the board and auditors (item 10)
The Shareholder proposes that the number of board members shall amount to three persons with no deputies. The shareholder proposes that the number of auditors shall be one.

The Shareholder proposes to re-elect Eckhard Cordes, Jan Olof Arnbom and Roberto Garcia Martinez as members of the board of directors for the period until the end of the next annual general meeting. The Shareholder proposes that Jan Olof Arnbom be elected chairman of the board of directors.

The shareholder proposes re-election of Baker Tilly MLT Kommanditbolag as auditing firm with the authorized public accountant Stein Karlsen as auditor-in-charge with a term of office until the end of the next annual general meeting.

Resolution on a directed issue of performance shares (item 11)
The board of directors has resolved that the Company’s CEO, Roberto Garcia Martinez, in accordance with his employment contract, shall receive his bonus in the form of performance shares corresponding to 90 percent of his received gross salary during the financial year 2024.

The number of performance shares Roberto Garcia Martinez will be rewarded with has been determined based on the volume-weighted average price (VWAP) of the Company’s shares during the ten trading days preceding the date of publication of the notice of the annual general meeting. Accordingly, the board of directors has decided that Roberto Garcia Martinez shall be rewarded with 37,509,202 performance shares.

In order to complete the delivery of 37,509,202 performance shares, the board of directors proposes that the annual general meeting resolves on a directed share issue to the company Nazgero Consulting Services Ltd, wholly owned by Roberto Garcia Martinez, on the following terms and conditions.

The board of directors proposes that the annual general meeting resolves on a directed share issue of a maximum of 37,509,202 shares, entailing an increase in the share capital by a maximum of SEK 51,323.70. The following terms and conditions shall otherwise apply to the issue.

1. With deviation from the shareholders’ preferential rights, the new shares may only be subscribed for by Nazgero Consulting Services Ltd.
2. The subscription price per share shall amount to SEK 0.11 (corresponding to the volume-weighted average price for the Company’s share on NGM Nordic SME during ten trading days prior to the date of publication of this notice). The share premium shall be transferred to the unrestricted premium reserve.
3. Subscription of the shares shall be made through set-off no later than three weeks from the date on which the annual general meeting resolves on the new share issue. The board of directors has the right to extend the subscription period.
4. Payment for the subscribed shares shall be made by set-off of the claim consisting of the CEO’s bonus determined by the board of directors in accordance with the CEO’s employment contract. The board of directors has the right to extend the time for payment.
5. The new shares entitle to dividend for the first time on the record date for dividend that occurs immediately after the new shares have been entered in the share register.

The reason for the deviation from the shareholders’ preferential rights is the need to be able to pay remuneration to the CEO in a liquidity-efficient manner.

The maximum dilution effect as a result of the new issue of shares proposed under this item 11 amounts to approximately 8,5 percent based on the number of outstanding shares in the Company at the time of this notice.

Roberto Garcia Martinez did not participate in the preparation of the proposal under this item 11.

The resolution requires the approval of shareholders representing at least nine-tenths of both the votes cast and the shares represented at the annual general meeting.

Resolution on incentive program for the CEO (item 12)
The board of directors proposes that the annual general meeting resolves to implement a performance-based incentive program for the Company’s CEO (“LTI 2025“) in accordance with items (a) and (b) below. The purpose of the proposal is to create conditions for retaining and increasing the motivation of the Company’s CEO. The board of directors believes that it is in the interest of all shareholders that such a person, who is deemed to be important for the Company’s development, has a long-term interest in a good value development of the Company. The proposed program creates a long-term ownership commitment, which is expected to stimulate increased interest in the business and earnings development as a whole. The board of directors’ proposal for implementation of LTI 2025 in accordance with items (a) and (b) below constitutes a combined proposal and shall be resolved as one resolution.

(a) Proposal to implement an incentive program for the CEO
The program runs for approximately 3 years and entails that the participant, provided that the performance targets set out below are achieved, is granted the right to acquire shares in the Company free of charge at a subscription price corresponding to the share’s quota value (“Performance Share Rights“). For LTI 2025, the following terms and conditions shall apply:

For LTI 2025, the following terms and conditions shall apply:

1. A maximum of 600,000 Performance Share Rights may be granted within the framework of LTI 2025.
2. LTI 2025 is proposed to include the Company’s CEO, who shall be able to be allotted a maximum of 600,000 Performance Share Rights.
3. Allotment of Performance Share Rights is subject to the participant’s employment or assignment with the Company not having been terminated or cancelled, with certain exceptions for customary “good leaver” situations.
4. The Performance Share Rights shall be allotted to the participant free of charge provided that the performance targets relating to the Company’s strategic initiatives during the term of the program are achieved. The Performance Share Rights vest in equal parts annually. The number of Performance Share Rights vested shall be rounded down to the nearest whole number.
5. Provided that Performance Share Rights have been allotted and vested, each performance share right entitles the holder to, during the period from and including 16 June 2028 up to and including 7 July 2028 in accordance with the restrictions set out in item 3 above and subject to the Company’s determination, either (a) acquire one (1) share at a price corresponding to the quota value of the share (the current quota value is approximately SEK 0.0013 per share) or (b) receive a warrant free of charge entitling to subscribe for one (1) share in the Company at a subscription price corresponding to the quota value of the share.
6. Participation in LTI 2025 is subject to the condition that such participation is legally possible and that such participation can, in the Company’s opinion, take place with reasonable administrative costs and financial efforts.
7. The board of directors shall be responsible for the detailed content of the agreements with the participant and the administration of LTI 2025. In connection therewith, the board of directors shall have the right to make adjustments to meet special rules or market conditions abroad. Furthermore, in extraordinary cases, the board of directors has the right to limit the scope of or prematurely terminate LTI 2025, in whole or in part.
8. The number of shares that each performance share right may entitle to acquire shall be recalculated in the event of a share split, rights issue and similar corporate actions with the aim that the economic value of a performance share right shall not be affected by such events.

(b) Issue of warrants and approval of transfer/disposition of the warrants to the participant and third parties
The board of directors proposes that the Company shall issue a maximum of 788,520 warrants, of which 600,000 warrants shall be issued to ensure delivery of shares or warrants to the participant in LTI 2025 in accordance with the terms and conditions of the program, and 188,520 shall be issued to hedge the Company’s exposure to social security contributions that may arise as a result of the exercise of Performance Share Rights. The share capital may increase by a maximum of SEK 1,078.93.

1. The right to subscribe for the new warrants shall, with deviation from the shareholders’ preferential rights, only be granted to the Company. Onward transfer of 600,000 warrants may be made, on one or more occasions, to the participant in LTI 2025 or otherwise to a third party to deliver shares to the participant, in accordance with the terms and conditions of LTI 2025. Onward transfer of 188,520 warrants may be made to third parties with whom the Company has entered into an agreement in order to raise capital to cover the exposure to social security contributions linked to the exercise of Performance Share Rights.
2. The reason for the deviation from the shareholders’ preferential rights is the introduction of LTI 2025.
3. The warrants are issued free of charge.
4. Subscription of the warrants shall be made within 30 days from the date of the issue resolution. The board of directors has the right to extend the subscription period.
5. The warrants shall entitle the holder to subscribe for shares during a period running from and including 17 June 2028 up to and including 8 July 2028.
6. Each warrant shall entitle the holder to subscribe for one (1) share at a subscription price corresponding to the quota value of the share. Recalculation shall be possible in accordance with the complete terms and conditions of the warrants.
7. The newly issued shares shall entitle to dividend for the first time on the record date that occurs immediately after the subscription for shares through exercise of the warrants has been executed.
8. The warrants shall otherwise be subject to the terms and conditions set out in the complete terms and conditions for the warrants, which will be available on the Company’s website.
9. It is proposed that the board of directors, or a person appointed by the board of directors, be authorized to make such minor adjustments as may prove necessary in connection with the registration of the resolution with the Swedish Companies Registration Office.

Costs and dilution
The maximum dilution for existing shareholders as a result of LTI 2025, including warrants that may be issued as a result of hedging measures due to exposure to social security contributions that may arise, is 0.18 percent of the total number of shares in the Company. The dilution has been calculated as the number of additional shares in relation to the existing number of additional shares. The Performance Share Rights will be expensed as personnel costs over the vesting period, without impact on the Company’s cash flow. If Performance Share Rights are exercised, LTI 2025 will also entail costs in the form of social security contributions. The total costs for social security contributions depend partly on the participant’s employment relationship, partly on how many Performance Share Rights are vested, and partly on the value of the benefit that the participant ultimately receives, i.e. the value of the Performance Share Rights at exercise in 2028. Social security contributions will be expensed in the income statement during the vesting period. The Company intends to hedge for the entire exposure to social security contributions through an issue of warrants in the manner set out in the board of directors’ proposal in accordance with item (b) above, which may be exercised by a financial intermediary in connection with the exercise of the Performance Share Rights. If the Company chooses to implement such hedging measures, the social security contributions will not affect the Company’s cash flow. Based on the assumption that all Performance Share Rights included in LTI 2025 will vest, an assumed share price of SEK 1 at the time of exercise of the Performance Share Rights and an assumed average social security contribution percentage of approximately 31.4 per cent, the annual costs for the program, including social security contributions, are estimated to amount to approximately SEK 262,840, which corresponds to approximately 6.5 percent of the Company’s total annual salary costs for employees (including social security contributions) calculated on salary costs for the financial year 2024.

Information about other ongoing incentive programs
Information about the Company’s other ongoing incentive programs is set out in the Company’s annual report for the financial year 2024.

Preparation of the proposal
The board of directors has prepared LTI 2025 in consultation with external advisors. Roberto Garcia Martinez has not participated in the preparation of LTI 2025.

Majority requirements
The resolution requires the approval of shareholders representing at least nine-tenths of both the votes cast and the shares represented at the annual general meeting.

Resolution on issue authorization for the board of directors (item 13)
The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board of Directors, during the period until the next Annual General Meeting, to resolve on the issue of a maximum number of shares, convertibles and/or warrants that entitle to subscription of, or entail the issue of, a maximum number of shares within the limits of the Articles of Association, with or without deviation from the shareholders’ preferential rights. The authorization may be exercised on one or more occasions and the Board of Directors shall have the right to decide on the detailed issue terms on each individual occasion. In addition to cash payment, payment may also be made with consideration other than in cash or by set-off, or otherwise with conditions.

In order for the Company’s current shareholders not to be disadvantaged in relation to the external investor or investors who may subscribe for shares in the Company, the Board of Directors considers it appropriate that the issue with deviation from the shareholders’ preferential rights shall be made at the Board’s market-based subscription price, subject to a market-based issue discount where applicable.

A valid resolution requires that it has been supported by shareholders representing at least two-thirds of both the votes cast and the shares represented at the Annual General Meeting.

Shareholders’ right to receive information
The board of directors and the CEO shall, if any shareholder so requests and the board of directors considers that it can be done without material harm to the Company, provide information on circumstances that may affect the assessment of an item on the agenda, circumstances that may affect the assessment of the Company’s or its subsidiaries’ financial situation and the Company’s relationship with other group companies.

Documents
Documents according to the Swedish Companies Act will be made available for shareholders at the Company and on the Company’s website in accordance with the above no later than three weeks before the annual general meeting. All of these documents will also, without charge, be sent to shareholders who so request and state their address.

Processing of personal data
For information on how personal data is processed in connection with the annual general meeting, please see the privacy policy available on Euroclear Sweden AB’s website, https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

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Stockholm in May 2025
Eurobattery Minerals AB
The Board of Directors

The Company´s auditor Baker Tilly has, due to a delay with the audit processes in the subsidiaries, asked for more time to perform the audit and to postpone the publication of the Annual Report. The new release date for the Annual Report 2024 is Monday 9 June 2025.

Due to the delay in the publication of the Annual Report 2024, the AGM also has to be suspended. The original date for the AGM was 17 June. The Annual General Meeting will now instead be held on Monday 30 June 2025.

Number of shares and share capital
Through the new share issue the Company will receive gross proceeds of approximately SEK 6.4 million before issue costs of approximately SEK 0.2 million. The number of shares will increase by 70,888,253 shares, from 365,417,921 shares to 436,306,174 shares, when the new shares are registered by the Swedish Companies Registration Office. The share capital will increase by approximately SEK 96,996.14, from SEK 500,000.00 to approximately SEK 596,996.14, which implies a dilution of approximately 16.2 per cent.

Advisers
Augment Partners AB acted as the financial advisor to the Company in connection with the transaction.

“In today’s increasingly volatile world—with rising geopolitical tensions and a global race for critical raw materials—Europe cannot afford to stand still while nearly every nation advances its clean energy transition and strengthen their defence sector. If we want mining to happen here in Europe, we must address three fundamental issues: faster permitting processes, harmonized and stable EU regulations, and significantly more financing. True that money isn’t everything, but without it, nothing moves forward. Finally, we must shift public perception by showing that modern, responsible mining is essential for the green transition and Europe’s strategic autonomy. Optimized environmental protection can only be achieved if we have full control over project implementation—and this can only be achieved in Europe. In this context, continued access to capital through instruments like our TO6 warrants is not just helpful—it is vital to move projects like Hautalampi into production and help secure Europe’s raw material future,” says Roberto García Martínez, CEO of Eurobattery Minerals AB.

Strategic and operational highlights during Q1-2025

• January: We announced that the Hautalampi battery mineral mine could be part of a regional pilot project for carbon capture and storage in hardened backfill of the mine.
• March: Our Finnish subsidiary signed a LOI with ABB to develop innovative, sustainable mining solutions via electrification, instrumentation, automation, and digitalization (EIAD) to improve efficiency, safety, and environmental performance.
• March: Eurobattery Minerals submitted, via its subsidiary FinnCobalt Oy, an application for the ERMA Booster Call 2025 – a funding initiative by EIT RawMaterials aimed at boosting Europe’s raw materials resilience. The program offers up to €2.5 million for mining projects.
• March: Eurobattery Minerals announced that its Hautalampi project in Finland had been independently recognized as the fifth-largest undeveloped cobalt project in the Nordics, with 7,840 tons of contained cobalt. The project also holds significant copper resources, totalling 17,700 tons, which puts it on the Top 20 List for undeveloped copper project.

Key financial figures for Q1-2025

• Net sales amounted to SEK 0 thousand (Q1 2024: SEK 0 thousand).
• Operating profit/loss after financial items totalled SEK -2,946 thousand (Q1 2024: SEK -4,551 thousand)

• Earnings per share after financial items before dilution amounted to SEK -0.01 (Q1 2024: SEK -0.11).
• Earnings per share after financial items after dilution amounted to SEK -0.01 (Q1 2024: SEK -0.04).
• Cash flow from operating activities was SEK -335 thousand (Q1 2024: SEK -7,960 thousand).

Detailed financial information
The Interim Report for the period January-March 2025 from Eurobattery Minerals AB is available for download at the Company’s website and can be viewed in the attachment of the release (see below).