Extraordinary general meeting
The Board intends to convene an extraordinary general meeting, which is expected to be held in the second half of November 2026. The Board intends to include the following items on the agenda: the election of new board members and a new auditor, and the composition of the Board as a whole. The complete agenda will be published in the notice of the meeting.

Following the resignation of the Chairman of the Board, Jan-Olof Arnbom, on 21 September 2026 with immediate effect, the Board consists of two members, which is below the minimum set out in the Company's articles of association. The Company's auditor resigned on 2 October 2026. The general meeting is intended to restore a complete Board and ensure the Company has an auditor in place.

Measures taken since 19 September 2026
Board member Eckhard Cordes leads the Board's handling of all matters relating to the CEO, Roberto García Martínez. Mr García Martínez does not take part in these matters.

At FinnCobalt Oy, Jan-Olof Arnbom also resigned from his position as a deputy board member on 12 October 2026 with immediate effect. Ville Salonen was appointed as a deputy board member on 14 October 2026, and Mattias Modén, Financial Controller of Eurobattery Minerals, was appointed as a board member on 19 October 2026. Registration with the Finnish Trade Register is in progress. Roberto García Martínez will continue to serve on the board of FinnCobalt Oy as its chairman until the extraordinary general meeting of Eurobattery Minerals, following which the composition of the board will be reassessed. Day-to-day management of the Hautalampi project remains with Ilari Kinnunen, Managing Director of FinnCobalt Oy.

Comment on NGM's notification on disciplinary proceedings
On 20 October 2026, the Company announced that NGM has notified the Company that it intends to submit the question of delisting the Company's shares to its disciplinary committee. The Company is reviewing the circumstances and will be heard in the disciplinary proceedings. The Company will cooperate fully with NGM throughout the proceedings. Further information will be disclosed in due course in accordance with applicable rules.

For further information, please refer to Eurobattery Minerals AB:
ir@eurobatteryminerals.com

Language versions
Eurobattery Minerals AB publishes information in various languages for the convenience of our shareholders and stakeholders. In the event of any discrepancies or inconsistencies between the language versions, the English version shall prevail.

About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision of making Europe self-sufficient in responsibly mined minerals, the Company focuses on developing mining projects in Europe to supply critical raw materials, strengthening Europe’s security of supply and supporting the sustainability transition.

Please visit eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn as well.

For further information:
Eckhard Cordes, Board member
info@eurobatteryminerals.com

The Board of Directors will propose a new auditor for election at an extraordinary general meeting. A notice convening the meeting will be published separately.

The procedure follows a communication received by Tungsten San Juan from the Concello da Gudiña, requiring the temporary suspension of mining activities as part of the administrative proceedings relating to the extractive operation. The measure reflects the Company’s commitment to strict compliance with its legal and regulatory obligations, ensuring that all its activities are carried out in accordance with the requirements established by the competent authorities.

Tungsten San Juan and Eurobattery Minerals will continue to cooperate with the Concello da Gudiña and the other relevant authorities throughout the administrative procedure, providing the information and documentation required and responding to requests from the competent authorities.

The Company will continue to keep the market informed of any material developments relating to the procedure.

The Company will continue to inform the market in accordance with applicable stock market rules.

The Company will continue to inform the market in accordance with applicable stock market rules.

The judgment was subsequently reviewed by the Tribunal Supremo (Supreme Court of Spain), which rendered its judgment on 21 January 2026, and is final. The sentence includes two years’ imprisonment, a fine, and joint and several liability for damages of USD 3.46 million.

A subsequent enforcement decision by the Provincial Court of Bizkaia dated 21 April 2026, as confirmed by a final order dated 29 May 2026, suspended the enforcement of the prison sentence for a probationary period of five years. The suspension is subject to conditions, including monthly payments during the suspension period and payment of 60 per cent of the civil liability amount into the court’s account by the end of that period. Failure to comply with the conditions may result in revocation of the suspension and enforcement of the custodial sentence. The remaining findings of the judgment remain in force.

The Company has furthermore received information that the Swedish Economic Crime Authority (Ekobrottsmyndigheten) has served notice of suspected criminal conduct on Roberto García Martínez in respect of three counts of aggravated insider dealing relating to transactions in the Company’s financial instruments.

The Board is investigating the situation and considering appropriate measures. The Company will provide further information in due course.

The completion of the basic engineering provides the technical foundation for the next phase of project execution. In parallel, the Company has placed orders for the main process equipment, with manufacturing already underway at international suppliers to the mining industry. The placed orders represent an investment of several million euros, covered by financing already available for the project.

This progress builds on the project’s established regulatory foundation. San Juan has a 30-year extension to its mining licence, valid until 2055, providing long-term regulatory stability.

“The completion of the basic engineering and the start of manufacturing of the main equipment mark a decisive step for San Juan. We are no longer talking only about planning: we are moving towards project execution. We have selected internationally recognised manufacturers and are now moving forward with the key components of the future plant. The objective is clear: to move towards tungsten production in Europe and contribute to strengthening the security of supply of a strategic raw material for our industry,” says Roberto García Martínez, CEO of Eurobattery Minerals.

The main equipment for the crushing section has been awarded to an international manufacturer of technologies for the mining industry. The equipment for the grinding plant has been ordered from a manufacturer specialising in large-scale equipment for mining and heavy industry, which will manufacture the equipment at its facilities in Galicia.

The Company has also advanced the procurement of equipment for the gravity concentration circuit. The shaking tables and concentration spirals have been ordered from two international manufacturers specialising in this type of equipment. This is conventional gravity concentration technology, consistent with the results of metallurgical testwork conducted on San Juan ore.

In addition, Tungsten San Juan has completed the technical and commercial negotiations for the remaining equipment that will form part of the processing plant, including screens, hydrocyclones, thickeners, tanks, pumps, pump boxes and other auxiliary equipment. Final awards for these supplies will be made shortly, taking into account criteria including performance, operational reliability and safety.

“Receiving the final basic engineering report and starting the manufacturing of the main equipment are important steps for the project. At this stage, we are moving from engineering into execution, ensuring that the different equipment packages and plant systems are properly defined and coordinated. Our objective is to move forward in a structured way, with a continued focus on quality, safety and the efficiency of the future operation,” says Pedro Jiménez de Francisco, Project Director of Tungsten San Juan S.L.

Tungsten is a strategic raw material for Europe, with applications in sectors including defence, aerospace, energy, advanced manufacturing and other industrial technologies. Europe is highly dependent on imports and supply is highly concentrated: according to Eurostat, in 2025 China accounted for 68% of the value of European imports of ferrotungsten, followed by Vietnam with 21% and Kazakhstan with 8%*. Together, these three countries accounted for 97% of external supplies of this material to the EU, highlighting the importance of developing European sources of supply.

*Source for ferrotungsten data: Eurostat (Statistics Explained); https://ec.europa.eu/eurostat/statistics-explained/index.php?title=International_trade_in_critical_raw_materials

Forward-looking statements
This press release contains forward-looking statements. Such statements are based on the Company’s current expectations and assumptions and are subject to risks, uncertainties and other factors that could cause actual results or developments to differ materially from those expressed or implied by the forward-looking statements.

The programme, carried out between April and July 2026 in consultation with Minepro Solutions, aimed to determine the concentrate grade and tungsten recovery achievable through conventional gravity concentration.

The tests conducted by SLR Consulting were performed exclusively using a gravity-based circuit. No flotation, no chemical separation reagents and with conventional off-the-shelf equipment.

Main results

The tested circuit, comprising hydrocyclone desliming, spiral concentration, a scavenging stage and a cleaning stage, recovered 49.9% of the tungsten contained in the feed into a concentrate mass equivalent to 0.7% of the original feed. All equipment used is conventional and commercially available: hydrocyclone, spirals, shaking tables and thickener.

Pedro E. Jiménez de Francisco, Project Director of Tungsten San Juan S.L., comments:
“The work programme carried out by SLR has enabled us to thoroughly characterise the behaviour of the ore through an extensive programme of metallurgical tests and mineralogical studies specifically designed to support the engineering and project definition phases.

The results obtained by SLR have been highly satisfactory and not only confirm the significant potential of the deposit but also provide a rigorous technical basis for the design of the future processing plant, allowing key process parameters to be validated and the planned configuration for the different stages of ore treatment to be optimised. This information represents an essential step in reducing technical risks and defining an efficient and competitive processing strategy.”

Market benchmark*
For comparison purposes, the metallurgical parameters published by operating tungsten mines and by projects with an available feasibility or prefeasibility study are presented below. All assets with publicly available data are included, without selection.

Grades expressed in WO3. The last column is the product of grade and recovery, i.e. the tungsten recovered per tonne of ore treated. The figures for operating mines are taken from quarterly reports; those for projects are taken from published feasibility and prefeasibility studies.

Roberto García Martínez, CEO of Eurobattery Minerals AB, comments:
“These results confirm what we have stated about the San Juan project: it is a deposit that can be concentrated by gravity, using standard equipment and without separation chemistry. This means a plant that is simpler to build, less expensive to operate and has a significantly lower environmental footprint than a project requiring flotation.

It is the best possible starting point for detailed engineering and the next phase of the project.”

Next steps
The next steps for the project will be to advance the detailed engineering, plant construction and commissioning in 2027.

About Tungsten San Juan
Tungsten San Juan S.L. is the owner of the San Juan tungsten project, located in the municipality of A Gudiña, in the province of Ourense, Galicia, north-western Spain. More information about the project at: https://tungsten-sanjuan.com/en/inicio-english/

*Sources for the market benchmark:

• EQ Resources Limited, Quarterly Activities Report for the quarters ended 30 September 2025 and 31 March 2026.
• Almonty Industries Inc., Annual Information Form, dated 18 March 2026, and NI 43-101 Technical Report on the Mineral Resources and Reserves of the Sangdong Project, South Korea, dated 23 June 2025, effective 28 February 2025.
• Abenójar Tungsten S.A., El Moto Tungsten Project Bankable Feasibility Study – Executive Summary, effective 31 October 2024.
• Tungsten Mining NL, Mt Mulgine Pre-Feasibility Study Results, ASX announcement, 29 January 2021.

**The data for the San Juan tungsten project are based on a laboratory test conducted on a bulk sample from the project and are not directly comparable with the performance of an industrial plant in continuous operation. The upper end of the recovery range will be determined by the plant enrichment operation.

"The second quarter of 2026 has been about disciplined execution. We have strengthened our financial position, increased our ownership in the San Juan tungsten project and reinforced our organisation with highly experienced mining professionals. These are not isolated milestones—they are deliberate steps that strengthen the project and bring San Juan closer to production. Europe has made securing domestic raw materials a strategic priority. Our responsibility now is to deliver,” comments Roberto García Martínez, CEO of Eurobattery Minerals.

Strategic and operational highlights Q2 2026

• Secured financing for continued project development: Eurobattery Minerals secured a convertible bond facility of up to SEK 60 million, providing financial flexibility to continue the development of the San Juan tungsten project and the Hautalampi battery mineral project.

• Strengthened the San Juan project organisation: During the quarter, Pedro Jiménez de Francisco was appointed Project Director and, at the very end of the reporting period, Alba Valle Pajares joined as Technical Manager (Directora Facultativa), significantly strengthening the project's operational execution capacity.

• Increased ownership in Tungsten San Juan: Eurobattery Minerals increased its ownership in Tungsten San Juan S.L. from 51 per cent to 58.58 per cent through the capitalisation of shareholder loans, reinforcing its commitment to the project.

• Continued permitting progress at Hautalampi: Following a request for supplementary information from the Finnish permitting authority, the Company continued working closely with the authorities to advance the environmental permitting process for the Hautalampi battery mineral project.

• Strengthened commitment to responsible mining: FinnCobalt joined the EU-funded EUMINDA initiative, contributing to knowledge exchange on mine closure, restoration and long-term environmental management.

Key financial figures for Q2 2026

• Net sales amounted to SEK 0 thousand.
  (Q2 2025: SEK 0 thousand)
• Operating profit/loss after financial items totalled SEK -3,855 thousand.
  (Q2 2025: SEK -8,366 thousand)
• Earnings per share after financial items before dilution amounted to SEK -0.004.
  (Q2 2025: SEK -0.10)
• Earnings per share after financial items after dilution amounted to SEK -0.004.
  (Q2 2025: SEK -0.08)
• Cash flow from operating activities was SEK -2,691 thousand.
  (Q2 2025: SEK -10,250 thousand)

Detailed financial information
The Interim Report for the second quarter of 2026 is available for download at the Company’s website and can be viewed in the attachment of the release (see below).