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22 December, 2022

Eurobattery Minerals’ rights issue subscribed to approximately 56 per cent – the company will receive approximately SEK 27.5 million

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Stockholm, 22 December 2022 – Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: "Eurobattery" or the "Company") has completed the rights issue of units with subscription period between 7 December and 21 December 2022 (the "Rights issue"). The Rights issue has been subscribed to approximately 56 per cent and the Company will receive approximately SEK 27.5 million before deduction of issue costs. The subscription price in the Rights issue was SEK 3.00 per unit, where one unit consisted of one new share and one warrant free of charge. Approximately SEK 25.2 million, corresponding to approximately 51 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with unit rights. Approximately SEK 2.3 million, corresponding to approximately 5 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed without unit rights. The outcome implies that no underwriting commitments will be claimed, and that the over-allotment issue of a maximum of SEK 15.0 million will not be utilised. The proceeds from the Rights issue will be used for partial repayment of an outstanding convertible, finalisation of the acquisition of all shares in FinnCobalt Oy and for further investments in the Corcel and Hautalampi projects.

Through the Rights issue the Company will receive gross proceeds of approximately SEK 27.5 million. The number of shares will increase by 9,172,102 shares, from 16,522,237 shares to 25,694,339 shares, when the new shares are registered by the Swedish Companies Registration Office in the beginning of January 2023. The share capital will increase by SEK 9,172,102, from SEK 16,522,237 to SEK 25,694,339, which implies a dilution of approximately 35.7 per cent. When the registration has occurred at the Swedish Companies Registration Office, paid subscribed units (BTU) are converted into shares and warrants. In total, 12,505,435 warrants of series TO3 will be registered (including the 3,333,333 warrants issued to Formue Nord Fokus A/S as communicated in an earlier press release on 31 October 2022), which entitle the holder to subscribe for one new share in the Company per exercised warrant during the period between 20 March and 31 March 2023. If all warrants of series TO3 are exercised, the Company’s shares will be diluted by an additional approximately 32.7 per cent.

Allocation of units subscribed without unit rights has been carried out in accordance with the allocation principles stated in the prospectus, which has been prepared in connection with the Rights issue and was published on 5 December 2022. Notice of allocation of units subscribed without unit rights will be sent to those allotted units today on 22 December 2022. Subscribed and allotted units must be paid for in cash, and the payment must be received by Aqurat Fondkommission AB on the settlement date, 27 December 2022, at the latest, according to instructions on the settlement note. No message is sent to those that have not been allotted any units.

Disclaimer

This information is of the kind that the Company is required to disclose in accordance with the EU's Market Abuse Regulation. The information was issued for publication through the agency of Roberto García Martínez, CEO of Eurobattery Minerals AB, on 22 December 2022 at 17:00 CET.

Advisers

Augment Partners AB acted as financial adviser and Bird & Bird Advokat KB acted as legal adviser in the transaction.

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 to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realise numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.

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

For more information, please contact

Roberto García Martínez – CEO

E-mail: info@eurobatteryminerals.com

Contact Investor Relations

Sara Pinto

Phone: +49 (0) 89-1250903-35

E-mail: ir@eurobatteryminerals.com

Mentor

Augment Partners AB is the mentor to Eurobattery Minerals AB

Phone: +46 (0) 86 042 255

E-mail: info@augment.se

IMPORTANT INFORMATION

Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.

This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.

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