In the interview, Roberto García Martínez explains what the new investment in the Spanish mining company Tungsten San Juan S.L. means for the Company and what milestones to expect for the new project and Eurobattery Minerals in general. Roberto García Martínez also highlights the importance of tungsten mining in Europe and what the regulatory shifts in the form of the EU Critical Raw Materials Act means for Eurobattery Minerals.

The ongoing Rights Issue in brief

• Anyone who was registered as a shareholder in Eurobattery Minerals on the record date August 21, 2025, received 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 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. Please note that certain nominees, banks and custodians may have an earlier response deadline for subscription of units in the Rights Issue. Shareholders with nominee-registered holdings are therefore advised to check with their nominee, bank or custodian if they have an earlier response deadline.
• 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.

Preliminary timetable for the Rights Issue

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 has instead prepared and published an information document in accordance with what is prescribed in Annex IX of the Prospectus Regulation.

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' and Börse Stuttgart’s rules.

During the presentation, Roberto García Martínez, CEO of Eurobattery Minerals, provided an introduction to the Company and a project update, described the market dynamics for strategic raw materials, and answered questions from the public.

The ongoing Rights Issue in brief

• Anyone who was registered as a shareholder in Eurobattery Minerals on the record date August 21, 2025, received 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 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. Please note that certain nominees, banks and custodians may have an earlier response deadline for subscription of units in the Rights Issue. Shareholders with nominee-registered holdings are therefore advised to check with their nominee, bank or custodian if they have an earlier response deadline.
• 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.

Preliminary timetable for the Rights Issue

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 has instead prepared and published an information document in accordance with what is prescribed in Annex IX of the Prospectus Regulation.

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' and Börse Stuttgart’s rules.

The material with the wolfram ore will be shipped to a test facility in Madrid and will now undergo a series of testwork including classification, crushing, and grinding, followed by a battery of further metallurgical tests, among them shaking table tests, over a four-week period.

”Things are advancing fast at our wolfram project in Galicia,” said Roberto García Martínez, CEO of Eurobattery Minerals. He continued: “The collaboration with AMP ensures that we will have access to state-of-the-art processing solutions tailored to our specific ore and operational conditions.”

The test results will form the basis for AMP’s design of a customised, turnkey pilot processing plant for the San Juan project. AMP is expected to deliver its pilot plant proposal in Q4-2025, with a final investment decision anticipated in before the end of the year. The turnkey delivery of the pilot plant is scheduled for Q3-2026.

“Sending this material for final testing is not just a technical step — it is part of our broader commitment to responsible project development. Working with AMP allows us to design a pilot plant that is not only efficient but also tailored to minimise environmental impact, in line with our vision for a modern, responsible mining operation in Galicia,” said Agne Ahlenius, Managing Director of Tungsten San Juan.

About Advanced Mineral Processing (AMP)
Advanced Mineral Processing S.L. (AMP) is a Spanish engineering company specialising in process engineering, plant design, and system development for the treatment of mineral ores, industrial minerals, aggregates, and raw materials for various sectors, including metallic mining and recycling. AMP is internationally recognised for its efficient and innovative engineering solutions, with decades of experience in projects across the globe.

Archaeological control and monitoring are being conducted by an accredited Galician firm specializing in scientific archaeological projects in both rural and urban settings.

Upfront the firm has conducted a study based on historical archives and visits to the concession areas, with the aim of evaluating the possible existence of archaeological remains in the vicinity of the project area.

“At Eurobattery Minerals, we work to the highest European standards, ensuring that every step of our projects complies with mining, environmental, and cultural heritage legislation. Our goal is to develop crucial resources for Europe in the most responsible way, protecting both the natural environment and the historical heritage of the communities where we operate,” says Roberto García Martínez, CEO of Eurobattery Minerals.

Although no areas of archaeological interest have been identified within the current mining concession, Eurobattery Minerals and Tungsten San Juan value the importance of identifying, protecting, and documenting archaeological heritage as part of their commitment to responsible and sustainable development.

“Collaborating with local experts demonstrates our proactive approach to respecting Galicia's cultural and historical environment. We want to make a positive contribution to the local community, beyond the strictly legal and technical requirements," says Agne Ahlenius, Managing Director of Tungsten San Juan, a subsidiary of Eurobattery Minerals.

Archaeologists from the local firm in Ourense are also expected to be present during the initial clearing work and the initial removal of the topsoil. This approach will allow careful observation of the terrain to identify possible findings without compromising its integrity.

The accredited archaeological firm has submitted the first technical project with a recommendation program for control and monitoring during the upcoming months, in compliance with regional and national regulations for heritage protection.

This first technical program has already been submitted to the local government, Xunta de Galicia. Eurobattery Minerals continues to progress as planned toward the start of tungsten production in the fourth quarter of 2026, integrating sustainability, safety, and social responsibility criteria into all phases of the San Juan tungsten project.

TSJ has engaged a local, experienced contractor from the Ourense region to perform the earth movements in the mine. With previous experience in mining projects, the local company complies with the strictest occupational health, safety, and environmental regulations.

“As part of our local content policy, we are committed to hiring regional service providers and contractors whenever possible, ensuring that the San Juan project delivers tangible benefits to the local economy and community. We are pleased to collaborate with a skilled local contractor and proud to contribute to regional development as we move closer to responsible tungsten production in Europe,” said Roberto García Martinez, CEO of Eurobattery Minerals.

The work in the mine includes improvement of the infrastructure as well as stripping of waste and ore material, using excavators and trucks. The work in the open pit mine is conducted without the necessity of using blasting, thanks to the soft characteristics of the rock. This marks the beginning for tungsten production, scheduled to commence in Q4 2026.

“Starting the work in the mine with a trusted local partner reflects our commitment to both responsible mining and local engagement. The proximity sourcing policy is a core pillar of our work here at TSJ. This is an important project for Ourense, for Galicia, and Europe, so I am really excited to get things going!” said Agne Ahlenius, Managing Director of TSJ.

The San Juan mine is located near the town of A Gudiña, in the province of Ourense in Galicia, Spain. The first proven ore reserves, that have been confirmed by core drilling at the San Juan project, are an estimated 60,000 tons of ore. The tungsten (WO3) grade is high – 1.3% – contributing to the project's economic viability.

The Company has signed Agne Ahlenius, a senior mining executive with more than 35 years of international experience in mine development and operations, to head the San Juan project. His proven track record across both underground and open-pit mines and his outstanding reputation as a leader in sustainable mining will be pivotal to the success of the San Juan wolfram mine.

Mr. Ahlenius has held top-level positions in leading Spanish and international mining operations, including roles such as Mine Manager at Boliden AB, Operations Manager for MATSA in Spain, and CEO at Lundin Mining for Zinkgruvan Mining AB in Sweden. He holds a Master of Science in Mining Engineering from Luleå University of Technology, Sweden.

Most recently, Mr. Ahlenius served as COO and later CEO of the Barruecopardo mine in Spain, a benchmark for responsible and sustainable mining practices within the EU. The project was awarded “The 2024 SME of the Year Award” in Salamanca, something that recognizes its economic contribution, sustainability, and export focus.

Under Mr. Ahlenius´ leadership, the Barruecopardo mine:

• Achieved top environmental and safety standards under EU directives.
• Implemented clean technologies (e.g. environmentally friendly ore separation and closed water circuits).
• Improved mine operations, reducing costs by over 25%.
• Recorded zero lost-time injuries (LTI) over more than two years.
• Contributed to the revitalization of the local region, generating over 200 jobs (80% local), contributing to community initiatives, and receiving national awards for sustainability and economic impact.

Mr. Ahlenius brings a unique blend of Nordic precision and Iberian insight. A Swedish national, he has been living and working in Spain for over 25 years, deeply embedded in the country’s mining sector, regulatory framework, and local culture. He is fluent in Spanish (apart from speaking three other languages) and he brings extensive experience in working with the Spanish administration at all levels – national, regional (autonomous communities), and local – and has deep knowledge of the administrative procedures related to mining projects. This gives him the perfect vantage point to lead the San Juan project in line with both Swedish and Spanish values — safety, transparency, social responsibility, and long-term thinking.

“Agne´s extensive experience, local understanding, and sustainability-driven leadership make him the perfect person to take our San Juan project into the next phase,” said Roberto García Martínez, CEO of Eurobattery Minerals. “This appointment is a cornerstone in our strategy to provide responsibly mined critical raw materials from Europe for Europe — with a strong focus on environmental care, positive community impact, and long-term shareholder value.”

The San Juan wolfram project is set to begin pre-operational work in July 2025, with production scheduled for H2 2026. Eurobattery Minerals recently proposed a SEK 78.5 million rights issue to fund the majority stake acquisition in the project and further develop its battery mineral assets in Finland.

The Company has also signed a Letter of Intent for an offtake agreement with Wolfram Bergbau und Hütten AG, the Austrian tungsten producer owned by Swedish Sandvik Group, underscoring the project’s strategic European alignment.

Agne Ahlenius said: “I am genuinely excited to join Eurobattery Minerals and lead the San Juan project at this pivotal time. Europe urgently needs responsibly sourced raw materials to secure its green transition and industrial resilience. I strongly believe that mining can — and must — be done in a way that respects people, nature, and future generations. At San Juan, we will focus on creating long-term value not just for shareholders, but also for the local community through job creation, environmental stewardship, and transparent, sustainable practices. This is what a social licence to operate looks like — and I am proud to help build it here in Galicia.”

This appointment reflects Eurobattery Minerals’ commitment to building local trust and social licence to operate, while ensuring that Europe's green transition is powered by traceable, responsible, and locally sourced raw materials. By building on Mr. Ahlenius proven track record from the Barruecopardo project — widely recognised as a benchmark for sustainable mining in Spain — we aim to raise the bar even further and deliver excellence across all aspects of the San Juan wolfram project.

A more detailed presentation of Agne Ahlenius and his background is attached as a PDF to this press release.

"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.