Eurobattery Minerals’ subsidiary FinnCobalt and ABB sign agreement to advance sustainable mining solutions with EIAD

Stockholm, 5March 2025 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “Eurobattery Minerals” or the “Company”) announces that its wholly owned subsidiary FinnCobalt Oy (“FinnCobalt”) today has signed a Letter of Intent (LOI) with ABB Oy (“ABB”) to advance sustainable mining solutions with innovative technological solutions for electrification, instrumentation, automation, and digitalization (EIAD).

ABB Oy, a global technology leader in electrification and automation, and FinnCobalt Oy, a key player in the mining industry and part of Eurobattery Minerals AB, have signed a LOI as a first step to collaborating on a transformative project aimed at revolutionizing mining practices through EIAD.

A transformative vision for mining

Both ABB and FinnCobalt share an intention to:

• Develop an engineering, technical, and delivery framework for future mining operations.
• Leverage EIAD technologies to enhance operational efficiency, safety, and environmental sustainability.
• Establish the foundation for a potential Supply Agreement, which would mark a long-term collaboration.

“This partnership embodies our vision to redefine mining through cutting-edge technology while maintaining a steadfast commitment to sustainability and innovation,” said Roberto García Martínez, CEO of Eurobattery Minerals.

Scope of Works

ABB will deliver a pre-study and technological evaluation covering key EIAD areas:

• Electrification: Including network calculations, compensation studies, and auxiliary power evaluations.
• Automation: Encompassing engineering rules, system diagrams, and cybersecurity solutions.
• Digitalization: Creating detailed database and system descriptions tailored for mining.
• Instrumentation: Standardizing monitoring equipment for accuracy and reliability.

Actionable insights and recommendations will enable FinnCobalt to integrate advanced technologies seamlessly into its mining operations.

At the forefront of responsible mining

“Our partnership with ABB will set a new industry standard by combining technological innovation with our sustainability objectives,” said Ilari Kinnunen, Managing Director of FinnCobalt. “Together, we strive to create a mine that sets a new benchmark for responsible and sustainable resource extraction worldwide.”

"ABB is excited to collaborate with FinnCobalt on this important initiative which reflects our joint commitment to sustainability. We believe our combined expertise can pave the way for a more responsible and productive future for mining operations. We look forward to successfully working together”, said Fredrik Grankull, Local Business Line Manager, ABB Process Industries in Finland.

About EIAD in the mining industry

Technologies related to electrification, instrumentation, automation, and digitalization are reshaping the mining industry, offering benefits such as reduced environmental impact, enhanced worker safety, and improved operational efficiency. Through this collaboration, ABB and FinnCobalt – part of Eurobattery Minerals – aim to demonstrate the value of integrating EIAD solutions into mining, ensuring both profitability and sustainability.

About ABB

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB).

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 realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, by doing so, power a cleaner world.

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

Contacts

Roberto García Martínez – CEO

E-mail: info@eurobatteryminerals.com

Contact investor relations

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