Stockholm, 7 December 2022 – SRH AlsterResearch's analysts have initiated coverage of Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: "EBM", "Eurobattery" or "the Company"). The independent analysts have issued a speculative BUY recommendation with a price target of SEK 12.25 for the shares of the junior miner focused on the responsible mining of battery minerals. At the current share price of SEK 4.73, this corresponds to a price potential of 159%. The corresponding euro target price is EUR 1.12 based on an exchange rate of EUR 0.0918 per SEK (current share price: EUR 0.43). The assessment is based on EBM's good positioning to benefit from the rapidly increasing demand for minerals such as nickel, cobalt or copper, which are essential for the electrification of the global Automobile industry. EBM will be able to meet this demand thanks to the high forecast mineral deposits.

The calculation of the target price is based on a post money valuation, taking into account the current capital increase of up to SEK 50 million, which is intended to increase the Company´s stake in the main resource Hautalampi. The analysts' valuation so far only takes into account the existing 40% share in Hautalampi. The expansion of the shareholding expected during the capital measure consequently offers further upside potential.

In its initial study, AlsterResearch highlights that EBM's projects are located exclusively in tier-1 countries such as Sweden, Finland and Spain. Ethical, traceable, and environmentally friendly aspects make EBM an ideal ESG-compliant investment and complete the analysts´ overall positive outlook. Moreover, EBM has a strong track record of increasing mineral estimates of flagship projects. This reflects well on the quality and assessment capability of EBM's Management. A contributing factor to the analysts' positive assessment is the fact that EBM's main resources at Hautalampi, Finland, are categorized as "measured resources" with a probability greater than 90% of resource availability and purity, and these have already reached the feasibility stage. This sets EBM apart from other mining companies that have less mature and therefore less probable mining resources.

The detailed research study is available for download on the Eurobattery Minerals AB website under the following link:

https://eurobatteryminerals.com/pdf/alsterresearch-initiation-eurobattery-minerals.pdf.

About AlsterResearch AG

AlsterResearch AG is an independent equity research house that focuses on the analysis and marketing of listed German and selected European stocks. The entire coverage of nearly 100 companies can be accessed freely via the digital ResearchHub (www.research-hub.de). The target groups are in particular boutique funds, family offices and independent money managers in Germany and abroad, which are nowadays cut off from professional research due to regulations such as MiFiD II.

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, 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.

Contact Eurobattery Minerals AB

Roberto García Martínez – CEO

Email: info@eurobatteryminerals.com

Contact Investor Relations

Sara Pinto

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

Email: ir@eurobatteryminerals.com

Mentor

Augment Partners AB is the mentor to Eurobattery Minerals AB

Phone: +46 (0) 86 042 255

Email: info@augment.se.