Chosen Solution
After searching various places including iFixit, I cannot find any information about replacing the PRAM/NVRAM battery in the mid-2011 Intel iMac 27” (iMac 12,2 … EMC 2429). Does this model even have a replaceable PRAM/NVRAM battery?
Why are you worried about this PRAM battery? Since Apple moved away from the 3.6 1/2 AA PRAM batteries, I have yet to see one of the new ones fail.
Yes, there is a PRAM/NVRAM battery on the Logic Board. You can see where it is below, I have circled it circled blue.
Click “view original” to see it in a bigger picture.