SIGMA LITHIUM ANNOUNCES 2Q 24 RESULTS: REDUCED CASH COSTS BY 22%, INCREASED FOB MARGINS TO 54% ACHIEVING GUIDANCE AHEAD OF SCHEDULE

Operational Highlights - Sigma Lithium achieved operational efficiency comparable to larger seasoned producers, with sales volumes of 52,572 tonnes of Quintuple Zero High Purity Lithium Concentrate ("5.0 Green Lithium") in 2Q24 [1] - The company expects total production of 60,000 tonnes of 5.0 Green Lithium in 3Q24 [1] - Sigma maintained a 10% price premium relative to peer lithium producers year to date [1] - The company diversified its commercial relationships by engaging with new South Korean and Japanese industrial and battery manufacturing companies [1][13] - Sigma celebrated a year of shipments at Grota do Cirilo, achieving a high operational employee safety index, ranking second globally [9] Financial Highlights - Revenues from lithium concentrate sales in 2Q24 totaled $54.4 million, with reported revenue of $45.9 million [2][16] - The company achieved a 22% reduction in unit cash costs year to date, with cash costs averaging $364 per tonne [2][18] - Adjusted cash EBITDA margins improved to 29%, up from 16% in 1Q24 [2][19] - Cash balances as of August 14 were $99 million, reflecting a comfortable liquidity position [2] - Net income for the quarter was -$10.8 million, impacted by non-operating currency-related adjustments [21] Production and Cost Efficiency - Lithium concentrate production in 2Q24 totaled 49,389 tonnes, with expectations for increased production in 3Q24 [12][8] - The company implemented operational improvements at the Greentech Plant, which are expected to enhance efficiency and reduce unit costs further [11][19] - Cash unit operating costs for lithium concentrate averaged $364 per tonne in 2Q24, with FOB costs averaging $424 per tonne [18][17] Expansion Plans - Sigma Lithium announced a Final Investment Decision for the Phase 2 Greentech Plant expansion, expected to add 250,000 tonnes of production capacity [22][28] - The total expected capital expenditure for the Phase 2 construction is $100 million, with all relevant environmental licenses secured [23][22] Balance Sheet and Liquidity - The company ended the second quarter with $75.3 million in cash and cash equivalents, with a sequential decline attributed to timing of cash receivables [24] - As of the filing date, the cash balance had returned to $99 million, with $219 million in short-term loans and export prepayment liabilities [24]