SIGMA LITHIUM REPORTS 4Q24 AND FY24 RESULTS: STRONG MARGIN GENERATION, RECORD PRODUCTION AND SIGNIFICANT COST REDUCTIONS

HIGHLIGHTS FINANCIAL REPORT Strong operating margins: reflecting strong profitability and operational efficiency. Cash operating margin of 42% in 4Q24, underlying 41% in FY24. Adjusted EBITDA margin in 4Q24 of 26%, underlying 25% in FY24. Record quarterly production and sales volumes: improvements at Greentech Industrial Lithium Plant: Increased production and sales of Quintuple Zero Lithium Concentrate by approximately 28% in 4Q24: over 77,000 tonnes of production and 73,900 tonnes of sales. Issued FY 2025 production guidance of 270,000 tonnes, reinforced by performance achieved in 4Q24. A video highlighting our operational improvements is available for viewing here Achieved significant cost reductions: monetized economies of scale and increased efficiency. CIF China cash operating costs decreased 17% to US$427/t in 4Q24. All-in sustaining costs (AISC) totaled US$592/t in 4Q24. Provided FY 2025 cost guidance of CIF China cash costs of US$500/t and AISC of US$660/t. Strengthened Commercial Strategy in 4Q24 to align with annual restocking trends of chemical refiners, effectively managing seasonality: achieved average sales prices of approximately US$900/t (6% CIF China). PLANT 2 CONSTRUCTION Significantly Progressed Plant 2 Construction: Concluded procurement of long-lead items, continued detailed engineering, completion of earthworks and foundation construction. A video of construction progress is available for viewing here. Plant commissioning is expected to begin in 4Q25. TECHNICAL REPORT Published an updated NI 43-101 Technical Report for the Grota do Cirilo operations: Updated After-Tax NPV8% for the operations at US$5.7 billion, at current prices averaging US$1,000/t for the next three years of operations. Validated 22 years of operational life with a mineral resource estimate of 107Mt (M&I&I) at 1.40% Li2O, and a mineral reserve estimate at 76 Mt. Conference Call Information The Company will hold a conference call to discuss its financial results for the fourth quarter at 8:00 a.m. ET on Monday, March 31, 2025. Participating in the call will be Ana Cabral, Co-Chairperson and Chief Executive Officer, and Rogerio Marchini, Chief Financial Officer. To register for the call, please proceed through the following link Register here. For access to the webcast, please Click here. , /PRNewswire/ -- Sigma Lithium Corporation (TSXV/NASDAQ: SGML, BVMF: S2GM34), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, reports its results for the full year ended December 31, 2024. Ana Cabral, Co-Chairperson and CEO, said: "In 2024, Our continued focus on innovation and the introduction of advanced Greentech technologies, such as the new ultrafines reprocessing circuit, increased the overall efficiency of our industrial process. As a result, we significantly increased industrial lithium oxide concentrate production volumes, without a concomitant increase in mining footprint, thereby simultaneously creating value for both the environment and our shareholders." "We are undergoing a transformational period as we accelerate our growth to become one of the world's leading integrated industrial-mineral lithium oxide producers. As we increase production volume, we see opportunities to further monetize economies of scale. We demonstrated operational resilience during the current lithium cycle, surpassing production targets, while maintaining one of the lowest cash cost positions in the industry. Our execution track record further reinforces our ability to deliver on our targets", she added. The CEO concluded, "We are simultaneously constructing our second Greentech Industrial Plant to double our production capacity in 2025, while entering the planning stages for a third Greentech production line. This expansion, coupled with our disciplined approach to capital deployment and industry-leading low capex intensity, positions Sigma Lithium for sustainable long-term growth. As we look ahead, our unwavering focus on innovation, cost leadership, strategic partnerships, and environmental stewardship will continue to drive value creation for our stakeholders." Table 1. Summary of FY 2024 and 4Q24 Key Operational and Financial Metrics Production and Sales Unit FY2024 4Q24 Production Volumes tonnes 240,828 77,034 Sales Volumes tonnes 236,811 73,900 Average grade of shipped product % of Li2O 5.3 5.2 Average Selling Price, @6% CIF China(1) US$/t 875 900 COGS US$/t 506 434 Operating Cash Cost at Plant Gate(2) US$/t 364 318 Operating Cash Cost CIF China (2) US$/t 494 427 All-in Sustaining Cash Cost (2) US$/t 714 592 Financial Performance Unit FY2024 4Q24 Underlying Revenue(3) US$ 000 180,589 47,336 Reported Revenue US$ 000 151,352 47,336 Underlying Adjusted EBITDA(4) US$ 000 46,023 12,259 Adjusted EBITDA(4) US$ 000 16,786 12,259 Cash and Cash Equivalents, at the end of the respective period US$ 000 45,918 45,918 Revenues and Production Sigma Lithium reported revenues of US$151.4 million for the FY24. Revenues for the FY24 include non-cash provisional price adjustments for the shipments realized in 2023 in the amount of US$29.2 million, reflecting downward price settlements for these shipments. Therefore, underlying revenues, excluding these non-cash provisional 2023 price adjustments, totaled US$180.6 million for the full year 2024. The Company also reported total revenues of US$47.3 million for the 4Q24, an increase of 127% over the revenues reported in 3Q24. As a result of the improved efficiencies at the Greentech Plant, following the completion of the new ultrafines circuit, the Company achieved a 28% increase in production volumes in the 4Q24, reaching 77,034 tonnes. Annual production totaled 240,828 tonnes in 2024. The Company expects to produce at least 270,000 tonnes of its Quintuple Zero Lithium Concentrate in 2025, averaging approximately 67,500 tonnes per quarter. Following the success in increasing production volumes, during the 4Q24, Sigma Lithium sold 73,900 tonnes of its Quintuple Zero Green Lithium concentrate. As a result, the Company reported a total of 236,811 tonnes in sales volumes for the FY24. The Company strengthened its commercial relationship with trading companies, allowing to execute commercial strategy in line with annual restocking trends of chemical refiners, weathering seasonality more effectively and outperforming market price benchmarks, achieving average CIF sales price for the 4Q24 of approximately US$900/t. In 2025, the Company will focus on optimizing further its commercial strategy by following seasonality patterns. This will involve consolidating shipments into larger vessels and timing deliveries to align with peak demand seasons at final destinations. Cash Gross Margin, Adjusted EBITDA and Adjusted EBITDA Margin Sigma Lithium reported an underlying cash gross margin (gross margin excluding non-cash 2023 provision price adjustments and D&A expenses) of 41% for FY24 and cash gross margin of 42% for 4Q24 (gross margin excluding D&A expenses). For the FY24 Adjusted EBITDA totaled US$16.8 million. Similarly to revenues, underlying Adjusted EBITDA (excluding non-cash 2023 provisional price adjustments) for the FY24 totaled US$46.0 million, representing underlying Adjusted EBITDA margin of 25%. For the 4Q24, Adjusted EBITDA totalled US$12.3 million, representing an Adjusted EBITDA margin of 26%, reflecting strong profitability and operational efficiency. Costs and FY25 Guidance The Company reported cost of sales of US$119.7 million or US$506/t of sold products for the FY24. The cost of sales totalled US$32.1 million for the 4Q24, an increase of 10% compared to the cost of sales reported for the previous quarter as a result of significantly higher sales volumes in the quarter. By monetizing economies of scale, the Company reported a 15% decrease in cost of sales per tonne averaging US$434/t of sold product for the 4Q24 compared to 3Q24. During 2024, the Company maintained its low-cost position, with CIF China cash operating costs averaging US$494/t. In the 4Q24, the Company achieved a significant reduction in CIF China operating cash costs, totaling US$427/t, a decrease of 17% compared to the 3Q24. This reduction was driven by economies of scale from a substantial increase in production volumes during the quarter. Demonstrating resilience to price cycles, AISC also saw a significant improvement at US$592/t in 4Q24, compared to the average of US$714/t for the FY24. The decreases were primarily driven by a reduction in financial expenses, resulting from more efficient use of working capital, and a dilution of SG&A expenses as we scaled production. For the 2025 business year, the Company expects to maintain CIF China operating cash cost of US$500/t with AISC averaging US$660/t. This conservative guidance is based on the average CIF China operating cash cost and AISC per tonne achieved in 2024. Balance Sheet & Liquidity As of December 31, 2024, the Company's cash and cash equivalents totaled US$45.9 million. The Company's cash generation for the year was US$23.7 million, excluding the "non-realized" foreign exchange impact on cash held in other currencies of US$14.4 million and the interest payments related to the previous year, as outlined below. The main uses of cash during the year were: (i) interest payments of US$31.5 million, which included payments for two years of interest on a long-term loan facility (US$12.0 million accrued in 2023); (ii) Increase in working capital of US$8.8 million due to significantly higher production and sales volumes; (iii) Capital expenditures of US$23.8 million; In 2024, due to the achieved operational consistency, the Company was granted substantial trade finance credit lines by commercial banks. As of December 31, 2023, the Company had US$9.4 million in short-term debt and US$119 million in total debt. By December 31, 2024, short-term debt increased to US$60.3 million, with total debt reaching US$173.6 million. Throughout 2024, enhanced operational reliability and a steady shipment schedule reduced the Company's export credit risk, which in turn improved the availability and lowered the interest rates on its trade finance lines. As a result of these performance improvements, the Company increased working capital efficiency and decreased its total financial and interest expenses per ton as follows: Significantly decreased interest rates on the Company's trade finance export credit lines, from 15.5% per year in 4Q23 to 8.7% per year in 4Q24. Improved working capital efficiency, maintaining a short-term trade finance balance of US$59.6 million as of December 2024, consistent with the previous quarter, despite the significant increase in production. Decreased net interest paid on short-term debt to US$19/t in 4Q24. Net interest paid in FY24 totaled US$19.6 million (excluding interest accrued in 2023), or approximately US$81/t based on annual production of 240,828 tonnes. As guidance, the Company expects interest payments to remain at similar levels of approximately US$78/t in 2025. While we plan to ramp up production, the impact on financial costs per tonne may not be as significant, as we expect to disburse the BNDES loan without the benefit of the additional production volumes from Plant 2. However, by 2026, once Plant 2 is operating at full capacity, we anticipate a sharp reduction in financing costs per tonne to US$39. Phase 2 Expansion and CAPEX Update In April 2024, the Board of Directors announced a Final Investment Decision for the Company's Phase 2 Greentech Plant expansion. The project is expected to add 250,000 tonnes of production capacity to the current Phase 1 operation. Importantly, the Company has already received all licenses to build and operate this second Greentech Plant and commence mining operation at its Barreiro site, when needed. The operating license for the Barreiro mine, the second mine within the Grota do Girlo property, was granted in December 2024. The Company has successfully completed 100% of the foundation earthworks for the second Greentech industrial plant, staying on schedule and within budget. The first cement has been poured, and construction has advanced to civil works, including the completion of water drainage infrastructure for the second industrial site. In addition, detailed engineering with technical specifications has been completed for certain key equipment items with long manufacturing lead times (long-lead items). Procurement and contractual negotiations have been completed, and the initial deliveries of the plant's equipment are expected to commence in July 2025, followed by the assembly of mechanical structures. Currently, there are more than 100 people working on the expansion project, with plans to increase the workforce to 1,000 at peak construction. The Company has also accelerated its homecoming program with the creation of a training center for heavy machinery operators in one of the neighboring communities. Sigma Lithium has secured a US$100 million development bank credit line from BNDES to fully fund the construction. The Company decided to continue advancing its construction, despite the current lithium cycle, due to its low capital expenditure intensity (capex per tonne of capacity built). This efficiency is driven in part by the existing infrastructure, which supports the additional Greentech Industrial Plant and enables the Company to fast-track construction timelines while controlling costs. During 2024, the capital expenditure totalled US$23.8 million, including approximately US$8.0 million of maintenance expenses. The Company expects the 2025 capital expenditure to reach approximately US$100 million for the Phase 2 construction to be reimbursed through the BNDES development loan. Updated Technical Report The Company filed an updated technical report (the "Technical Report") for its 100% owned Grota do Cirilio lithium project supporting 22 years of operational life for the Company. The Technical Report contains an updated Mineral Resource and Reserve Estimate, and provides revised operational cost, and economic parameters for the Grota do Cirilo operation at Vale do Jequitinhonha in Minas Gerais, Brazil, as of January 15, 2025. The Company's mining resource increased by a total of 23% from the previous technical report, to 93.2 million tonnes of measured and indicated (M&I) mineral resource at 1.40% Li2O, together with inferred mineral resource of 13.7 million tonnes at 1.36% Li2O. Proven and Probable reserves have increased 40% to 76.4 million tonnes at 1.29% Li2O, with a revised long-term cash operating cost at Plant Gate estimate of approximately US$318/t of lithium oxide concentrate. This increase in mineral resource estimates reflects only a portion of the full geological exploration potential at Grota do Cirilo, as announced by the Company. Grota do Cirilo is one of four properties within Sigma Lithium's broader mining portfolio, highlighting significant further exploration and resource growth potential. Additionally, Sigma Lithium continues to execute the mineral and metallurgical development work to further convert its mineral resources into reserves over time. As a result, the Company expects the increase in mineral reserve estimates to continue alongside the construction of additional Greentech industrial production lines, ensuring that the operational life remains above 15 years. The Technical Report also outlines an updated after-tax NPV (at 8%) for Phases 1, 2, and 3, estimated at US$5.7 billion, using Benchmark Minerals Inc.'s updated price forecast, representing a decrease from US$15.3 billion in the previous technical report filed in January 2023. This reduction in project NPV is not solely due to the significant decline in lithium prices in recent years, but also reflects changes in the timeline for building the Greentech Industrial Production Plants as follows: January 2023 Technical Report: Phases 2 and 3 were projected to be fully ramped up by 2024, with production levels expected to reach approximately 700,000 tonnes that year. March 2025 Technical Report: Phase 2 is now expected to reach full ramp-up in 2026, with Phase 3 following in 2027. A full copy of the NI 43-101 Technical Report is available on the Company website. Qualified Person Disclosure Please refer to the Company's National Instrument 43-101 technical report titled "Grota do Cirilo Lithium Project Araçuaí and Itinga Regions, Minas Gerais, Brazil" issued March 31, 2025, which was prepared for Sigma Lithium by Marc-Antoine Laporte, P.Geo, SGS Canada Inc., William van Breugel, P.Eng, SGS Canada Inc., Johnny Canosa, P.Eng, SGS Canada Inc., and Joseph Keane, P. Eng., SGS North America Inc. (the "Technical Report"). The Technical Report is filed on SEDAR and is also available on the Company's website. The independent qualified person (QP) for the Technical Report's mineral resource estimates is Marc-Antoine Laporte P.Geo., M.Sc., of SGS Group in Quebec, Canada. Mr. Laporte is a Qualified Person as defined by Canadian National Instrument 43-101. The technical and scientific information related to mineral resource estimates in this news release has been reviewed and approved by Marc-Antoine Laporte. Other disclosures in this news release of a scientific or technical nature at the Grota do Cirilo Project have been reviewed and approved by Iran Zan MAIG (Membership number 7566), who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Zan is not considered independent under NI 43-101 as he is Sigma Lithium Director of Geology. Mr. Zan has verified the technical data disclosed in this news release not related to the current mineral resource estimate disclosed herein. ABOUT SIGMA LITHIUM Sigma Lithium (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate. The Company operates one of the world's largest lithium production sites—the fifth-largest industrial-mineral complex for lithium oxide—at its Grota do Cirilo Operation in Brazil. Sigma Lithium is at the forefront of environmental and social sustainability in the electric vehicle battery materials supply chain, producing Quintuple Zero Green Lithium: net-zero carbon lithium made with zero dirty power, zero potable water, zero toxic chemicals, and zero tailings dams. Sigma Lithium currently produces 270,000 tonnes of lithium oxide concentrate on an annualized basis (approximately 38,000–40,000 tonnes of LCE) at its state-of-the-art Greentech Industrial Lithium Plant. The Company is now constructing a second plant to double production capacity to 520,000 tonnes of lithium oxide concentrate (approximately 77,000–80,000 tonnes of LCE). For more information about Sigma Lithium, visit our website Sigma Lithium LinkedIn: Sigma LithiumInstagram: @sigmalithiumTwitter: @SigmaLithium FORWARD-LOOKING STATEMENTS This news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation, including but not limited to statements relating to timing and costs related to the general business and operational outlook of the Company, the environmental footprint of tailings and positive ecosystem impact relating thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the operational status of the Grota do Cirilo Project, and other forward-looking information. All statements that address future plans, activities, events, estimates, expectations or developments that the Company believes, expects or anticipates will or may occur is forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Forward-looking information contained herein is based on certain assumptions regarding, among other things: general economic and political conditions; the stable and supportive legislative, regulatory and community environment in Brazil; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company's market position and future financial and operating performance; the Company's estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; and the Company's ability to operate its mineral projects including that the Company will not experience any materials or equipment shortages, any labour or service provider outages or delays or any technical issues. Although management believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that these assumptions and expectations will prove to be correct. Forward-looking information inherently involves and is subject to risks and uncertainties, including but not limited to that the market prices for lithium may not remain at current levels; and the market for electric vehicles and other large format batteries currently has limited market share and no assurances can be given for the rate at which this market will develop, if at all, which could affect the success of the Company and its ability to develop lithium operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the current annual information form of the Company and other public filings available under the Company's profile at www.sedarplus.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Financial Tables The consolidated financial statements for the periods ended December 31, 2024 and 2023 were audited by the Company's independent auditor in accordance with IFRS Accounting Standards, as issued by the International Accounting Standards Board. Figure 1: Consolidated Statements of Income (Loss) Summary Consolidated Statements of Income (Loss) Three Months Ended December 31, 2024 Twelve Months Ended December 31, 2024 Three Months Ended December 31, 2024 Twelve Months Ended December 31, 2024 ($000) CAD CAD USD USD Revenue 67,206 208,747 47,336 151,352 Cost of goods sold & distribution (45,306) (164,473) (32,079) (119,718) Gross profit 21,900 44,274 15,257 31,634 Sales expense (1,655) (3,871) (1,167) (2,796) G&A expense (5,873) (25,215) (4,200) (18,418) Stock-based compensation (3,578) (11,172) (2,525) (8,102) ESG and other operating expenses (2,933) (10,203) (2,067) (7,398) EBIT 7,861 (6,187) 5,298 (5,080) Financial income and (expenses), net (16,486) (38,870) (11,701) (28,145) Non-cash FX & other income (expenses), net (21,133) (45,306) (15,138) (32,806) Income (loss) before taxes (29,757) (90,363) (21,541) (66,031) Income taxes and social contribution 18,078 20,382 12,999 14,635 Net Income (loss) for the period (11,679) (69,981) (8,541) (51,396) Weighted avg diluted shares outstanding 111,124 111,267 111,124 111,267 Earnings per share ($0.10) ($0.63) ($0.08) ($0.46) Figure 2: Consolidated Statements of Financial Position Summary Consolidated Statements of Financial Position As of December 31, 2024 As of December 31, 2023 As of December 31, 2024 As of December 31, 2023 ($000) CAD CAD USD USD Assets Cash and cash equivalents 66,053 64,403 45,918 48,585 Trade accounts receivable 16,663 29,707 11,583 22,410 Inventories 23,217 19,442 16,140 14,667 Other current assets 27,517 29,124 19,129 21,971 Total current assets 133,450 142,676 92,771 107,632 Property, plant and equipment 202,864 239,742 141,025 180,858 Other non-current assets 134,244 104,820 93,322 79,074 Total Assets 470,559 487,238 327,118 367,565 Liabilities & Shareholder Equity Financing and export prepayment 88,606 28,907 61,596 21,807 Suppliers & accounts payable 46,933 71,152 32,627 53,676 Other current liabilities 20,928 22,315 14,550 16,834 Total current liabilities 156,468 122,373 108,773 92,317 Financing and export prepayment 161,117 141,999 112,003 107,122 Other non-current liabilities 20,144 8,581 14,004 6,474 Total non-current liabilities 181,261 150,580 126,007 113,595 Total shareholders' equity 132,830 214,284 92,338 161,652 Total Liabilities & Shareholders' Equity 470,559 487,238 327,118 367,565 Figure 3: Cash Flow Statement Summary Consolidated Statements of Cash Flows Twelve Months Ended December 31, 2024 Twelve Months Ended December 31, 2023 Twelve Months Ended December 31, 2024 Twelve Months Ended December 31, 2023 ($000) CAD CAD USD USD Operating Activities Net income (loss) for the period (69,981) (38,245) (51,396) (27,940) Adjustments, including FX movements 75,062 52,080 54,549 52,080 Interest payment on loans and leases (17,321) 14,863 (12,487) 12,111 Adjustments to income (loss) for the period 57,741 66,943 42,062 64,191 Change in working capital (12,107) (59,014) (8,832) (42,836) Net Cash from Operating Activities (24,347) (475) (18,166) (23,385) Investing Activities Purchase of PPE (23,078) (45,782) (16,838) (34,537) Addition to exploration and evaluation assets (4,238) (23,478) (3,092) (17,711) Other (5,244) (12,957) (3,826) (9,375) Net Cash from Investing Activities (32,560) (82,217) (23,756) (61,623) Financing Activities Proceeds of loans, net 75,684 92,562 56,222 59,148 Other (3,568) (14,737) (2,610) (1,057) Net Cash from Financing Activities 72,116 77,825 53,612 58,091 Effect of FX (13,559) 3,233 (14,356) 4,406 Net (decrease) increase in cash 1,650 (1,634) (2,666) (22,510) Cash & Equivalents, Beg of Period 64,403 96,354 48,584 71,094 Cash & Equivalents, End of Period 66,053 64,403 45,918 48,584 Footnotes & Reconciliations: To provide investors and others with additional information regarding the financial results of Sigma Lithium, we have disclosed in this release certain non-IFRS operating performance measures such as realized price per tonne, unit operating costs, EBITDA, EBITDA margin, Adjusted EBITDA, and Adjusted EBITDA margin. These non-IFRS financial measures are a supplement to and not a substitute for or superior to, the Company's results presented in accordance with IFRS. The non-IFRS financial measures presented by the Company may be different from non-GAAP/IFRS financial measures presented by other companies. Specifically, the Company believes the non-IFRS information provides useful measures to investors regarding the Company's financial performance by excluding certain costs and expenses that the Company believes are not indicative of its core operating results. The presentation of these non-U.S. GAAP/IFRS financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP/IFRS. A reconciliation of these financial measures to IFRS results is included herein. 1. Average selling price, CIF represents revenues associated with shipments invoiced during the reporting period netted out against total volume shipped. The final price may be higher or lower than the invoiced price based on future price movements. 2. Cash unit operating costs include mining, processing, and site based general and administration costs. It is calculated on an incurred basis, credits for any capitalised mine waste development costs, and it excludes depreciation, depletion and amortization of mine and processing associated activities. When reported on an FOB basis, this metric includes road freight, and port related charges. When reported on a CIF basis it includes ocean freight, insurance and royalty costs. Royalty costs include a 2% government royalty and a 1% private royalty. For CIF production cost analysis purposes, Sigma is considering the ocean freight costs of product that sailed in the month of reporting. However, for accounting purposes, and thus in this quarter's reported cost of good sold and revenues, the ocean freight cost is to be recognized the moment material is delivered to the customer. Cash unit all-in sustaining cost includes unit CIF China cash operating cost, SG&A, maintenance capex and financial expenses. 3. Underlying revenue and EBITDA represent reported revenues, excluding provision price adjustments for the shipments made in 2023. 4. Adjusted EBITDA is a measure of recurring core earnings profile of the company. It is calculated as revenues minus cash operating and selling expenses. The calculation excludes non-cash items such as depreciation and amortization and stock-based compensation expenses. EBITDA Three Months Ended December 31, 2024 Twelve Months Ended December 31, 2024 Three Months Ended December 31, 2024 Twelve Months Ended December 31, 2024 ($ 000) CAD CAD USD USD Revenues 67,206 208,747 47,336 151,352 Cost of goods sold & distribution (45,306) (164,473) (32,079) (119,718) Gross Profit 21,900 44,274 15,257 31,634 Sales expenses (1,655) (3,871) (1,167) (2,796) G&A expense (5,873) (25,215) (4,200) (18,418) Stock-based compensation (3,578) (11,172) (2,525) (8,102) ESG & other operating expenses, net (2,933) (10,202) (2,067) (7,398) EBIT 7,861 (6,187) 5,298 (5,080) Depreciation & Amortization 6,288 18,970 4,436 13,764 EBITDA 14,149 12,783 9,734 8,684 EBITDA (%) 21 % 6 % 21 % 6 % Stock-based compensation 3,578 11,172 2,525 8,102 Adjusted EBITDA 17,728 23,955 12,259 16,786 Adjusted EBITDA (%) 26 % 11 % 26 % 11 % Cash-Flow Reconciliation FY2024 FY2023 Cash Beginning of the Period 48,584 71,094 Net cash used in operating activities (18,146) (23,385) Adjustment for interest accrued in 2023 11,978 (11,978) Capex (23,756) (61,623) Net borrowing 53,612 58,091 Pro-forma cash increase (decrease) in the year 23,688 38,895 FX impact on cash held in foreign currency (non-realized) (14,376) 4,406 Adjustment for interest accrued in 2023 (11,978) 11,978 Increase (decrease) in cash and cash equivalents in the year (2,666) (22,510) Cash End of the Period 45,918 48,584 SOURCE Sigma Lithium Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

SIGMA LITHIUM REPORTS 4Q24 AND FY24 RESULTS: STRONG MARGIN GENERATION, RECORD PRODUCTION AND SIGNIFICANT COST REDUCTIONS

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