SIGMA LITHIUM ANNOUNCES FINAL INVESTMENT DECISION AND INITIATION OF CONSTRUCTION TO DOUBLE …

Reports Unaudited Financial Information For 4Q23 And Full Year 2023(All Figures in US$)FINAL INVESTMENT DECISION: CONSTRUCTION OF PHASE 2 INDUSTRIAL PLANTSigma Lithium announces that it concluded the Final Investment Decision to double production of its unique Quintuple Zero Green Lithium from current 270,000t/y to 520,000t/y.The Board of Directors approved the initiation of construction of a second line of its Greentech Industrial Plant ("Phase 2 Industrial Greentech Plant") expanding capacity by 250,000t/y, with Capex of $100mm (FEL3) Sigma had already been awarded a full environmental license to build and operate the Phase 2 Industrial Plant in 1Q24The Company is in process to start construction activities on site this month for earth civil works, foundation, and infrastructure installation mobilizing equipment and approximately 200 workers.Company plans to commission the Phase 2 Industrial Plant by year-end 2024 and first production is expected in the first quarter of 2025.The Company has all the funds to meet the anticipated funding requirements under its proposed construction plans and schedule: Sigma Lithium cash balance as of March 30, 2024 is $109.4 million . Capex is anticipated to be fully funded given cash balance, unused trade finance lines and expected free cash flow generation. Brazilian National Development Bank (BNDES) letter of intent is expected to provide incremental financing flexibility later in the year, when it becomes final – reimbursing the capex post disbursement, as customary with BNDES development credit.2023 TRANSFORMATIONAL YEAR: BECAME A MAJOR LITHIUM PRODUCERSigma Lithium was transformed from a

construction site into the world\'s 6 th largest global integrated producer of lithium concentrate. Greentech Plant completed its ramp-up cycle to design capacity of 270,000t/y in the fourth quarter, marking a successful completion of the Company\'s first operational year. Sigma Lithium reports unaudited full year 2023 revenue of USD $135.1m 2023 realized premium annual average price for concentrate of $1,321 /tonne. Average realized price of concentrate sold in 4Q23 of $1,067 /tonne. Please also refer to the link here for updated videos of the current activities at the siteSigma Lithium became the world\'s 4 th largest lithium industrial complex after approximately 60,000m 2023 campaign. Delivered substantial NI 43-101 resource growth of 30% to 109Mt and a further expected mineral resource increase of 37% to 150Mt .Low production cost resulting from increased throughput and overall expenses discipline led to significant financial margins and the ability to generate free cash flow (FCF). FY23 Adjusted EBITDA of $49.1m , representing a margin of 36.4%. FY23 EBITDA of $ 24.5m 4Q23 $29m of FCF generation.4Q23 cash operating costs of $549 /tonne FOB Vitoria, and pro forma of $455 /tonne FOB Vitoria.SÃO PAULO , April 1, 2024 /PRNewswire/ — SIGMA Lithium Corporation ("Sigma Lithium" or the "Company") (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, responsibly sourced lithium concentrate, today announced the Company\'s Board of Directors has made a Final Investment Decision ("FID") to double production of its

unique Quintuple Zero Green Lithium from current 270,000t/y to 520,000t/y. The Board of Directors approved the initiation of construction of a second line of its Greentech Industrial Plant ("Phase 2 Industrial Greentech Plant") with Capex of $100mm (FEL3).Sigma Lithium is also releasing its unaudited financial information for the fourth quarter and full year ended December 31, 2023.PHASE 2 FINAL INVESTMENT DECISION ($ USD)The capital expenditure ("Capex") for Phase 2 Industrial Greentech Plant is targeted to be USD $100 million, aiming to increase the Company\'s total annual lithium capacity by 250,000 tonnes of Quintuple Zero Green Lithium to 520,000 tonnes in 2025. Combined, Sigma Lithium would produce enough lithium concentrate to power roughly 1.8 million electric vehicles(3).The Company is also pleased to announce that it shall commence mobilization for construction on site of approximately 180 workers and construction equipment to build the earthworks, foundation and infrastructure installation of its Greentech dense media separation production plant (the "Production Plant"). The Company has quoted FEL3 the critical long lead items required for the Project and begun planning orders from respective suppliers to secure manufacturing timetables.Completion of this stage of the construction civil works (earthworks and the concrete plant drainage channels and civil works) is expected to be concluded within approximately six months, by the Brazilian construction firm of Promon Engenharia Ltda. ("Promon"), which successfully constructed the Phase 1 Industrial Greentech Plant and delivered it on time and on budget.Th