Horizonte Minerals Plc announced that it has agreed a USD 20 million interim funding package (the "Funding Package") which comprises a USD 15 million Senior Secured Loan Facility (the "Facility"), and the release of USD 5 million by OMF Fund III (Cr) Ltd. previously secured at Vermelho, that will allow for critical construction streams to advance at its Araguaia Nickel Project ("Araguaia" or "the Project") and for general working capital purposes. The Facility has been provided by OMF Fund III (F) Ltd. ("Orion Mine Finance"),La Mancha Investments S.à r.l. ("La Mancha") and Glencore International AG ("Glencore") (together the "New Money Lenders"), who have each committed USD 5 million to the Facility. The New Money Lenders will rank pari passu with the Senior Lenders and will benefit from the same security package.

The Facility will have a maturity date falling 102 months from 7 December 2022 and will bear interest at 15.00% per annum. Furthermore, the existing Senior Lenders have agreed to waivers that include deferral of interest due at 31st December 2023 to the end of February 2024 in addition to any breaches or Events of Default under the Senior Debt Facilities. The Funding Package provides the Company with liquidity to advance the required re-estimation work at Araguaia, necessary to implement a full funding solution.

It will also allow two critical workstreams to be completed, the Water Storage Reservoir and the 230kV powerline,while maintaining a strong focus on safety.