Horizonte Minerals Plc is developing two Tier 1 nickel projects in Brazil and announced the signing of a milestone agreement between the Araguaia Nickel Project ("Araguaia") and Brazil's leading national industrial training providerServiço Nacional de Aprendizagem Industrial for host community skills training. Under this agreement, a key component of Araguaia's Local Content Initiative, the partners will train and develop local community members in core skills required during Araguaia's construction and operational phases. An agreement has been reached with SENAI, Brazil's leading national industrial training provider; Under the two-year partnership, Horizonte will fund approximately two million Brazilian Reais enabling technical training organizations to deliver more than 390 accredited traineeships in partnership with Universidade do Estado do Pará, the state university; The first round of training has commenced with 20% female participation, 37% of participants in the 18-to 25-year age range, and 58% of participants under the age of 33 years, delivering on the program's diversity and accessibility objectives, to be further enhanced in future student cohorts; · 62% of the participants in the first round of training reported that they are unemployed, highlighting the importance of the Local Content Initiative to broader socio-economic development; · Araguaia is forecasted to employ a peak of more than 2,500 personnel in construction and up to 500 personnel directly in the operational phase, with many to be engaged by local and national contractors; · Beyond access to direct employment, the development of transferable and valuable industrial skills will enable greater participation by host communities in mine local procurement and supply chains for mining, agriculture and tourism sectors; · SENAI delivers industry-recognised, accredited training, leveraging strong partnerships with national and state industry organisations; and · Sustainable local community development is integral to Horizonte's strategy, as evidenced by this partnership and the Company's decade-long collaboration and support to local communities since the Araguaia discovery.

The partnership program is being delivered as a key element of the Company's wider Araguaia Local Content Initiative. Under the initiative, the Company is working with the Brazilian National Employment System to register and create a database of local community members interested in participation in the Araguaia workforce. Existing residents of Conceição do Araguaia and Floresta do Araguaia communities will be prioritised for training and development opportunities.

The partnership with SENAI will fully fund over 390 training courses, targeting specific industrial skills development SENAI have partnered with UEPA, which will provide facilities for many of the SENAI training courses. The wider initiative will also incorporate the development of a local supply chain program, aimed at deepening the capacity of existing suppliers and creating new business opportunities in the region. In another partnership with SENAI, a study has been completed on the potential uses of slag (a benign ferronickel by-product), highlighting its potential for use in construction and road materials.

Elsewhere, slag is widely used as a concrete binder. Horizonte intends to support the local community to advance these beneficial reuse opportunities.