SIGMA Lithium Corporation announced the positive economic results of its study for a potential integrated production increase of Battery Grade Sustainable Lithium Concentrate from 270,000 tpa (36,700 tpa LCE) commencing in 2023 to 768,000 tpa (104,200 tpa LCE) in the second year at the Company's 100% owned Grota do Cirilo Project, currently in construction in Minas Gerais, Brazil. The Production Expansion Study demonstrated robust Project economics, highlighted by an after-tax NPV8% of USD 15.3 billion, incorporating production from Phase 1 (nearing commissioning initiation) combined with Phase 2 and Phase 3. Battery Grade Sustainable Lithium Concentrate production expansion could be achieved by the addition to the Greentech Lithium Plant of a single larger additional dense media separation module paired with a proportional crushing module. Increase in mining feedstock for the integrated production expansion of the Greentech Lithium Plant shall be achieved by the construction of the Phase 2 and Phase 3 Mines.

The Phase 3 mineral reserve has been declared as a result of the positive economic results of the analysis to be published in the Updated Technical Report. The Phase 3 mineral resource was updated after Sigma Lithium completed an additional 13 drillholes (3,531 meters), which enabled the conversion of previous Inferred mineral resource estimates into the Indicated category down-dip and at the top of the south zone of the deposit. The additional drilling also allowed the Company's geological and metallurgical engineering consultant, SGS Canada Lakefield, to model two small satellite zones, one in the hanging wall of the north zone and one in the hanging wall of the south zone.