Sigma Lithium Corporation announced that it received a Letter of Intention for a project finance credit line from the Development Bank of the Brazil. The Development Bank Credit Line will be used for the expansion of the Company's world class unique Quintuple Zero Green Lithium Grota do Cirilo project in Vale do Jequitinhonha in Brazil. The Letter of Intent is non-binding, as the consummation of the Development Bank Credit Line remains subject to completion of: (i) observation of operating policies of BNDES in place during the review of Sigma Lithium's project finance application; (ii) review of the financing structure proposed by the Company; (iii) the Company submission of satisfactory collateral to BNDES.

The closing of the Development Bank Credit Line is subject to the final credit approval by BNDES Credit Committee, negotiation of definitive documentation and other customary closing conditions, followed by final credit approval for each draw-drown. The financial cost of this type of credit line is typically based on the Brazilian reference rate ("taxa referencial" or "TR"). However, the closing conditions do not include lithium market-related conditions and pricing elements that fall outside of the control of the Company.

The development bank credit line is part of a broader strategic plan by BNDES to foster in Brazil the development of a world class competitive industrial supply chain to lead the global supply of environmentally and socially sustainable battery materials. BNDES stated in the letter that the financing for projects to increase industrial production capacity of critical minerals is one of the priorities of BNDES's long term strategy to support the development of a strong, green and inclusive industrial base in Brazil.