Slide 1: Management's Discussion and Analysis, Three & Nine Months Ended September 30, 2023
SIGMA LITHIUM CORPORATION MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE THREE & NINE MONTHS ENDED SEPTEMBER 30, 2023 (Expressed in thousands of Canadian dollars, except per share amounts or unless stated otherwise)
Slide 2: Figure 2: Sigma's Corporate Targets of Creating Value in a Sustainable Way
Figure 2 : Sigma’s Corporate Targets of Creating Value in a Sustainable Way
Slide 3: Major Corporate Targets
Major Corporate Targets Achieve Phase 1 ‘Commercial Production Organic Production Growth (Phaso 2&3) Qr=Es Emmissions / Zoro Tailings Achieved in early @4-2023 (Gest production in April 2023) O—_Oo—® Prod __InBrogross _Complatod Potential for production to commence in 2024 e oO Ptannad __InProgross
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Slide 5: Figure: Truck Loading for Delivery to the Port
Figure 5 : Truck Loading for Delivery to the Port Figure 6 : “Triple Zero” Green Lithium Production
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Slide 7: Commercial Agreements
Commercial Agreements The Company continued to deliver on its strategy of ensuring optimal commercial flexibility while securing premium pricing for its Green Lithium production and delivering on its “zero tailings” strategy through the Yahua Offtake announced on May 26, 2023 and Glencore Offtake an
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Slide 9: Health & Safety
Health & Safety Health and safety remains Sigma’s primary focus at the operating site, and the Company is proud to report the following achievements as of the date of this MD&A: § Substantial Covid-19 suppression, with no cases reported during the first three quarters of 2023 and only 36 cases repor
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Slide 11: Piaui Bridge and Ore Stockpiling on Run of Mine Pad
Note: Red circles in Figures 9 and 10 highlight exposed ore. Figure 11 : Piaui Bridge Figure 12 : Ore Stockpiling on “Run of Mine” Pad
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Slide 13: Phase 2 & 3 Development Progress
PHASE 2 & 3 DEVELOPMENT PROGRESS During the first three quarters of 2023, the Company continued to advance development work for a potential Phase 2 & 3 production expansion, after announcing the results of the Phase 2 & 3 PFS in December 2022. An illustration of the potential production sequencing i
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Slide 15: Contemplated location of Phase 2 & 3 facilities
Note: Figures 13 and 14 show the currently contemplated location, but may be changed following completion of detailed engineering.
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Slide 19: Water for all Program
Figure 19 : Water for all Program Figure 20 : Zero Drought for Small Holder Farmers
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Slide 21: Covering for Outside Sports Court; Renovations of the Local School
Figure 21 : Covering for Outside Sports Court Figure 22 : Renovations of the Local School
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Slide 23: Environmental Programs Updates
Environmental Programs Updates Sigma’s activities during 2022 and the first three quarters of 2023 pertaining to its environmental programs are summarized below. § Zero Tailings Program: The Company is proud to report that it delivered on its “zero tailings” program in May 2023, as it executed up to
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Slide 25: Corporate Governance Updates
Corporate Governance Updates During the first three quarters of 2023, Sigma took steps to further strengthen both its Board and management, which are summarized below. § On January 23, 2023, Ana Cabral-Gardner was appointed to remain as CEO and Co-Chairperson of the Board and Felipe Peres as Senior