Slide 1: Third Quarter 2025 Earnings Release Presentation
Third Quarter 2025 Earnings Release Presentation November 2025 : SGML : SGML : S2GM34
Slide 2: Disclaimer
Disclaimer (…) to risks associated with its reliance on consultants and others for mineral exploration and exploitation expertise; The current COVID-19 pandemic could have a material adverse effect on Sigma’s business, operations, financial condition and stock price; If Sigma is unable to ultimately
Slide 3: Disclaimer
Disclaimer No Offer or Solicitation Regarding Securities This presentation has been prepared by Sigma Lithium Corporation (“Sigma”) for general information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Sigma or its affiliates in any jur
Slide 4: Key Accomplishment of 3Q25: Increased Resilience of the Business
Key Accomplishment of 3Q25: Increased Resilience of the Business 1. Substantial net revenue increase: Achieved optimum commercial strategy ▪ Up 69% QoQ and 36% YoY to US$28 M Generated cash of US$31 M from final price settlements of 3Q25 sales: 2. ▪ Pricing efficiently captures lithium pricing seaso
Slide 5: Financial Highlights of 3Q 25: Increased Cash Margins and Deleveraged
Financial Highlights of 3Q 25: Increased Cash Margins and Deleveraged Revenues Pricing Margins Trade Finance Cash Increased Increased Increased Decreased Increased QoQ and QoQ YoY YoY +69% +42% QoQ (2Q25 vs 3Q25) +33% +42% -43% Current vs 2Q25 Operating Margin Increase QoQ (2Q25 vs 3Q25) YTD as of N
Slide 6: 787+ Consecutive Days Over Years with ZERO Accidents
Over 2 Years with ZERO Accidents Remaining low-cost while maintaining operational excellence One of the World’s Best Safety Records • Employee Engagement & Safety Processes • Direct Connection to Factory Floor • Enhanced Performance • Cost Optimization 787+ Consecutive Days Without Lost Time Injury
Slide 7: Financial Performance
Financial Performance
Slide 8: Achieved Optimum Commercial Strategy
Achieved Optimum Commercial Strategy Pricing strategy efficiently captures price cycles, despite price volatility Sigma Lithium Final Prices vs Provisional Prices (US$/t) Provisional Price Final Price SC6 Lithium Concentrate $1,200 1200 Liberation Day Lithium Prices Volatility $1,000 1000 $800 800 $
Slide 9: 3Q25 Cash Position: Incremental Cash from Final Settlements with Trade Partners
3Q25 Cash Position: Commercial Success Resulted in Incremental Cash from Final Settlements with Trade Partners Cash Flow Bridge (US$ M) Description Trade receivables booked in $20 1 3Q25 @ US$ 847/t (provisional price)(2) 3 1 $33 Increase in Trade 2 Receivables @ US$1,070/t $30 ($27) (current price)
Slide 10: Short-Term Trade Finance Down 60% Year to Date to November
Short-Term Trade Finance Down 60% Year to Date to November Short term trade finance is being gradually replaced with advancements from clients or “mini-offtakes” Short-Term Trade Finance Facilities $ 120 50.00% Export Prepayment Trade Finance (US$ M) 45.00% $101 $ 100 $90 40.00% -60% 35.00% $ 80 Int
Slide 11: Debt Maturity Profile to Be Further Lengthened
Debt Maturity Profile to Be Further Lengthened Monthly Debt Repayment (Millions) 3 Years Paid (high interest) $100.3 $100.0 Being replaced with lower interest or longer duration $16.2 $14.0 $10.0 $9.5 $10.0 $5.0 $5.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.2 $0.2 $0.2 $0.2 $0.2 $0.3 $0.2 $0.2 $0.2 $0.2 Dec
Slide 12: Sigma Lithium Competitiveness: Low-Cost Resilience & Responsible Sourcing
Sigma Lithium Competitiveness: Low-Cost Resilience & Responsible Sourcing Maintained the highest sustainability and ethical sourcing standards Hard-Rock Lithium CIF China Cost-Curve 1,400 1,200 CIF China US$/t Cost of Lithium Concentrate Nov 25 Prices ($1,000) 1,000 800 Sept 25 Prices ($830) 2Q25 Pr
Slide 13: Maintained Low-Cost Per Tonne Position in 3Q25
Maintained Low-Cost Per Tonne Position in 3Q25 (1) (2) Plant Gate Cost CIF Cash Cost with Royalties 9M25 AISC vs FY2025 Guidance (3) US$/Tonne US$/Tonne US$/Tonne +5% +6% +7% $692 $660 +23% +22% $551 $560 $543 $515 $513 $458 $442 $424 $427 $397 $395 $364 $349 $348 $318 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25
Slide 14: Offtake Agreements Expected for 2025: Enable Sustainable and Low-Cost Product
Offtake Agreements Expected for 2025: Enable Sustainable and Low-Cost Product Different types of offtakes in place to cater for specific client needs Agreed Volume US$ M Description Use of Proceeds Status Upon Term 3 months Market Prices Prepayment of production until 80,000t (US$ 80 M @ March 30, 2
Slide 15: Production and Cost Guidance
Production and Cost Guidance Cash flow generation is poised to increase as production efficiency as a strategic plan is conducted Guidance for Production Volumes and Costs per Tonne (US$/t) FY2026E FY2027E (Phase 1 Only) (Phases 1 & 2) Production Volumes 300,000t 550,000t CIF China Cash Cost (440) (
Slide 16: Operational Performance
Operational Performance
Slide 17: Greentech Plant 3.0 Upgrade Was Not Accompanied By Mining
Greentech Plant 3.0 Upgrade Was Not Accompanied By Mining: Plant Outperformance Compensated for Mine ▪ Increased plant recoveries of 70% ▪ Mine did not keep up with industrial plant upgrades concluded in Nov-24 (“Greentech 3.0”) ▪ Mining operational upgrade is required: Reassessed our mining plan ▪
Slide 18: We Mastered the DMS Technology for Lithium Processing
We Mastered the DMS Technology for Lithium Processing: Greater Efficiency and Reliability During 2025 Shall be Matched by Mining Operations PLANT ALREADY RESTARTED ▪ Plant restarted processing high grade material ▪ Target for 2026: to achieve full plant capacity of 300kt ▪ We had been recurringly ac
Slide 19: Low-Cost Global Producer at Large Scale Underpin Support by Clients for Expansion
Low-Cost Global Producer at Large Scale Underpin Support by Clients for Expansion Plan to reach 120,000t of LCE capacity by 2027 via organic growth Nameplate Capacity (tonnes of LCE) 2026: 80,000t of Phase 2 Expansion 2027: 120,000t of Phase 3 Expansion Phase 3 40,000 Phase 2 Phase 2 40,000 40,000 P
Slide 20: Conclusion
Conclusion
Slide 21: Re-Rate Potential as Sigma Delivers Cadence
Re-Rate Potential as Sigma Delivers Cadence Market Cap(1) 2026 Production Guidance $1 0,0 00 M 90 0kt $9 ,00 0 M 845kt 80 0kt $8 ,00 0 M Disconnect 70 0kt $7 ,00 0 M $6,372 M $6,560 M 60 0kt $6 ,00 0 M 50 0kt $5 ,00 0 M 408kt 40 0kt $4 ,00 0 M $3 ,00 0 M 300kt 30 0kt $2,209 M $2 ,00 0 M 192kt 203kt
Slide 22: We Continue to Deliver on our Strategic Plan for 2025
We Continue to Deliver on our Strategic Plan for 2025 1. Conclude offtake agreements Achieve financial strength • Closing final price on provisional YTD contracts 2. • Deleveraging: paid down expensive short-term trade finance debt • Monetizing existing lithium products in current robust pricing env
Slide 23: Q&A
Q&A
Slide 24: Appendix
Appendix
Slide 25: Bridge Between Plant Gate and COGS
Bridge Between Plant Gate and COGS 3Q25 Costs per Tonne Description Plant gate costs per tonne impacted by lower production 3 4 volume 1 $20 $30 Includes operating personal 2 $65 and stock-based $36 compensation 1 $20 $62 CIF cost per tonne above target 2 of US$ 500/t due to lower production volumes
Slide 26: Existing Infrastructure and Mining Operations of Plant 1 To Expedite the Construction of Plant 2
Existing Infrastructure and Mining Operations of Plant 1 To Expedite the Construction of Plant 2 Construction Progress P1 P2 Water Pipelines In Place Power Substation In Place Moving High Voltage Power Lines In Place Sewage Water Treatment Plant In Place Support Infrastructure In Place Pre-Strip Min
Slide 27: SIGMA
W\4 SIGMA LITHIUM