Slide 1: Second Quarter 2025 Earnings Release Presentation
Second Quarter 2025 Earnings Release Presentation Aug 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: Competitive Resilience From Operational Excellence, Low-Cost Production and Unique Commercial Support
Competitive Resilience From Operational Excellence, Low-Cost Production and Unique Commercial Support Positioned to Benefit from Cyclical Recovery Maintained Operational Excellence: Delivering Production at Large Scale ▪ 270,000t of lithium concentrate per year: 40,000t/y LCE equivalent ▪ Perfected
Slide 5: 735+ Consecutive Days
Operational Excellence Driven by a Culture of Safety and Processes One of ICMM’s Best Safety Records ▪ Strengthening Health, Safety & Environment Strategy ▪ Employee Engagement & Safety Leadership ▪ Workshops & Safety Culture Development 735+ Consecutive Days Without a Lost Time Injury (LTI) 1.92 (1
Slide 6: 2Q25 Highlights: Decreased Costs, Maintained Production Scale, Deleveraged
2Q25 Highlights: Decreased Costs, Maintained Production Scale, Deleveraged Lowered Costs Deleveraged Production (Quarterly) (Quarterly) (ST Debt) -4% 2Q24 40% 2Q24 -57% 2Q24 $348/t 68,368 t $101 Million Plant Gate Cost 2Q25 Production 2Q24 ST Trade Finance 49,389 t -14% -15% 2Q24 Production 2Q24 1Q2
Slide 7: Strong Production Cadence Profile: On Track to Deliver 2025 Production Target
Strong Production Cadence Profile: On Track to Deliver 2025 Production Target Commercial strength enabled decision to store production during a few weeks of intensive price volatility Production Volume Annual Production Production Sales Annualized Production +40% +13% 308kt 273kt 274kt 270kt 240kt 2
Slide 8: Focus on Execution Delivered Operational Performance on Targets
Focus on Execution Delivered Operational Performance on Targets Volumes (Quarterly) Revenue (Quarterly) Production Volumes Gross Sales Revenues 68,368 t $21.1 M Sales Volumes Final and Provisional Price 40,350 t Adjustments Inventories Volumes ($5.5) M 28,018 t Liquidity (Quarterly) Average Provisio
Slide 9: Phase Update
Phase 2 Update —
Slide 10: Existing Infrastructure and Mining Operations of Plant 1 will Expedite Construction of Plant 2
Existing Infrastructure and Mining Operations of Plant 1 will 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 M
Slide 11: Advances Towards Phase 2 Expansion Focusing on Preparing Mine for Increased Volumes
Advances Towards Phase 2 Expansion Focusing on Preparing Mine for Increased Volumes
Slide 12: Financial Highlights
SIGMA WALT RMUAL Financial Highlights
Slide 13: Maintained Low-Cost Leading Position on an All-In Basis
Maintained Low-Cost Leading Position on an All-In Basis: Demonstrating Financial Discipline (1) (2) (3) Plant Gate Cost CIF Cash Cost with Royalties All-In Sustaining Costs USD/Tonne USD/Tonne USD/Tonne -24% -23% -14% $775 $779 $761 -4% -20% $622 $592 $594 -12% $551 $515 $513 $458 $442 $427 $397 $39
Slide 14: All-In Sustaining Cost Better than Target: Ability to Navigate Lithium Price Cycles
All-In Sustaining Cost Better than Target: Ability to Navigate Lithium Price Cycles Reported 2Q25 Forecast 25E and 26E 68,308/Q = 273,200t/Y 270,000t/Y 520,000t/Y Financial Expenses -10% SG&A Maintenance Capex $660 $594 $70 $6 $70 $55 $527 $35 $35 $442 $65 $30 $12 $35 $500 $427 2Q25 CIF China Mainte
Slide 15: Provisional Price Strategy: Underpins Upside and Risk-Sharing Relationships With Clients
Provisional Price Strategy: Underpins Upside and Risk-Sharing Relationships With Clients Generated accounting adjustment of (US$4mm) to close the opened invoices 2Q25 Reported Sales Revenue YTD 2025 Reported Sales Revenue $5.5 $1.2 $6.9 $68.8 $2.6 $21.1 $16.9 $64.6 Gross Sales Final and Provisional
Slide 16: Sigma Has Proven Capability to Navigate Lithium Price Seasonality
Sigma Has Proven Capability to Navigate Lithium Price Seasonality Consistently achieving premium realized prices versus market benchmarks through disciplined commercial strategy Sigma Realized Prices vs Fastmarkets Bulletin (USD/t) Provisional Price Final Price Spodumene SC6 1000 $966/t 900 800 700
Slide 17: Decrease in Trade Finance Short-Term Debt As a Result of Continuous Working Capital Efficiency
Decrease in Trade Finance Short-Term Debt As a Result of Continuous Working Capital Efficiency Decreased Short-Term Trade Finance Facilities $ 120 30.00% -57% Export Prepayment Trade Finance Balance (US$ M) $101 $ 100 25.00% $90 $ 80 20.00% Interest % per Year -16% $59 $60 $ 60 15.3% -24% 15.00% $51
Slide 18: Offtake Strategies
Offtake Strategies Geographically diversified offtake strategy with three counterpart categories: Potential Value of Agreement: Counterparties: Trading & Corporate Quantity Duration Counterparty to Secure Prepayment 1. 40kt per company 3 years: 1. Western Trading Companies USD 50 mm each 40,000t 2.
Slide 19: Financial Discipline and Ethos of Long Term Private Equity Investors
Financial Discipline and Ethos of Long Term Private Equity Investors: Focus on Burn Rate, Resilience and Ability to Generate Operational Cash Flow Cash Flow Bridge Description 1 Increase in 2Q25 Trade Customer Receivables: $10 Receivables Due to Quarter- ▪ Portion of Customer End Cutoff Timing 1 Rec
Slide 20: Reported Cash Cost Better than Target: Achieved Economies of Scale
Reported Cash Cost Better than Target: Achieved “Economies of Scale” from Increased Production Volumes 2Q25 Unit Operating Cash Cost Bridge (Cost per Ton) Description Stable QoQ Low Cost 4 1 Includes Operating Personal 3 $48 Stock-Based Compensation, $31 Effective 2025 2 $64 $30 $7 1 $56 CIF Cost 8%
Slide 21: Conclusion
Conclusion
Slide 22: Sigma Lithium Delivered: Low Cost Enabled Resilience to Navigate 2Q Volatility
Sigma Lithium Delivered: Low Cost Enabled resilience to Navigate 2Q Volatility Low-Cost Production, Without Sacrificing Sustainability and Ethical Sourcing Hard-Rock C3 cost-curve 1,400 1,200 CIF China U$/t Cost of Lithium Concentrate 1,000 Aug 2025 Prices 800 2Q25 Prices 600 400 200 - - 500 1,000 1
Slide 23: Sigma Lithium Continues its Expansion to Cement Global Leadership in Lithium Industry
Sigma Lithium Continues its Expansion to Cement Global Leadership in Lithium Industry Organic Growth Plans to Reach 120,000t of LCE Capacity by 2026 Nameplate Capacity (tonnes of LCE) 2024: Efficiency Initiatives to 2026: Completion of Phase 2 2027: Completion of Phase 3 Plant 1 Plant Plant Producti
Slide 24: Over the Year Sigma Lithium was Transformed into a Leading Producer
Over the Year Sigma Lithium was Transformed into a Leading Producer: Resilient to Cycles Operational discipline, low cost and large scale FID Phase 2 and Mobilization Achieved Financial Independence: Large Trade Finance Lines at Low Rates Increase Mineral Reserves by 40% Signed Transformative Began
Slide 25: Q&A
Q&A
Slide 26: Appendix
Appendix
Slide 27: We Successfully Solved The Puzzle of Competitive Advantage
We Successfully Solved The “Puzzle of Competitive Advantage” Scale + Low Costs Traceability + Low Costs Scale + Traceability = = = Price Cycle Resilience Competitive Sells to Largest Supply Advantage to Africa Chains Low Construction Capex Management Speed of Location in Developed = Execution Mining
Slide 28: Operations Data Summary
Operations Data Summary 2025 2024 Variations In US$ 000’s, Unless Statated Otherwise 2Q25 1Q25 1H25 2Q24 1Q24 1H24 YoY HoH QhQ Sales (t) 40,350 61,584 101,934 52,572 52,857 105,429 (3,494) (3,494) (12,221) Average Provisional Price (US$/t) 524 777 - 1,071 907 - - - (547) Production (t) 68,368 68,308
Slide 29: Sigma Lithium
W\4 SIGMA LITHIUM