Slide 1: First Quarter 2026 Earnings Release Presentation
First Quarter 2026 Earnings Release Presentation 15th of May 2026 : SGML : SGML : S2GM34
Slide 2: 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 3: 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 4: Sigma Lithium 2026: More Efficient; More Competitive
Sigma Lithium 2026: More Efficient; More Competitive Low Cost, High Growth, Financially Resilient Enhanced Operational Efficiency Brazil: Politically Stable Traditional Country Upgraded Mining in Record Achieving Record Recoveries in Timetable Cleantech Industrial Processing Large Scale Highest Low
Slide 5: Most Profitable Quarter Since Production Started 3 Years Ago
Most Profitable Quarter Since Production Started, 3 Years Ago ▪ Reached Highest Profitability in Our History: ▪ 61% Gross Margin Margins ▪ 39% EBITDA Margin ▪ 26% Profit Margin ▪ Significantly Decreased TOTAL DEBT: Debt & ▪ (33%) in 2 years Cash ▪ (21%) in 1 year ▪ Cash of US$28 million as of May 15
Slide 6: Sigma Lithium Has One of the World's Best Safety Records
Sigma Lithium Has One of the World’s Best Safety Records: 1,010 Days With ZERO Accidents and Fatalities Rigorous Safety Protocols ▪ Employee engagement & strict processes ▪ Direct connection to factory floor ▪ Enhanced performance (1) 1,010+ Consecutive Days Without Lost Time Injury (LTI) 0.00 (ZERO
Slide 7: Financial Highlights of 1Q26
Financial Highlights of 1Q 26
Slide 8: Robust Margins: Financial Resilience and Debt Repayment
Robust Margins: Financial Resilience and Debt Repayment (US$ millions) EBITDA & Total Debt Profitability Operating Revenues Cash Repayment Margins 1Q 26 1Q 26 YoY QoQ 4Q 25 61% 39% (33%) 48% Gross Margin EBITDA (Unadjusted) 2 years QoQ - 3Q 25 US$ 28m 26% 33% (21%) 150% As of May 15, 2026 Net Profit
Slide 9: Significantly Increased Margins: Highest in Our History
Significantly Increased Margins: Highest in Our History Gross Margin EBITDA Margin Operating Margin Net Margin 61% 39% 33% 28% 26% 23% 21% 14% 9% 10% (1%) (19%) 1Q24 1Q25 1Q26 1Q24 1Q25 1Q26 1Q24 1Q25 1Q26 1Q24 1Q25 1Q26 page 9
Slide 10: 75% of Short-Term Bank Trade Debt Repaid in the Last Year
Disciplined Financial Execution: 75% of Short-Term Bank Trade Debt Repaid in the Last Year Short-Term Bank Debt Facilities US$ Millions $ 120 90.00% $101 80.00% $ 100 Interest Rate per Year $90 70.00% -75% Trade Finance (US$ M) $ 80 60.00% $59 $60 50.00% $ 60 -46% $51 40.00% $43 $ 40 $37 30.00% $24
Slide 11: 21% of Total Debt Repaid in the Last Year, 33% Last 2 Years
Disciplined Financial Execution: 21% of Total Debt Repaid in the Last Year, 33% Last 2 Years Total Debt = Short-Term Bank Trade Finance Debt + Shareholder & Development Bank Debt US$ Millions -33% $219 $201 -21% $181 $174 $169 $167 $162 Total Debt (US$ M) $141 $134 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
Slide 12: Offtake Agreements: Enabling Debt Repayment and Growth Capex
Offtake Agreements: Enabling Debt Repayment and Growth Capex Annual Agreed Use of US$ M Description Status Volume Upon Term Proceeds 2025 (1) Prepayment of production Working 70,500t 1 Year US$96M during 2026 capital 3 years Conventional offtake with Debt 40,000t (120,000t) US$50M prepayment Repayme
Slide 13: 1Q26 Cash Position
1Q26 Cash Position Cash Flow Bridge (US$ M) Description Receivables from Lithium 1 Materials Sold and Delivered 5 Includes Prepaid Installments $50 2 of Low-Grade Sales Net Inflows: $ 34 million Repayment of ST Trade 4 3 Finance Bank Debt 1 $22 $40 ($19) 5 Installments of $8m 2 $31 4 Due in 2Q26 of
Slide 14: Sigma Lithium Low Cost Position Underpins Financial Resilience
Sigma Lithium Low Cost Position Underpins Financial Resilience Production, Cost Performance and Results CIF China Lithium Oxide Cost Curve Hard-Rock Lithium CIF China Cost-Curve 1Q26 1Q25 1,400 CIF China US$/t Cost of Lithium Concentrate Revenue (US$M) $42 $48 1,200 Cost of Sales (US$M) ($16) ($35)
Slide 15: Operational Highlights of 1Q26 and Outlook
Operational Highlights of 1Q26 and Outlook
Slide 16: Resumed Sales Cadence of High-Grade Lithium Oxide
Resumed Sales Cadence of High-Grade Lithium Oxide ▪ Fleet Mobilization on Schedule Production Volumes Delivered by Quarter 1 ▪ Combined Sales of LG and HG Funded Upgrade Industrial Production ▪ Mining Ramp Up Tracking to 33kt plan on Cadence 2 Schedule ▪ Achieving 20kt in May 26 ▪ Large Fleet Fully
Slide 17: Robust Cash Flow Generation Forecasted for 2026
Robust Cash Flow Generation Forecasted for 2026 Historical Production Guidance Cash Flow Forecast (Phase 1 and 2 Only) Production US$ Millions 520kt Estimated 12 Month Period (Phase 1) $761m 240kt Phases 1 & 2 180kt $544m 270kt 240kt $327m $330m 200kt $230m $130m 2024 2025 2026E 12 Month Phase 1+2 $
Slide 18: Existing Infrastructure and Mining Operations of Plant
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 19: Expansion to 3X Phase 1 Capacity of 270,000tpy
Expansion to 3X Phase 1 Capacity of 270,000tpy Annual Installed Industrial Capacity (Tonnes of high-grade premium lithium oxide concentrate) Production Phase 1 Production Phase 1 Production Production 2026E 12 Months Phases 1 & 2 Phases 1, 2 &3 Production Industrial Plant 2 fully - funded Industrial
Slide 20: Upgrade, Modernization and Capacity Increase of Mining Fleet
Upgrade, Modernization and Capacity Increase of Mining Fleet page 20
Slide 21: Upgrade, Modernization and Capacity Increase of Mining Fleet
Upgrade, Modernization and Capacity Increase of Mining Fleet page 21
Slide 22: page 22
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Slide 23: Upgrade, Modernization and Capacity Increase of Mining Fleet
Upgrade, Modernization and Capacity Increase of Mining Fleet page 23
Slide 24: Sigma Lithium to Deliver Substantial Returns to Shareholders in 2026
Sigma Lithium to Deliver Substantial Returns to Shareholders in 2026
Slide 25: Continued Cash Flow Generation and Growth Position it for a Re-Rate
Sigma Continued Cash Flow Generation, Production Cadence and Growth to 520,000t (Phase 2) Position it for a Re-Rate Producers Non-Producers $20.0 B Market Cap 12M Foward 24M Foward 120kt LC E 113kt LCE $1 8.0 B 109kt LCE 100kt LCE $1 6.0 B $1 4.0 B 81kt LCE 80kt LC E $1 2.0 B 70kt LCE $1 0.0 B 63kt
Slide 26: Q&A
Q&A
Slide 27: Appendix
Appendix
Slide 28: Upgrade, Modernization and Capacity Increase of Mining Fleet
Upgrade, Modernization and Capacity Increase of Mining Fleet • Upgrade to in-house operation replacing third party contractor • Larger machinery = more productivity • Ongoing larger equipment deployment • Leased equipment reduced operating costs page 28
Slide 29: Proven Industrial Cleantech-Enabled Sustainability Premium
Sale of Lithium Fines Represented Significant Revenues Proven Industrial Cleantech-Enabled “Sustainability Premium” page 29
Slide 30: Suppliers Down 16% in 4Q25 From 3Q25 on a Net Basis to US$22M
Suppliers Down 16% in 4Q25 From 3Q25 on a Net Basis to US$22M US$ Millions Net suppliers (1) In dispute (2) 90.0 M 100 day s In dispute subject to reclassification 80.0 M Net days of payables (excluding in dispute) 89 days 90 days 83 days 70.0 M 78 days 80 days 80 days 70 days 60.0 M 60 days 50.0 M
Slide 31: Sigma Lithium
W\4 SIGMA LITHIUM