KYMA CAPITAL PROVIDES EARLY WARNING DISCLOSURE REGARDING SHERRITT INTERNATIONAL CORPORATION

About this update from Sherritt International Corporation

LONDON and TORONTO, Sept. 8, 2026 /CNW/ -- Kyma Capital Limited (" Kyma Capital "), on behalf of a fund managed by it, Kyma Capital Opportunities Master Fund Limited (the " Kyma Fund " and, collectively " Kyma ") announces today that it has entered into a cooperation agreement (the " Cooperation Agreement ") with certain other holders (collectively, the " Holders ") of 9.25% senior second lien secured notes due November 30, 2031 (the " Notes ") issued by Sherritt International Corporation (" Sherritt ") in their capacities as holders, beneficial holders and/or investment managers of the Notes. The Holders beneficially own, or exercise control and direction over, more than 50% of the aggregate principal amount of outstanding Notes. The Cooperation Agreement establishes an ad hoc noteholder group to engage collectively with Sherritt and other stakeholders regarding any potential recapitalization, refinancing, restructuring, sale or other transaction involving Sherritt. Subject to specified exceptions, the Holders have agreed to negotiate regarding such transactions only through the ad hoc group and not to support a transaction unless certain agreed upon terms and conditions are satisfied. The Cooperation Agreement terminates upon the earlier of completion of an approved transaction and 180 days after the effective date of the Cooperation Agreement, subject to extension or earlier termination in accordance with its terms. The Cooperation Agreement also expressly confirms that the Holders do not intend to act jointly or in concert for securities law purposes. Before and after entering into the Cooperation Agreement, and as of the date hereof, Kyma has ownership of, or control or direction over, 94,562,842 common shares of Sherritt (the " Common Shares "), representing 13.4% of the issued and outstanding Common Shares. All such Common Shares are beneficially owned by the Kyma Fund, and Kyma Capital exercises control and direction over all such Common Shares as investment manager for the Kyma Fund. In addition, third parties advised by Kyma Capital are the beneficial owners of, and exercise control and direction over, a further 8,571,429 Common Shares, which, together with the Common Shares over which Kyma has ownership, or control or direction, represent 14.7% of the issued and outstanding Common Shares. As of the date hereof, Kyma also has ownership of, or control or direction over, $61,880,099 aggregate principal amount of Notes. All such Notes are beneficially owned by the Kyma Fund, and Kyma Capital exercises control and direction over all such Notes as investment manager for the Kyma Fund. In addition, third parties advised by Kyma Capital are the beneficial owners of, and exercise control and direction over, a further $15,236,000 aggregate principal amount of Notes. Kyma holds the Common Shares and Notes for investment purposes. Subject to applicable law and depending on various factors, Kyma may acquire or dispose of additional securities of Sherritt, participate in or propose transactions involving Sherritt or any of its subsidiaries, engage with the board of directors, management and other stakeholders of Sherritt, and take any action available to it as a shareholder or securityholder of Sherritt. Kyma is participating as an equity financing participant in a consortium that submitted a non-binding recapitalization proposal to Sherritt's board of directors on June 26, 2026. Kyma has also commenced a court application in connection with its requisition for a special meeting of Sherritt shareholders to consider changes to Sherritt's board of directors. Kyma may change its plans or intentions at any time and from time to time and may take any action described above without prior notice, subject to applicable law. Except as otherwise disclosed in Kyma's early warning report regarding this transaction, no future course of action has been determined, and any future action will depend on the circumstances existing at the relevant time. In accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues , Kyma will file an early warning report regarding this transaction on the System for Electronic Data Analysis and Review+ (SEDAR+) at www.sedarplus.ca  under Sherritt's issuer profile. Sherritt's head office is located at 200 Bay Street, South Tower, Suite 1302, Toronto, Ontario, Canada M5J 2J3. About Kyma Kyma Capital is a limited company existing under the laws of England and Wales. Kyma Capital's address is 1 Duchess Street, London, UK, W1W 6AN. The Kyma Fund is a Cayman Islands-registered master fund managed by Kyma Capital. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements are often, but not always, identified by words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are not historical facts but reflect Kyma's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Kyma believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and, except as may be required by applicable law, Kyma disclaims any intention and assumes no obligation to publicly update or revise such forward-looking statements whether as a result of new information, future events or otherwise. View original content: http://www.newswire.ca/en/releases/archive/September2026/08/c6852.html

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