Update on Environmental Permitting and Carlota Results

• Public consultation for the Três Estradas Phosphate Project held in Lavras do Sul on the evening of 20 March was attended by +1,500 people with another 2,000 watching a livestream of the event online • Aguia has submitted responses to follow up items from FEPAM • Rock samples from Carlota Target include one sample that returned 48 g/t Au, and 1.63% Cu and another returning 13.4 g/t Au and 0.16%