Sherritt Announces Revocation of Failure to File Cease Trade Order

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OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt Announces Revocation of Failure to File Cease Trade Order

TORONTO, July 10, 2026 – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced

that, further to its news release on June 25, 2026, the Ontario Securities Commission has revoked the failure to file

cease trade order (the “FFCTO”) previously placed on the Corporation’s securities on May 21, 202 6 as a result of the

Corporation’s failure to file its unaudited interim financial statements, management's discussion and analysis, and

related officer certifications for the three months ended March 31, 2026 (the “ Q1 2026 Filings”). The Q1 2026 Filings

were filed by Sherritt on June 25, 2026.

With the revocation of the FFCTO, trading in the Corporation's securities through the facilities of the Toronto Stock

Exchange resumed earlier today.

About Sherritt

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed

critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals

processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources.

The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt

refinery and one of just three nickel refineries in North America.

Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

For further information, please contact:

Investor Relations

Email: [email protected]

Telephone: (416) 935-2451

www.sherritt.com

Forward-Looking Statements

Certain statements and other information included in this press release may constitute “forward -looking information”

or “forward -looking statements” (collectively, “forward -looking statements”) under applicable securities laws (such

statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”,

“estimate”, “intend” or other similar words).

All statements in this press release, other than those relating to historical information, are forward-looking statements.

The Corporation cautions readers of this press release not to place undue reliance on any forward -looking statement

as a number of factors could cause actual future results, conditions, actions or events to differ materially from the

targets, expectations, estimates or intentions expressed in the forward -looking statements. Such factors include,

without limitation, continued risks related to Sherritt’s operations in Cuba and future actions taken by the U.S.

government toward Cuba, including with respect to the Executive Order; level of liquidity of Sherritt, including access

to capital and financing; the risk to or loss of Sherritt’s entitlements to future distributions (including pursuant to the

Cobalt Swap) from the Moa JV; the inability of the Corporation to comply with debt restrictions and covenants; the

inability of the Corporation to comply with the listing requirements of the Toronto Stock Exchange or another recognized

stock exchange; uncertainty in the ability of the Corporation to enforce legal rig hts in foreign jurisdictions; uncertainty

regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; tax risks; political, economic

and other risks of foreign operations; security market fluctuations and price volatili ty; risks related to environmental

liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with

applicable environment, health and safety legislation and other associated matters; risks associated with governmental

regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining

social license to grow and operate; risks associated with the operation of large projects generally; the ability to replace

depleted mineral reserves; risks associated with the Corporation’s joint venture partners; risks associated with mining,

processing and refining activities; reliance on key personnel and skilled workers; risks related to the Corporation’s

corporate structure; foreign exchange and pricing risks; credit risks; future market access; interest rate changes; risks

in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s

accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or

changes to, applicable government regulations. The key risks and uncertainties should be considered in conjunction

with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities,

including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three

months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026

for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca. The forward -looking

information and statements contained in this press release are made as of the date hereof and the Corporation

undertakes no obligation to update publicly or revise any oral or written forward -looking information or statements,

whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

The forward -looking i nformation and statements contained herein are expressly qualified in their entirety by this

cautionary statement.