S.TO · 2020-09-28 12:00:00

Sherritt Publishes its 2019 Sustainability Report

Corporate Updates

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, September 28, 2020 – Sherritt International Corporation ("Sherritt") (TSX: S) today

released its 2019 Sustainability Report that outlines the company’s approach to sustainability and

performance for the year. The report, which was prepared in accordance with the Global

Reporting Initiative’s Standards, is available online at https://sustainability.sherritt.com/2019/

“Our corporate purpose is to be a low-cost nickel producer that creates sustainable prosperity for

all stakeholders,” said David Pathe, President and CEO of Sherritt International. “Fulfilling this

promise increasingly requires that we take environmental, social and governance considerations

into account when developing and implementing our strategies. Our efforts in 2019 were

encouraging, despite the liquidity constraints, volatile commodity prices and unique geopolitical

challenges we faced. Building on this performance will be key – and critical – to our long-term

success.”

The report contains Sherritt’s 2019 performance in support of its goal of being recogniz ed as a

responsible supplier as measured against the four pillars of its Sustainability Framework:

Providing a Safe and Rewarding Workplace; Operating Ethically; Demonstrating Environmental

Responsibility; and Engaging Stakeholders and Benefitting Communities.

2019 Sustainability highlights include:

 Maintained Scope 1 greenhouse emissions comparable to 2018 despite an increase

in finished nickel and cobalt production in 2019 of 8% and 4%, respectively.

 Achieved peer-leading safety performance over a three-year period. During this time,

Sherritt’s Total Lost Time Injury Frequency Rate (LTIFR) decreased by 76%.

 Reported an 81% reduction in hazardous waste at the refinery in Fort Saskatchewan,

58% reduction at the Moa nickel site, and achieved an overall reduction in waste of

68% from last year. The reduction was due to a decline in construction activities from

the previous year.

 Continued to support a road safety program by UNICEF for children in Cuba.

 Generated more than $500 million in economic benefits for host communities where

Sherritt maintains operations, including Canada and Cuba.

 Partnered with the Trans Canada Trail on the completion of a key component of the

Great Trail in Fort Saskatchewan.

About Sherritt

Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and

operations in Canada and Cuba. The Corporation is the largest independent energy producer in

Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary

technologies and provides metallurgical services to mining and refining operations worldwide. The

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

For further information, please contact:

Joe Racanelli, Director of Investor Relations

Telephone: (416) 935-2457

www.sherritt.com