Sigma Lithium Advances Construction to Double Capacity and Provides FY2024 Preview and FY2025 Guidance
| 1
SIGMA LITHIUM ADVANCES CONSTRUCTION TO DOUBLE
CAPACITY AND PROVIDES FY2024 PREVIEW AND FY2025
GUIDANCE
February 24, 2025. São Paulo, Brazil – Sigma Lithium Corporation (TSXV/NASDAQ: SGML, BVMF:
S2GM34) (“Sigma Lithium” or the “Company”), a leading global lithium producer dedicated to powering the
next generation of electric vehicles with carbon-neutral, socially and environmentally sustainable lithium
concentrate, provides an update on its advancement of the construction of its second Greentech industrial
plant to double its production capacity of lithium oxide concentrate.
The Company’s Co-Chairperson and CEO, Ana Cabral, will present at the BMO Global Metals, Mining & Critical
Minerals Conference on Tuesday, February 25, 2025, at 9:00 am ET. The presentation will be webcast live at
this link and will include the following disclosure of the Company’s expected financial and operational metrics
for the fourth quarter and full year of 2024, production volumes outlook for 2025-2026 period, and cost
guidance for the full year 2025.
Q4 2024
Financial and Operational metrics1 Unit 4Q 2024
Production Volumes duction Volumes tonnes 77,000
Unit Operating Cash Cost Plant Gate US$/t 318
Unit Operating Cash Cost FOB Brazil US$/t 367
Unit Operating Cash Cost CIF China US$/t 427
FY 2024
Financial and Operational metrics1 Unit FY 2024
Unit Operating Cash Cost CIF China duction Volumes US$/t 494
Underlying Revenue millions of US$ 181
Cash gross margin % 41
Underlying EBITDA millions of US$ 46
Underlying EBITDA margin % 25
2025-2026 Outlook
Production Volumes Unit FY 2025 FY 2026
Production Volumes Plant 1 Volumes tonnes 270,000 270,000
Production Volumes Plant 2 tonnes 30,000 250,000
Total tonnes 300,000 520,000
2025 Cost Guidance
Unit Operating Cost1 Unit FY 2025
Cash Cost CIF China US$/tonne 500
The accompanying slides have been made available on the Company’s investor relations website.
1Financial metrics are based on the expected results for the twelve months ending December 31, 2024. Underlying revenue represents
expected revenues for the twelve months ending December 31, 2024 , excluding non-cash provisional price adjustments for the 2023
shipments (“Adjustments”). Unit operating Plant Gate costs include mining, processing and on -site G&A expenses. It is calculated on an
incurred basis, credits for any capitalised mine waste development costs, and it excludes depreciation, depletion and amortization of mine
and processing associated activities. Whe n reported on FOB basis it includes trucking, warehousing and port related expenses. CIF
reported cash costs include ocean freight, insurance and royalties. Cash gross margin is revenue, net of Adjustments and net of cost of
products sold (excluding D&A), expressed as a percentage of reported revenues. Underlying EBITDA is expected EBITDA for the t welve
months ending December 31, 2024, excluding non-cash stock-based compensation and Adjustments.
| 2
UPDATE ON CONSTRUCTION TO DOUBLE PRODUCTION CAPACITY
Sigma Lithium is on track to double its production capacity in 2025, with commissioning expected to begin in
Q4 2025. A video of our construction progress is available for viewing here.
To date, the company has successfully completed 100% of the foundation earthworks for the second
Greentech industrial plant, staying on schedule and within budget. The first cement has been poured, and
construction has advanced to civil works, including the completion of water drainage infrastructure for the
second industrial site. In addition, detailed engineering with technical specifications has been completed for
certain key equipment items with long manufacturing lead times (long-lead items). Procurement and contractual
negotiations have been completed, and orders for these items are expected to be placed within the current
quarter. Initial deliveries of the plant's equipment are expected to commence in June 2025, followed by the
assembly of mechanical structures.
Currently, there are 100 people working on the expansion project, with plans to increase the workforce to 1,000
at peak construction. The Company has also accelerated its homecoming program with the creation of a
training center for heavy machinery operators in one of the neighboring communities.
Sigma Lithium has secured a US$100 million development bank credit line from BNDES to fully fund the
construction. The Company decided to continue advancing its construction, despite the current lithium cycle,
due to our low capital expenditure intensity (capex per tonne of capacity built). This efficiency is driven in part
by our existing infrastructure, which supports the additional Greentech Industrial Plant and enables us to fast-
track construction timelines while controlling costs.
As one of the world’s lowest-cost producers, Sigma Lithium is well-positioned to leverage economies of scale
as we expand our capacity. This will further enhance our cost efficiency, diluting unitary costs per tonne, as
certain production costs, including G&A, are fixed. With the lithium market expected to experience significant
growth by the end of the decade, we are strategically positioned to meet the rising demand and capitalize on
this opportunity for sustained long-term growth and success.
ABOUT SIGMA LITHIUM
Sigma Lithium (TSXV/NASDAQ: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the
next generation of electric vehicle batteries with carbon-neutral, socially and environmentally sustainable chemical-grade
lithium concentrate.
Sigma Lithium is one of the world’s largest lithium producers. The Company operates at the forefront of environmental and
social sustainability in the electric vehicle battery materials supply chain at its Grota do Cirilo Operation in Brazil. Here,
Sigma produces Quintuple Zero Green Lithium at its state -of-the-art Greentech lithium beneficiation plant, delivering net
zero carbon lithium, produced with zero carbon intensive energy, zero potable water, zero toxic chemicals and zero tailings
dams.
Phase 1 of the Company’s operations entered commercial production in the second quarter of 2023. The Company has
issued a Final Investment Decision, formally approving construction to double capacity to 520,000 tonnes of lithium
concentrate through the addition of a Phase 2 expansion of its Greentech Plant.
For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Irina Axenova, Vice President Investor Relations
[email protected] | +55 11 2985 0089
Sigma Lithium
Sigma Lithium
@sigmalithium
@SigmaLithium
| 3
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation,
including but not limited to statements relating to timing and costs related to the general business and operational outlook
of the Company , the environmental footprint of tailings and positive ecosystem impact relating thereto, donation and
upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements and projections relating to
the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the operational status of the Groto
do Cirilo Project, and other forward -looking information. All statements that address future plans, activities, events,
estimates, expectations or developments that the Company believes, expects or anticipates will or may occur is forward -
looking information, including statements regarding the potential development of mineral resources and mineral reserves
which may or may not occur. Forward -looking information contained herein is based on certain assumptions regarding,
among other things: general economic and political conditions; the stable and supportive legislative, regulat ory and
community environment in Brazil; demand for lithium, including that such demand is supported by growth in the electric
vehicle market; the Company’s market position and future financial and operating performance; the Company’s estimates
of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves;
and the Company’s ability to operate its mineral projects including that the Company will not experience any materials or
equipment shortages, any labour or service provider outages or delays or any technical issues . Although management
believes that the assumptions and expectations reflected in the forward -looking information are reasonable, there can be
no assurance that these assumptions and expectations will prove to be correct. Forward -looking information inhere ntly
involves and is subject to risks and uncertainties, including but not limited to that the market prices for lithium may not
remain at current levels; and the market for electric vehicles and other large format batteries currently has limited market
share and no assurances can be given for the rate at which this market will develop, if at all, which could affect the success
of the Company and its ability to develop lithium operations. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention
or obligation to update or revise any forward -looking information, whether because of new information, future events or
otherwise, except as required by law. For more information on the risks, uncertainties and assumptions that could cause
our actual results to differ from current expectations, please refer to the current annual information form of the Company
and other public filings available under the Company’s profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.