2Q OPERATIONAL HIGHLIGHTS (USD) Sigma Lithium achieved "all-around" operational efficiency in 2Q24, reaching metrics of larger seasoned producers: Further increased cadence of volumes sold of Quintuple Zero High Purity Lithium Concentrate ("5.0 Green Lithium") Achieved sales volumes of 52,572t in 2Q24 The Company expects total production of 5.0 Green Lithium in 3Q 24 of 60,000t Continues to increase sales price premium relative to peer lithium producers: Maintained average of 10% price premiumization year to date Established track record of delivering high quality lithium materials to leading supply chains, increasing commercial assertiveness and flexibility Diversified commercial relationships by selling and engaging with new South Korean industrial, trading and battery manufacturing companies Sigma's 11th shipment sold to a large Japanese large industrial conglomerate Implemented culture of excellence and high standards, driving overall productivity and top global indexes of employee safety & health: 1 Year: ZERO fatalities, ZERO acidentes 2nd place amongst world's largest metals and mining companies (ICMM ranking) 2Q FINANCIAL HIGHLIGHTS (USD) Revenues from volumes of lithium concentrate sold in 2Q totaled $54.4 million Reported revenue totaled $45.9 million Achieved cost guidance ahead of schedule: 22% reduction in unit cash costs year to date, amongst the lowest in the sector CIF equivalent (1) cash costs of $515/t / (2024 Guidance: $510/t) FOB cash costs of $424/t / (2024 Guidance: $420/t) Cash costs at industrial plant gate averaging $364/t / (2024 Guidance: $370/t) Robust adjusted cash EBITDA margins of 29%, up from 16% in 1Q 24 Consistent operational performance and reliability of monthly shipments results in robust access to liquidity via export-linked credit lines at attractive interest rates: Comfortable liquidity position with cash balances as of August 14 of $99 million Decreased cost of debt linked to export financing: From 15% per year in Jan. 24 to <6% per year (in USD) Conference Call Information The Company will conduct a conference call to discuss its financial results for the second quarter at 8:00 a.m. EST on Friday, August 16, 2024. Participating in the call will be Co-Chairperson and Chief Executive Officer, Ana Cabral and the Executive Vice President for Corporate Affairs and Strategic Development, Matthew Deyoe. To register for the call, please proceed through the following link Register here. For access to the webcast, please Click here. SÃO PAULO, Aug. 16, 2024 /PRNewswire/ -- Sigma Lithium Corporation (NASDAQ:SGML, BVMF: S2GM34, TSXV:SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable Quintuple Zero High Purity Lithium Concentrate ("5.0 Green Lithium"), today announced its results for the second quarter ended June 30, 2024. The Quarterly Filings and accompanying Management Discussion and Analysis ("MD&A") will be available on SEDAR+ (www.sedarplus.ca), EDGAR (www.sec.gov) and the Company's corporate website. Ana Cabral, Co-Chairperson and CEO said: "We are extremely pleased to present Sigma's robust financial results. This quarter, we achieved operational excellence on key fronts: Continuing to deliver the sales volume cadence of a seasoned producer, maintaining premiumization of our 5.0 Green Lithium while further diversifying our commercial relationships by selling to new geographies such as Japan and South Korea. We focused on increasing our robust cash margins, maintaining our draconian cost discipline culture, leading Sigma to achieve our 2024 cash cost guidance this quarter, ahead of schedule. "Operationally, the Company has invested in improving the throughput and recovery at our Greentech plant, which will bear fruit in the third quarter further increasing the efficiency of the operations. As a result, we are forecasting our 3Q sales to reach 60,000t, which will bring the extra benefit of a further decrease of our unit costs", Ana concluded. Operational Update Sigma Lithium is pleased to celebrate its first full year of shipments at Grota do Cirilo, achieving the operational excellence of a seasoned lithium producer: Reaching regular cadence of 22,000t shipments, delivering the second highest operational employee safety index globally (achieving the high standards equivalent to the second place at ICMM rankings (International Council of Metals and Mining), while maintaining high cash margins of 54% (FOB Brazil), equal to larger peer companies. During 2Q, Sigma Lithium sold 52,572t of its 5.0 Green Lithium. The Company made two full shipments during the quarter, with an additional sale FOB Brazil Port totalling 17,270 tonnes at the end of 2Q'24. The Company continued a strategy initiated in the 1Q 24, when it delivered 8,700 tonnes (ultimately shipped in April 24) in a similar FOB Brazil Port sale agreement. Looking forward, the Company has deployed significant operational improvements at the Greentech Plant, which should drive yield and recoveries: Developed enhancements to the flowsheet to increase recoveries and operational efficiency, which brings an additional production boost by allowing reprocessing of previously dry stacked lithium high quality fines (at 1.5% Li2O). Results of these improvements already reflected in production levels of Jul. 24 and Aug. 24 driving 3Q 24 sales guidance. Lithium concentrate production in the second quarter totaled 49,389t, compared to 54,168t in 1Q24. The change is primarily related to the replacement of a crusher module which occurred in June. Production has since normalized and continued to increase in July and August. For the third quarter, the Company expects to produce roughly 60,000 tonnes of 5.0 Green Lithium. Commercial Update Establishing a track record as a reliable supplier to the battery supply chain has enabled the Company to increase its commercial independence. This has led to a diversification of sales and commercial relationships by engaging with new South Korean and Japanese industrial, trading and battery manufacturing companies. During the second quarter, the Company internalized additional logistics and commercial functions, leading to further efficiency and cost savings of approximately $20/t per shipment. The improved commercial capabilities allowed Sigma to capture stronger market opportunities as they arose during the quarter. Pricing mechanisms were also quite varied in 2Q, as Sigma deployed fixed price, fixed floating ratios and provisional price models in its negotiations. Going forward, the Company will continue to remain flexible with its commercial strategy to maximize the value for its premium product.  Financial Update Key Performance Metrics for Quarter Ended June 30, 2024 ($ USD) Unit 2Q24 1Q24 Reported Revenue $ 000s 45,920 37,202 Concentrate Sold tonnes 52,572 52,857 Concentrate Grade Produced % 5.35 % 5.40 % Average Reported Selling Price CIF (1) $/t 1,056 1,010 Average Realized Price CIF (2) $/t 894 785 Unit Operating Cost (3) $/t 364 397 Adjusted Cash EBITDA (4) $ 000s 13,288 5,878 Net Income $ 000s (10,848) (6,962) Cash and Cash Equivalents $ 000s 75,330 108,191 Accounts Receivable $ 000s 65,652 29,027 Revenues in the second quarter totaled USD $46 million, implying a realized CIF equivalent sales price(2) of $894/t. Provisional price adjustments continued to impact results although at much lower levels than in 4Q23 and 1Q24. The Company notes that the average CIF equivalent price for product shipped during 2Q (1) was $1,056/t. Sigma Lithium's focus on dynamic pricing strategies, combined with a disciplined cost focus, led the Company to achieve the second-highest FOB unit cash margins amongst lithium producers in the second quarter, at 54%. Year to date, cash unit operating costs have declined by 22%, leading the Company to achieve its guided cost structure ahead of schedule. Cash unit operating costs(3) for lithium concentrate produced at the Company's Grota do Cirilo operations in the second quarter averaged USD $364/t. On an FOB Vitoria basis (which includes transportation and port charges) costs averaged USD $424/t. On a CIF China equivalent basis (includes ocean freight, insurance and royalties) costs averaged $515/t. Sigma Lithium expects to further decrease its unit costs as it continues to increase the efficiency and recoveries of the Greentech Plant increasing production volumes and leveraging fixed-costs. The Company delivered second quarter cash adjusted EBITDA(4) of $13.3 million (C$18.2 million), reflecting a margin of 29%. Reported EBITDA for the second quarter totaled $8.6 million (C$11.9 million). The cash adjusted EBITDA number excludes $0.7 million (C$1.0 million) of non-recurring expenditures, primarily related to legal initiatives, nearly $2 million (C$2.7 million) in non-cash, non-operating, accruals adjustments, and $1.9 million (C$2.6 million) in non-cash stock-based compensation expenses. Net income in the quarter totaled -$10.8 million (C$14.8 million), or -$0.10 per diluted share outstanding. Headline net income was impacted by $14.6mn in non-operating currency related adjustments, the vast majority of which were non-cash in nature. Phase 2 Expansion Recall, on April 1, 2024, the Board of Directors announced a Final Investment Decision ("FID") for the Company's Phase 2 Greentech Plant expansion. The project is expected to add 250,000 tonnes of production capacity to the current Phase 1 operation. The Company has begun land clearing and fauna suppression to ready the site for formal earthworks. Total building and commissioning are expected to occur over a 12-month period. The total expected capex for the Phase 2 construction is $100 million (C$136 million), and the Company has already secured all relevant environmental licenses to build and operate its second Greentech Plant. Balance Sheet & Liquidity  Sigma Lithium ended the second quarter with $75.3 million (C$103 million) in cash and cash equivalents. The sequential decline is largely related to the timing of cash receivables and a reduction in our payables balance. As of the time of filing, the Company's cash balance had returned to $99 million. At the end of the quarter, the Company had $219 million (C$300 million) in short-term loans and export prepayment liabilities. This included $99 million ...