Sigma Lithium Receives J.P. Morgan "Overweight" Rating

Sigma Lithium Corporation, the largest producer of industrial-mineral lithium oxide concentrate in the Americas, announced today that J. P. Morgan has initiated equity research coverage with an "Overweight" rating. The investment bank's analysts highlighted several key strengths of the company, including its operational de-risking and brownfield growth story, which is being overly discounted on growth and industry risks. The research report, a comprehensive 66-page document, also cited the company's strong sustainability credentials, including its use of 100% renewable electricity, dry-stacked tailings, and zero use of toxic chemicals.

J. P. Morgan's analysts also pointed out that Sigma Lithium's valuation is being underappreciated, as the company trades at a discount to global lithium peers despite having one of the sector's stronger visible growth profiles. The analysts highlighted that the company's volumes can more than double on a modular expansion path, with most enabling infrastructure already built. Phase 1 of the expansion is operating at a nameplate capacity of 330 ktpa, Phase 2 adds another 250 ktpa, and Phase 3 will bring the total installed capacity to 580 ktpa by the end of 2027 and 830 ktpa by the end of 2028. Each incremental line of capacity is expected to cost approximately US$100 million, which is structurally advantaged compared to peers, who typically require US$1,100 per tonne of installed capacity.

The company's leadership team, which includes an experienced group with a track record spanning from development and permitting through construction and production, is praised by J. P. Morgan. The analysts also highlighted the role of A10 Invest, which acted as an early financial sponsor and became the controlling shareholder block, providing patient capital and governance influence as the company moved from exploration into feasibility, permitting, financing, and construction.

The company's sustainability leadership is also recognized, with features such as 100% renewable electricity, dry-stacked tailings, 90% process-water recycling, and no hazardous chemicals. The company's safety record is also commended, with no accidents with lost time in over two years of operation.

Sigma Lithium Corporation is currently at the forefront of environmental and social sustainability in the electric battery materials supply chain. The company's Cleantech Industrial Plant combines the reuse of 100% of water, zero use of toxic chemicals, zero tailings, and the use of 100% renewable electricity. The company is also focused on scaling up its mining operations to advance its expansion plans, with the goal of delivering 240,000 tonnes of lithium oxide concentrate within 12 months and 330,000 tonnes in fiscal year 2027. To download the company's most recent presentation, interested parties can visit the Sigma Lithium website at ir.sigmalithiumcorp.com/investors.

J. P. Morgan's "Initiation of Coverage Report" is available directly from the investment bank. Sigma Lithium Corporation remains focused on scaling up its mining operations to advance its expansion plans, with the goal of delivering 240,000 tonnes of lithium oxide concentrate within 12 months and 330,000 tonnes in fiscal year 2027. To download the Company's most recent presentation, please visit the Sigma Lithium website at ir.sigmalithiumcorp.com/investors.