São Paulo, Brazil--(Newsfile Corp. - May 29, 2026) - The A10 Global Fund, L.P. ("A10 Global"), managed by A10 Invest Ltda. ("A10 Invest"), which pursues an investment mandate focused on publicly traded global equities of companies positioned to benefit from macroeconomic trends driving accelerated growth in worldwide demand for critical minerals, announces that it has recently added to its position in common shares of Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) (BVMF: S2GM34) ("Sigma Lithium" or the "Company"). A10 Global's aggregate purchases during any rolling twelve-month period remained below 5% of Sigma Lithium's issued and outstanding common shares.

INVESTMENT RATIONALE AND MARKET CONTEXT

A10 Global invests in publicly listed equities globally. Since inception in June 2025, the fund has delivered an annualized return of 177% with an annualized Sharpe ratio of 1.94, representing a balanced management of risk and returns.

The fundamental rationale for A10 Global's investment in Sigma Lithium is a conviction in the Company's ability to deliver strong operational performance, as evidenced by its most recent quarterly results. Sigma Lithium's pioneering clean-tech industrial capabilities enable the Company to produce lithium concentrate at costs lower than those of African producers, while upholding the high operational standards typically associated with Australian and Canadian producers. Sigma Lithium's resilient role in the global lithium supply chain for both Asian and Western large downstream clients throughout cycles, has positioned the Company as a significant beneficiary of rising worldwide demand for battery materials and the resulting current favorable lithium pricing environment.

The investment case for A10 Invest results from a combination of macroeconomic and microeconomic elements.

• Macroeconomic elements, learned during our most recent field trip to Asia:

  • An acceleration in the global electrification of mobility driven by recent spikes in fuel prices has led to a stronger consumer adoption of electric vehicles in the EU and a faster implementation of electrification policies in China, particularly for trucks and barges. In parallel, the rapid expansion of the global defense industry's use of low-cost technologies such as drones - mid increasing geopolitical instability in a multipolar world - could further drive lithium demand for mobile applications.

  • A rapid deployment of artificial intelligence is driving significant growth in computing power, which, in turn, is generating concomitant growth in the demand for energy storage systems to power data centers across the United States and in China.

  • The belief that global events with outlying probabilities have been driving lithium demand in recent months has been an overlooked element in the lithium market, and there is also a considerable lag in gauging demand through battery export data or lithium import statistics: a timing mismatch between when lithium first appears in the supply chain and where analyst models typically measure lithium demand.

• Most models are anchored on utilization data points such as BSS installations, EV sales, and other end use deployments, because of lack of reliable data regarding these lags, when upstream demand actually occurs.

• Once monthly lithium upstream production is compared with battery cell production (moving average accounts for seasonality), there is a lag, which we believe could be as large as one year. In a rapidly growing market (by over 20% growth YoY), this means that producers are effectively supplying into a market that is significantly larger than the one visible in the utilization data points of current models.

• Therefore, lithium miners are not supplying 2026 end user demand but 2027 end user demand. Based on current "data points", this is significantly larger, especially when considering recent "outlier" global events, such as current oil supply disruptions, driving a shift in planning for energy security.

• Microeconomic elements:

  • Sigma Lithium substantially upgraded and restructured its mining operations, expanding its mine hauling fleet by an average of 40% and transitioning from relying on a single mining contractor to having an integrated team of in-house mining specialists and mine automation professionals, supported by independent contractors providing blasting, drilling, equipment, and personnel services.

  • The successful implementation of this upgrade was demonstrated in the first quarter of 2026, when Sigma Lithium announced that the Company successfully ramped up production and remains on track to meet its twelve-month production guidance of 240,000 tonnes of lithium oxide concentrate.

  • Sigma Lithium demonstrated how the Company's results and working capital are highly correlated to both lithium prices (with increased revenues translating into strong margins) as well as lithium demand (with client working capital supporting Sigma Lithium in supplying into the demand time lag for 2027, as outlined above in our macroeconomic case).

  • This unique combination led the Company to achieve the best published profitability in its history in the first quarter of 2026: a net margin of 26% (unadjusted), an EBITDA margin of 39% (unadjusted), and a gross margin of 61%.

  • Sigma Lithium's strong cash flow generation enabled the Company in the first quarter of 2026 to continue a deleveraging trajectory of two years, preparing the balance sheet to absorb new long term and lower cost debt for expansions.

• Total debt fell by 21% in one year and by 33% in two years.

• Short-term bank trade debt dropped by more than 75% in one year.

• The Company disclosed a cash position of US$28 million as of May 15, 2026, which was the highest since year end 2024.

• Sigma Lithium has a growing production profile: by yearend 2027 the Company is targeting the completion of both its Phase 2 and Phase 3 expansions, which together are expected to increase nominal annual production capacity from 270,000 tonnes to 770,000 tonnes of lithium oxide concentrate. This expansion plan is supported by a constructive lithium pricing environment and Brazil's relatively low capital intensity.

• Sigma Lithium has a market capitalization of US$1.8 billion and net debt of US$130 million (as of the end of the first quarter of 2026). At approximately current lithium prices, the Company has provided guidance for cash flow of US$1.1 billion once operating at full production capacity following Phase 2 and 3 expansions, suggesting an attractive valuation.

• The above implies a valuation mismatch of Sigma Lithium compared with the Company's Canadian and Australian peers. This mismatch is heightened by the fact that, despite being a Canadian Company listed in Nasdaq, there has been frequent spikes in short term volatility of Sigma Lithium's share price. In our view, this has been partly generated by a lack of confidence or knowledge of the Company's investor base about Brazil, the emerging market where Sigma Lithium's operations are located. This volatility has often been heightened by the wide dissemination of wrongful and false information about the Company, leading to attractive entry and re-entry points for a fund with monthly liquidity, such as A10 Global.

ABOUT A10 GLOBAL FUND, L.P.

The A10 Global Fund, L.P. ("A10 Global"), was launched in 2025 by A10 Invest and it is managed by Sigma Lithium's Co-Chair, Marcelo Paiva. A10 Global pursues an investment mandate focused on publicly traded global equities of companies positioned to benefit from macroeconomic trends driving accelerated growth in worldwide demand for critical minerals.

A10 Global focuses on market asymmetries created by shifts in macroeconomic variables, which often result in historically high volatility and distortions in the equity valuations of companies operating in emerging markets and new energy industries, such as critical minerals. These dislocations can create compelling value investment opportunities. A10 Global prioritizes companies that are already in production and demonstrate strong operational efficiency, generating above-average margins relative to their industry peers.

A10 Global is a Cayman Islands exempted limited partnership managed by A10 Invest Ltda., a Brazilian investment manager registered with Brazil's Comissão de Valores Mobiliários (CVM). A10 Global provides investors with monthly liquidity.

A10 Global is a distinct investment vehicle from the Venture Capital fund A10 Investimentos Fundo de Investimento Financeiro em Ações ("Fundo A10 Investimentos"). The two funds have no common investors, operate under different jurisdictions, have different fiduciary liquidity mandates, and are managed by different asset management firms. The only element the funds have in common is their lead Portfolio Manager, Marcelo Paiva, Co-Chair of Sigma Lithium.

Fundo A10 Investimentos is a long-term, patient-capital investor established to invest in the industrialization of critical minerals, while serving as a catalyst for economic development and shared prosperity in the communities in which it operates. Fundo A10 Investimentos is managed by A10 Investimentos Ltda. and was the Series A investor in Sigma Lithium shares in 2017 and subsequently participated in Sigma Lithium's IPO at the TSX Venture Exchange in 2018. Fundo A10 Investimentos' only secondary sale of the Company's shares was US$10 million worth of shares sold in a private placement in December 2021 in connection with an increase in the position of a large global fund manager. Fundo A10 Investimentos subsequently reinvested most of the proceeds by acquiring shares of the Company in the market. Other than that, Fundo A10 Investimentos only sold shares in the market to cover its administrative expenses.

REGULATORY AND DISCLOSURE FRAMEWORK

Subject to applicable legal and regulatory requirements, A10 Global may purchase and sell Sigma Lithium common shares in the open market in the ordinary course of its investment activities and, at times, to provide monthly liquidity to investors. All transactions are executed at prevailing market prices in the stock exchanges and, in aggregate, have not resulted in A10 Global's purchases exceeding 5% of the Company's issued and outstanding common shares during any rolling 12-month period, in accordance with the applicable exemption under Canadian securities laws. All trading activities conducted by A10 Global are carried out in strict compliance with Sigma Lithium's Timely Disclosure, Confidentiality and Insider Trading Policy ("Trading Policy"), given that the fund's Portfolio Manager is also the Co-Chair of the Company and the Portfolio Manager of Fundo A10 Investimentos.

Acquisitions and disposals of Sigma Lithium common shares by A10 Global are reported through the System for Electronic Disclosure by Insiders (SEDI) in Canada. While reporting is required within five days of each transaction, A10 Global has a policy of reporting as soon as transactions are closed. As A10 Global's position represents less than 10% of Sigma Lithium's outstanding common shares, SEDI filings appear under the name of the registered portfolio manager at A10 Invest responsible for A10 Global, who is Marcelo Paiva. All trading activity is conducted in compliance with Canadian securities laws.

This communication is provided for informational and marketing purposes only and does not constitute investment, financial, legal, tax, or other professional advice. Nothing contained herein should be construed as a recommendation, offer, or solicitation to buy or sell any financial instrument or to adopt any investment strategy. Past performance is not indicative of future results, and investments may be subject to risks, including the possible loss of capital.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release constitute forward-looking information, including statements regarding potential future acquisitions of Sigma Lithium common shares and financial and operational projections relating to Sigma Lithium, which are based solely on publicly available information disclosed by the Company. Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. A10 Global undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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