Mr. David Strang reports

ERO COPPER'S TUCUMA PROJECT ACHIEVES MAJOR MILESTONE AT OVER 70% PHYSICAL COMPLETION - ON TRACK FOR FIRST COPPER PRODUCTION IN H2 2024

Ero Copper Corp. has provided an update on the excellent progress being made at the company's Tucuma project. Since commencing site works in 2022, all engineering, procurement and construction activities for the project remain on schedule for first copper concentrate production in H2 2024. Total direct project capital expenditures remain in line with current guidance of approximately $305-million. Project development highlights include:

• Construction: Physical construction of the project is now 70 per cent complete:
  • Significant advancement in mine prestripping, with first sulphide ore on track to be reached in early November;
  • All earthworks now completed, including the water storage reservoir, site drainage and run-of-mine stockpiles;
  • Over 15,000 cubic metres of concrete poured (over 65 per cent complete), concluding all major foundation requirements for the project;
  • Steel structure preassembly and erection tracking ahead of schedule with approximately 1,000 tonnes of steel already in place;
  • Key pieces of processing equipment arrived on site with installations either concluded or continuing, including the primary crusher, ball mill, secondary and tertiary crushers, vibrating screen decks, and flotation cells;
  • Main substation installed on site, primary e-room commissioned and approximately 16-kilometre power line construction tracking ahead of schedule; tie-in to national grid power expected during Q4 2023;
  • Platework, piping and electrical cabling all commenced ahead of schedule.
• People and safety: Peak construction work force successfully mobilized on the project:
  • Approximately 1,750 third party contractors and employees working on site;
  • To date, there have been no lost-time injuries on the project, with approximately two million hours of work completed since 2022.
• Commissioning: The company remains on track to initiate the first phase of process plant commissioning by year-end and commence operations in H2 2024.

Commenting on the progress, David Strang, chief executive officer, said: "First and foremost, I would like to congratulate each and every one of the approximately 1,750 people on site on the remarkable progress to date, and most importantly, for their dedication in achieving nearly two million hours of work without a lost-time injury. With over 70 per cent of the physical work completed, critical pieces of infrastructure in place or nearing completion, and main equipment installations progressing according to plan, we are confident that a major inflection point for the project has been reached.

"As we continue to meet our construction milestones, we are turning our attention on site to piping, electrical and instrumentation installation -- an exciting time for any project. We are focused on executing the first phase of the commissioning schedule prior to year-end to ensure a successful ramp-up and achievement of commercial production in the second half of 2024."

About Ero Copper Corp.

Ero is a high-margin, high-growth, low-carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The company's primary asset is a 99.6-per-cent interest in the Brazilian copper mining company, Mineracao Caraiba SA (MCSA), 100-per-cent owner of the company's Caraiba operations (formerly known as the MCSA mining complex), which are located in the Curaca Valley, Bahia state, Brazil, and include the Pilar and Vermelhos underground mines and the Surubim open-pit mine, and the Tucuma project (formerly known as Boa Esperanca), an iron-oxide-copper-gold-type copper project currently under construction in Para state, Brazil. The company also owns 97.6 per cent of NX Gold SA, which owns the Xavantina operations (formerly known as the NX gold mine), comprising an operating gold and silver mine located in Mato Grosso, Brazil.

We seek Safe Harbor.