Ms. Courtney Lynn reports

ERO COPPER ANNOUNCES US$105 MILLION BOUGHT DEAL FINANCING

Ero Copper Corp. has entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets), under which the underwriters have agreed to purchase, on a bought deal basis, 8.51 million common shares, at a price of $12.35 (U.S.) per common share for gross proceeds of approximately $105-million (U.S.). The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the offering to cover overallotments, if any, and for market stabilization purposes. The offering is expected to close on or about Nov. 14, 2023, and is subject to the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and New York Stock Exchange.

The net proceeds from the offering will be used to advance growth initiatives at the company's Tucuma project and Caraiba operations, to advance regional exploration programs, as well as for general corporate and working capital purposes.

The common shares are being offered for sale pursuant to the offering in all of the provinces and territories of Canada, other than Quebec, by way of a Canadian prospectus supplement to the company's Canadian short form base shelf prospectus dated Aug. 18, 2023. The common shares are being offered for sale in the public offering in the United States pursuant to an effective registration statement on Form F-10 filed under the Canada/U.S. multijurisdictional disclosure system. Before investing, prospective purchasers in Canada should read the prospectus supplement, the base shelf prospectus and the documents incorporated by reference therein, and prospective purchasers in the United States should read the registration statement and the documents incorporated by reference therein for more complete information about the company and the offering. Common shares may also be offered on a private placement basis in other international jurisdictions in reliance on applicable private placement exemptions.

Copies of the prospectus supplement, the base shelf prospectus and the registration statement, when available, may be obtained upon request in Canada by contacting BMO Nesbitt Burns Inc., Brampton Distribution Centre, care of the Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., attention: equity syndicate department, 151 West 42nd St., 32nd floor, New York, N.Y., 10036, or by telephone at 800-414-3627 or by e-mail at bmoprospectus@bmo.com. Copies of the applicable offering documents, when available, can be obtained free of charge under the company's profile on SEDAR+ and EDGAR.

About Ero Copper Corp.

Ero Copper 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, 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-ore-type copper project located in Para, 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), composed of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the company and its operations, including technical reports on the Caraiba operations, Xavantina operations and Tucuma project, can be found on SEDAR+ and on EDGAR. The company's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol ERO.

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