Ms. Courtney Lynn reports

ERO COPPER COMPLETES US$111 MILLION BOUGHT DEAL FINANCING

Ero Copper Corp. has closed its offering, on a bought deal basis, of 9.01 million common shares, including 500,000 common shares issued pursuant to the partial exercise of the underwriters' overallotment option, at a price of $12.35 (U.S.) per common share for gross proceeds of approximately $111-million (U.S.). The offering, announced on Nov. 6, 2023, was conducted by a syndicate of underwriters led by BMO Capital Markets, as sole bookrunner and lead underwriter, and including Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Cormark Securities Inc., National Bank Financial Inc., Paradigm Capital Inc., PI Financial Corp., Raymond James Ltd. and Stifel Canada.

The net proceeds of the offering will be used to advance growth initiatives at the company's Tucuma project and Caraiba operations, advance regional exploration in Brazil, and for working capital and other general corporate purposes, as further described in the prospectus supplements (as defined herein).

The common shares were offered in all of the provinces and territories of Canada, other than Quebec, by way of a Canadian prospectus supplement dated Nov. 8, 2023, to the company's Canadian short form base shelf prospectus dated Aug. 18, 2023, and were offered in the United States by way of a U.S. prospectus supplement forming part of the company's effective registration statement on Form F-10 filed under the Canada/U.S. multijurisdictional disclosure system.

Copies of the prospectus supplements, the base shelf prospectus and the registration statement may be obtained upon request in Canada by contacting BMO Nesbitt Burns Inc., Brampton Distribution Centre C/O 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 W 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 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. 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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