Mr. Leon Binedell reports

SHERRITT RELEASES ITS 2024 SUSTAINABILITY REPORTS

Sherritt International Corp. has released its 2024 sustainability disclosures, including its annual sustainability report, climate report, tailings management report and sustainability scorecard, outlining the corporation's performance on environmental, social and governance (ESG) matters.

"Sustainability is fundamental to our business, to our social licence to operate in our host communities and countries, and to our valued customers and other stakeholders," said Leon Binedell, executive chairman, president and chief executive officer of Sherritt. "Our 2024 reports showcase how we are elevating our performance across health and safety, environmental stewardship, and responsible production and supply. In 2024, we embarked on a thorough review of our sustainability vision. We refreshed our near-term targets, updated our long-term goals, and ensured our sustainability strategy is aligned with the feedback from our partners, customers, communities and investors. This process has strengthened our resolve to deliver lasting value to all our stakeholders and I am proud to affirm our progress as we mark another milestone year in our sustainability journey. We encourage our stakeholders to review these reports, as your insights and perspectives help shape and drive our shared goals."

Highlights from Sherritt's 2024 sustainability reports

Health and safety

Health and safety remain Sherritt's highest priority. In 2024, far-reaching enhancements to safety practices and policies were implemented. A series of safety strategy sessions were completed with each operation to create a multiyear road map for continued safety enhancements, with an initial focus on felt leadership, supervisor training, contractor safety protocols, and learning and development to strengthen safety culture and promote safe workplace behaviours at all operations.

Environmental stewardship

Sherritt has a strong environmental management system that is designed to align with global standards, comply with regulatory requirements and maintain the corporation's social licence to operate.

In 2024, Sherritt commenced the Moa joint venture's low-capital-intensity tailings project. The project, expected to be completed in late 2026, will be engineered and built to international standards and deliver an environmentally responsible tailings solution that will last for the entirety of the mine's estimated 25-year life.

Work also continued to identify climate-related risks and opportunities, and to develop effective mitigation and management strategies aimed at reducing risk and capitalizing on emerging opportunities. Among the key actions undertaken were completing a climate risk and opportunity assessment for Energas S.A., as well as establishing baseline energy and greenhouse gas (GHG) emissions assessments for Moa Nickel S.A. and Sherritt's operations in Fort Saskatchewan. These initiatives yielded several findings with the potential to lower GHG emissions intensity, reduce operating costs and enhance compliance with customer requirements.

Responsible production and supply

Sherritt continues to demonstrate its commitment to ethical and responsible production, supply and sourcing practices aligning with internationally recognized industry frameworks. Sherritt achieved a self-assessed Level A in all of The Mining Association of Canada's Towards Sustainable Mining protocols at Sherritt's operations in Fort Saskatchewan and confirmed independent validation of its conformance with the London Metal Exchange's Track B responsible sourcing requirements. Sherritt completed a comprehensive risk assessment of its mineral supply chain against Organization for Economic Co-operation and Development (OECD) standards, identifying no significant risks, and advanced its indigenous relations and reconciliation road map, strengthening its commitment to meaningful partnerships with indigenous communities. As a result of work that began in 2024, Sherritt also became a participant of the Copper Mark as the corporation aims to obtain the Nickel Mark award for the refinery facilities in Fort Saskatchewan in the future.

Sherritt's 2024 sustainability report, climate report, tailings management report and sustainability scorecard are available on Sherritt's website.

Sherritt's 2024 sustainability report and sustainability scorecard were prepared with reference to the Global Reporting Initiative's (GRI) and Sustainability Accounting Standards Board (SASB) disclosure standards.

About Sherritt International Corp.

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt -- metals deemed critical for the energy transition. Sherritt's Moa joint venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by 20 per cent of contained nickel and cobalt. The corporation's power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba, with installed electrical generating capacity of 506 megawatts, representing approximately 10 per cent of the national electrical generating capacity in Cuba. The Energas facilities comprise two combined cycle plants that produce low-cost electricity from one of the lowest-carbon-emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol S.

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