Mr. Tom Halton reports

SHERRITT PROVIDES AN UPDATE ON ITS OPERATIONS

Sherritt International Corp. has reduced operations at its joint venture in Moa, Cuba, due to fuel supply constraints affecting the country. The corporation expects to pause mining operations and place the processing plant on standby within the next week during which time planned maintenance activities will be performed. The corporation has received notification that planned fuel deliveries for Moa will not be fulfilled and the timeline for resumption of deliveries is unknown at this time. The corporation is actively engaging with relevant counterparts and evaluating all options for sourcing input commodities.

Currently, there is no immediate impact on operations in Fort Saskatchewan, Alta. The refinery is continuing to produce finished nickel and cobalt for sale. The inventory of feed it has available for such production is expected to last until approximately mid-April.

Operations at Energas SA are continuing as planned without any impact.

Sherritt is evaluating available options to maintain operations and prolong production at Moa and Fort Saskatchewan while implementing measures to preserve and maximize liquidity. These efforts include managing expenditures to maintain financial flexibility and exploring potential sources of temporary financing support. Sherritt expects to be able to provide updated 2026 guidance once it has greater certainty around the supply chain and timelines for the resumption of full operations at its mine and processing facility in Moa.

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. Leveraging its technical expertise and decades of experience in critical mineral processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America. Sherritt's Moa joint venture produces cost-competitive critical minerals while maintaining high sustainability standards and has an estimated mine life of approximately 25 years.

The corporation's power division, through its ownership in Energas, is the largest independent energy producer in Cuba, processing domestically sourced raw natural gas to generate electricity for sale to the Cuban national electrical grid. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol S.

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