Sherritt Releases its 2024 Sustainability Reports

Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX: S) is pleased to announce the release of 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 license to operate in our host communities and countries and to our valued customers and other stakeholders,” said Leon Binedell, Executive Chairman, President and CEO 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 include:

• Health and Safety
  
  Health and safety remains 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 multi-year roadmap 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 license to operate.
  
  In 2024, Sherritt commenced the Moa JV’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 at www.sherritt.com.

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
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% 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 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of 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”.

FORWARD-LOOKING STATEMENTS

Certain statements and other information included in this press release constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). All statements in this press release, other than those relating to historical information, are forward-looking statements, including, but not limited to, statements regarding strategies, plans and estimated production amounts resulting from expansion of mining operations at the Moa Joint Venture; the anticipated completion and expected benefits of the Moa Joint Venture tailings project; potential GHG emission reductions; cost savings from identifying climate-related risks and opportunities; and the Corporation’s goal to obtain The Nickel Mark award. The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. The key risks and uncertainties should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and for the three and six months ended June 30, 2025 and the Annual Information Form of the Corporation dated March 24, 2025 for the period ending December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca.

The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

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