CORPORATE PRESENTATION | May 2018

TSX-V: SGMA

Margaux Capital Inc.

- To Be Renamed -

Sigma Lithium Resources Inc.

www.sigmalithiumresources.com

This presentation has been prepared by Sigma Lithium Resources Inc. (“Sigma” or the “Company”) and is intended to assist prospective investors in evaluating a potential equity investment opportunity. It does not purport to contain all of the information that a prospective investor may desire. In all cases, interested parties should conduct their own investigation and analysis. Furthermore, this Presentation does not constitute any form of commitment, recommendation, representation or warranty on the part of the Company or the agents.

In making an investment decision, investors should not rely on the information contained in this Presentation. This Presentation does not contain all of the information that would normally appear in a prospectus under applicable Canadian securities laws. Neither the delivery of this Presentation, at any time, nor any sale made pursuant hereto, will imply that the information contained herein is correct as of any time subsequent to the date set forth on the cover page hereof or the date at which such information is expressed to be stated, as applicable, and, except as may be required by applicable law, neither the Company nor the agents are under any obligation to update any of the information contained herein or to inform the recipient of any matters of which any of them becomes aware that may affect any matter referred to in this Presentation (including, but not limited to, any error or omission which may become apparent after this Presentation has been prepared).

CAUTIONARY NOTE REGARDING FORWARD – LOOKING INFORMATIONThis presentation contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, lithium and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour and production costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Sigma Project (as defined herein), permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this presentation and the Company does not undertake to update or revise any forward-looking information that is included herein, except in accordance with applicable securities laws.

CONFIDENTIALITY This presentation and its contents are confidential and proprietary to the Company and no part of it or its subject matter may be reproduced, redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (as hereafter defined) or published in whole or in part for any purpose (collectively, “Disclose”) except as permitted hereby. The recipient of this presentation (the “Recipient”) by accepting this presentation hereby covenants with the Company that the Recipient: (i) shall maintain the information contained in this presentation (the “Confidential Information”) in the strictest confidence; and (ii) shall not, at any time, without the prior written consent of the Company, which consent may be unreasonably withheld, Disclose to any individual, firm, corporation, organization, government or government agency, or any other entity (collectively, “person”) this presentation or any Confidential Information. The Recipient further covenants that the Recipient and/or its representatives (as permitted by the Company) will not use the Confidential Information in any way detrimental to, or so as to obtain any commercial advantage over the Company. The Recipient agrees to be responsible for any breach of the covenants contained herein by the Recipient and/or its permitted representatives. The Recipient agrees to make all appropriate efforts to safeguard the Confidential Information from disclosure to any person other than as permitted hereby. If this presentation has been received in error then it must be returned immediately.

THIRD PARTY INFORMATION This presentation includes market, industry and economic data which was obtained from various publicly available sources and other sources believed by Sigma to be true. Although Sigma believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this presentation, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying economic and other assumptions relied upon by such sources. Sigma believes that its market, industry and economic data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness thereof and Sigma does not make any representation as to the accuracy of such information.

Disclaimer

1

Sigma Lithium Corporate

Update

Sigma Lithium Corporate Highlights

3

A World Class Hard Rock Lithium Asset With Superior High-Grade Mineralogy

• 521,000t of LCE Resource M & I & I

• Average grade of 1.56% Li2O, placing Xuxa as one of the highest grade hard-rock projects globally

Fast Track to Production & Low Capex

• Measured resource in feasibility stage

• Pilot Plant on site in 1H 2018 producing test samples

• Internal estimate of C$65mm capex to achieve ~220,000 tpa spodumene production by 2020 (1)

Leading Brazilian Mining Executives With a Successful Track Record of 30 years

Building Multi-Billion-Dollar Businesses in Brazil

• Unique combination of some of the most experienced professionals, geologists, mining engineers, metallurgists in Brazil

• Former CEO of AMG Minerals, Former CEO of CBMM, Former General Manager/ COO of Anglo American Highveld Steel

Significant Resource Expansion Potential

• Sigma property has nine past-producing lithium mines and more than 200 identified pegmatites

• NI 43-101 report estimates 38 - 57 million tonnes of additional potential lithium resource (2)

(1) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon.

(2) Reader is cautioned estimates are based on limited geological information and can not be considered official figures in accordance with National Instrument 43-101. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

In 1Q 18, We Advanced the Timetable Towards Production

2Q18 3Q18

Resource Development

Drilling & Measuring Resources

of the Other Ore Bodies of Grota

do Cirilo

4Q18 1Q19 2Q19 3Q19

Permitting

DNPM Mining Plan

(PAE)

Environmental

Impact Study

Water Usage Concession

Plant

Construction

Plant

Installation

Plant

Start-Up

Infrastructure Installation

Mine Commissioning

Overburden RemovalPlant Start-

Up

Environmental Licensing

Plant Design & Acquisition

Infrastructure Design & Contract

Feasibility

Study & Pilot Plant

Grota do Cirilo

(Xuxa – in progress)

Install

Pilot Plant

Grota do Cirilo (Other Ore

Bodies)

Production of Spodumene Concentrate from

Other Ore Bodies from Grota do Cirilo

Metallurgy

Tests &

43-101 Update

Pre -

Production

1

2

3

✓✓✓

✓

✓

4

During 2Q18 We Have Been Delivering on Multiple Workstreams

5

Validate according to NI 43101 with infill drilling, representing an additional 50% increase

in the size of resource at XUXA to 18.4Mt (700,000t of LCE).

Drilling resumes on May 21 at other deposits in Grota do Cirilo property targeting to

validate at least an additional 20Mt

Resourc

e Growth

Feasibilit

y

Initiated metallurgy tests at XUXA achieving 72% recovery with one step DMS processing

Final phase of selection process of EPC Company to build commercial lithium plant

(Engineering, procurement, construction)

Pilot

Plant

Obtained all environmental licenses for pilot plant

DMS processing unit on site by month-end

Pilot Plant will be producing spodumene concentrate samples on site in July’ 18

Permits

Concluded Update of environmental impact study on wet season

Update of mining plan for XUXA deposit (ANM-PAE) in progress.

*(Mt=million tonnes /t=tonnes)

Feasibility Update: Xuxa Has Outstanding Mineralogy, Achieving

Superior Recovery Results Using DMS Processing Only

Li Recovery Results From DMS Liberation Test for 2 Feed Sizes: 9.5mm & 6.3mm (1)

DMS ProductsDMS Total

Concentration

Ass

ays

%

Li 2.85

Li2O 6.12

SiO2 67.3

Al2O3 23.5

Fe2O3 0.77

P2O5 0.32

Na2O 0.54

K2O 0.35

CaO 0.05

Li 73.1

Crushed to 9.5mm

Crushed to 6.3mm

Both 6.3mm & 9.5mm particles yielded similar high 73% recoveries

73.1%

6% Min. Concentrate

@73%

Recovery

Source: Company disclosure.(1) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-

101”) and should not be relied upon. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping. 6

Pilot Plant Flowsheet finalized and DMS on Site - Production of

Test Samples by Summer’ 18CRUSHING AND DENSE MEDIA CIRCUIT FLOWCHART

Light FractionPile Form

Dense Media Circuit

Mineral Feeding

Dense Media Pulp

Heavy Fraction

Silo 8m3, Grill 250mmVibrating Feeder

Belt Conveyor TC-1

Jaw crusher6240

Jaw Rebreaker8013

Belt Conveyor TC-2

Cone Crusher

Belt Conveyor TC-3

Vibrating Screen2 decks, screen 6,4 and 0,5mm

Fraction +6,4mmFraction -0,5mm

Pile Form

Belt Conveyor TC-4

Fraction -6,4mm and +0,5mm

Vibrating Screen 1 deck,0,5mm, with Ferro Silicon

washing

LightHeavy

Dense Media Pulp

Magnetic Drum

Ferro Silicon

Pulp BoxPulp Pump

Water

Fraction +250mmPile

Breaker

Primary Crusher

Dense Media Drum: 10t/h

Fraction -12mm and +2mm

Vibrating Screen2 decks, screen -12mm and +2mm

Vibrating Screen 1 deck,2mm, with Ferro Silicon washing

Fraction +12mm

7

Sigma Lithium - Margaux Capital

Reverse Take Over

Margaux-Sigma: Key Statistics and Ownership Structure

Note: As at [ ].

Ticker TSXV: SGMA

Share Price C$ 0.20

Shares Outstanding 669.7 million

Broker Warrants Outstanding 2.7 million

FD Shares Outstanding 672.4 million

FD Market Capitalization C$ 134.5 million

Cash C$ 18.5 million

Capital Structure Pre-RTO Sigma Shareholders

(“one”) 1 Sigma Lithium Subscription Receipt purchased by an

investor for C$2,00 was exchanged for 10 (“ten”) common

shares of Margaux priced at C$ 0,20 each.

Shares will trade under the new ticker “SGMA” (TSX-V). And TEMPORARILY UNDER MARGAUX CAPITAL INC. NAME, until a

shareholder meeting to be held in June.

9

Post-RTO Sigma Shareholders

A10 Natural

Resources

FIA

85,8%

Other

Management

3,7%

Convertible

Holders

10,5%

A10 Natural

Resources

FIA

72,1%

Other

Management…

Sigma

Convertible

Holders

8,8%

Margaux

Current

1,0%

RTO

Investors

15,0%

Margaux (Sigma) Share Capitalization & Share Price Post RTO

Sh

are

s

Ou

tsta

nd

ing

56.3

mm

10.0

mm 663

mm

669.7

mm

Sigma

Lithium

(Pre-RTO)

RTO Equity

Offering of

Sub

Receipts

Merger with Margaux

(10:1 Exchange Ratio)

Existing

Margaux

Shares

Margaux-

(Sigma)

(Post-RTO)

C$ 0.20 C$ 2.00

10,000 Shares of Margaux @ C$

C$ 0.20

Value = C$ 2,000

1,000 Shares of Sigma @

C$ 2.00

Value = C$2,000

(1) Exchange ratio of 9.9997 Margaux shares per Sigma share results in post-financing Margaux ownership of 1.00%.

(2) Broker Warrants outstanding and broker warrants to be issued as a result of private placement are not included.

6.7

mm

C$2.00 / 9.9997 Sigma Price / Exchange ratio

C$20mmRaised

Sh

are

Pri

ce

Invest

or

Exam

ple

Margaux Shares issued to Sigma

Shareholders (99%)

66.3

mm ~10:1

Sigma Post-RTOOffering

Existing Margaux

Shares (1%)

MargauxShares

Outstanding

Offering Price for Sigma

~10:1

Margaux (Sigma) Share Price At Opening

~10:1

10

$862

$708

$638

$551

$465

$302 $256 $246 $242

$174 $173

$62

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1.000

Galaxy

Resources

Kidman Tawana Mineral

Resources

Altura Nemaska Neometals Critical

Elements

Pilbara Frontier

Lithium

EV

/Reso

urc

e (

US$/t

LC

E)

$964 $630 $176 $2,732 $524 $387 $93 $136 $1,144 $55 $116 $116

$1,101 $629 $190 $2,792 $500 $414 $122 $134 $1,206 $56 $134 $134

1.1 0.9 0.3 5.0 1.1 1.3 0.4 0.6 4.7 0.3 0.5 1.5

Sigma To Achieve Considerable Re-Rating via Project De-

Risking & Auditing of Existing Mineral Resources

11

Select Public Market Hard Rock Lithium Peers – EV/Resource Valuation (US$/t LCE)

(3) (5)(5) (7)

EV (C$mm)

Market Cap (C$mm)

Resource (Mt LCE)

Source: Company disclosure, Bloomberg, Factset.Note: Market data as at May 7, 2018.(1) Reader is cautioned that the technical data contained herein is management’s current internal estimates for illustration. This technical data cannot, therefore, be treated as compliant with

National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

(2) Excludes high and low values.

(@RTO) (YE 2018)

(1)

(3) Includes James Bay resources of 0.7 Mt LCE and Mt Cattlin resources of 0.4 Mt LCE.(4) Kidman resource represents management’s current internal estimates for illustration purposes only, based

on 2.0 Mtpa ore throughput for 25 years implying 50.0 Mt resource at 1.44% Li2O average grade.(5) Based on Neometal’s 13.8% and Mineral Resources’ 43.1% ownership of Mt Marion; Mineral Resources’

resource is also inclusive of Wodgina.(6) Represents Proven & Probable reserves obtained from January 2018 Feasibility Study (Jan. 9, 2018 PR).(7) Based on Critical Elements’ 75% ownership of Rose.

(6)

Adj. Peer Average (2) = $420/t LCE

(4)

Sigma Lithium Highlights

Introduction to the Company

1.56%Average Lithium Oxide

Grade at Xuxa Deposit

7.2%Successfully Produced

Spodumene Concentrate (1)

(1) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard

of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is

uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples

and surface mapping.

~220,000tForecasted Annual

Lithium 6%

Concentrate

Production (1)

~520,000t LCE

13.5 Mt Measured & Indicated and

Inferred Resource at Xuxa

site: SGS Canada

Sigma in Numbers: Makings of a World Class Lithium Project

>1.5mmt LCE Exploration Opportunities

Identified at Target Deposits (1)

>18,000Hectares of Ground

9 Historical Lithium Mines

C$65mm Capex to Production (1)

US$175/tEstimated FOB Mine

Cost to Produce Lithium

6% Concentrate (1)

US$0.06/KWhCost of Hydro Energy

13

Minas Gerais

Belo

Horizonte

Montes Claros

680km

327km

Port

Vitoria

700km

Araçuaí

(1) Reader is cautioned estimates are based on limited geological information and can not be considered official figures in accordance with National Instrument 43-101. The potential quantity and grade is conceptual in nature. There has been insufficient

exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab

samples and surface mapping.

(2) For full details refer to technical report filed on Sedar. 14

Location in Brazil

Sigma’s Competitive Advantage: Mining Region in Brazil With

Excellent Existing Infrastructure

Hydro Power DamMining Port

VitoriaHighway to Port

The port was

purpose-built in

Espírito Santo State

for servicing the

mining industry

It has 14 wharfs and

can receive Panamax-

type ships

Irapé Hydroelectric

Power Plant 50km away

360MW of nominal

power generation

capacityAracuai

Araçuaí is linked to

Port Vitoria via BR 116

Highway (Brazil main

north-south axis)

Experienced Global Professionals & Highly Regarded Mining

Executives in Brazil With a Hands-On Management Approach

15

Geo

log

y/ M

eta

llurg

y Bu

siness

/ Fin

an

ce

Calvyn Gardner (Executive Chairman)

+ 20 years at Anglo American

Group

Former General Manager/COO of

Highveld Steel and Vanadium

Itamar Resende (President of Sigma Brazil)

Former CEO of AMG Brazil

and UK (+30 years)

Master’s Degree in

Electrometalurgy

Ana Cabral (Director of Business Development)

Former Head of Equity Capital

Markets Latam at Goldman Sachs

in New York. Completed over $100

Billion in Transactions (+24 years)

MBA Columbia Business School

Alvaro Barbosa (Chief Legal and Sustainability Officer)

Former Partner at Mattos Filho

and Tozzini Freire (+30years)

Associate at Skaden, Arps in

New York

Ret. Gen. Fernando Iasbech (Director of Institutional Relations)

Held several strategic leadership

roles during a distinguished 30-

year career in the Brazilian army

IR consultant to CBMM Niobium

Moscow Geological Institute

(specialization in Pegmatite

formations), (+30 years of

experience)

Max Pogorelov (Senior Geologist)

Former Portfolio manager Mittal

Family Office

CFA Charterholder – Level III

Marcelo Paiva (Chief Financial Officer - Brazil)Gregory Lear (Senior Geophisicist)

University of Sydney

specialization in pure

and applied geophysics

(+40 years of

experience)

Experienced and Multi Skilled Board of Directors: Strength of

Our Corporate Governance and Transparency

Note: Reader is cautioned that the timeline show above is an estimate based on a number of factors and assumptions that could change or prove to be incorrect and should not be relied upon.

Calvyn Gardner

Chief Executive Officer & Director

Itamar Resende

President & Director

Tadeu Carneiro

Director

Non-Executive Directors

16

Executive Directors

Maryse Bélanger

Director

Former CEO of

CBMM Niobium

(+30 years)

Professor of

Graduate

School of

Engineering at

MIT (Boston)

Chief

Operating

Officer at

Atlantic Gold

Corporation

Former Chief

Executive

Officer and

Managing

Director of

Mirabela Nickel

Ltd.

Senior Partner

and Counsel at

McCarthy

Tétrault LLP in

Toronto

Over 30 years

of securities

law experience

in Canada

Gary Litwack

Director

Over 20 years

at Anglo

American Plc

Former

General

Manager/COO

of Anglo’s

Highveld Steel

and Vanadium

Former CEO of

AMG Brazil and

UK (+30 years)

Master’s Degree

in

Electrometallurgy

17

38-57Mt Additional Resource Potential from 9 Historical Working Lithium Mines (1)

Project Development

Nine historical lithium mines (single ore body deposits)

Four properties (over 200 pegmatites)

NI 43-101 mineral resource estimate on Xuxa prospect within Grota do Cirilo property

Feasibility study to be completed in Q3 2018 focused on only one major ore body (Xuxa, a historical lithium mine)

Selected five top targets (all historical lithium mines) in Grota do Cirilo to validate additional resources by H1 2018

Jequitinhonha River

(1) Reader is cautioned estimates are based on limited geological information and can not be considered official figures in accordance with National Instrument 43-101.

Sigma is a World Class Lithium Project with >18,000 ha

(1) Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Inferred mineral resources are exclusive of the Measured and Indicated resources. A fixed density of 2.72 t/m3 was used to estimate the tonnage from block model volumes. Geological CoG estimated from Li2O values of the composite vs. value in block.

(2) Reader is cautioned estimates are base on limited geological information and can not be considered official figures in accordance with National Instrument 43-101. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

Measured and

IndicatedLength Width Depth

Avg

Grade

12.9Mt 1700 12-13 250 1.56%

Inferred

0.6Mt 1700 12-13 250 1.47%

Estimated

VolumeLength Width Depth

Grade of

Intersection

12-15Mt 400 300 40 1.45%

Estimated

VolumeLength Width Depth

Grade of

Intersection

5-7Mt 550 30 150 1.00%

Estimated

VolumeLength Width Depth

Grade of

Intersection

6-8Mt 450 35 200 1.21%

Barr

eir

oX

uxa

Mu

rial

Lavra

do

Meio

Estimated

VolumeLength Width Depth

3-5Mt 200 300 17Nezi

nh

o

do

Ch

icao

Jequitinhonha

River

Estimated

VolumeLength Width Depth

Grade of

Intersection

1-2Mt 200 11 175 0.8%

Maxixe

Grota do Cirilo Property: 12.9Mt M&I & 0.6Mt Inferred (1)

27–37Mt of Additional Potential Resource (2)

18

Overview of Xuxa 3D Geological Block Model

Colors Indicating Grade

Xuxa - ~520,000t LCE, 1.56% Li2O & Outstanding Mineralogy

Grade is relatively consistent throughout the ore body

19

Grota Cirilo - Xuxa Grota Cirilo - Xuxa Grota Cirilo - Barreiro

High GradeLarge Coarse

Crystals

Low Level

ImpuritiesLow CAPEX

High GradeNear Surface

Mineralization

Low Level

ImpuritiesLow OPEX

Low Cost of

Lithium

Concentrate

High Grade Deposits with Large Crystals, Low Impurities to

Drive High Recovery Ratios, Low Opex and Low Capex

20

Sigma’s Property Ranks Amongst the Highest Grade Lithium

Projects in the World

Source: Company disclosure, Bloomberg.

(1) Galaxy includes Mt. Cattlin only.

(2) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 –

Standard of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon.

(1) (2)

0,92%1,00% 1,05% 1,08%

1,18%1,25%

1,37% 1,40% 1,44%1,56%

1,88%

0,00%

0,50%

1,00%

1,50%

2,00%

2,50%

Reso

urc

e G

rad

e (

% L

i 2O

)

High grade, near-surface deposit to drive leading operating costs

21

13,5

13,5

76

4 1,5 45,5

Sig

ma

Cu

rren

t

(Xu

xa)

Barr

eir

o

Mu

rial

Lavra

do

Meio

Nezi

nh

o

Maxi

xe

Sig

ma

No

rth

Concurrently, Potential to Achieve Considerable Resource

Expansion in 2018Validating Existing Resources: Drilled Ore Bodies at Grota do Cirilo Property Were Previously Lithium Working Mines

(1) Reader is cautioned estimates are based on limited geological information and can not be considered official figures in accordance with National Instrument 43-101. Illustration based on approximate mid-points from NI 43-101 estimated range of additional potential resource by deposit. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineralresource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

(2) Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Inferred mineral resources are exclusive of the Measured and Indicated resources. A fixed density of 2.72 t/m3 was used to estimate the tonnage from block model volumes. Geological CoG estimated from Li2O values of the composite vs. value in block.

Current H2 2018

Illu

stra

tive R

eso

urc

e G

row

th (

Mt)

(1)

12.9 (M&I)

0.6 (Inf.) (2)

Gro

ta d

o

Cir

ilo

To

tal

22

Xuxa to be Fast-Tracked To Production in 4Q 2019

(1) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

Internal estimate of ~220k tonnes spodumene production per annum (approximately 25,000-30,000 tonnes LCE)

Given world-class properties, Sigma will subsequently assess production expansion opportunities incorporating additional Grota do Cirilo ore bodies into mine and processing plans

0

50

100

150

200

250

300

350

400

450

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Sp

od

um

en

eP

rod

uce

d (

k T

on

nes)

Pilot

PlantPhase 1

Full commercial production from DMS plant at Xuxa

Phase 2Potential to increase production from other deposits; would require

additional mining and plant capacity and capexCommissioning

Sigma Illustrative Consolidated LOM Production

23

Estimated Future Capex in 2019: Construction of Commercial

Scale Production PlantEstimated Future Capex (C$65 million)

Uses C$ million (1)(2)

Plant Construction C$6.5

Plant & Installation C$19.0

Plant Infrastructure & Mine Development

(Power Sub-Station, Weight Bridges, Offices)C$12.5

Water Circuit & Treatment C$5.0

Dry Staking C$12.5

Working capital and Corporate G&A C$4.5

Treasury Buffer for Contingencies C$5.0

Total Uses C$65.0

Illustrative Initial

Capex Financing

Debt

C$35 mm

54%

Equity

C$30 mm

46%

(1) Assumes USD/CAD = 1.25

(2) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-

101”) and should not be relied upon. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral

resource. The potential quantity and grade has been determined based on available drilling, channel samples, grab samples and surface mapping.

Earmarked C$2 million of current cash position for certain long lead items

24

$9.269

$6.181$5.410

$3.738 $3.360

$3.083$1.840

$17.000

$10.840

$0

$2.000

$4.000

$6.000

$8.000

$10.000

$12.000

$14.000

$16.000

$18.000

$20.000

Lithium

Americas

Orocobre

(Phase 2)

Critical

Elements

Nemaska Pilbara Altura Tawana Kidman

Init

ial C

ap

ex/

Pro

du

ctio

n R

ate

(U

S$/t

pa

LCE)

Sigma Lithium Will Require Low Capex to Reach Production

Sigma’s low upfront capex required to generate peer-leading lithium production per capital invested: flexibility in funding the capex through multiple sources

Select Peers – Initial Capex/Production Rate (US$/tpa LCE)

Source: Company disclosure.

Note: Assumed 8 to 1 conversion from spodumene concentrate to LCE; Currency conversion as at March 1, 2018.

(1) Bacanora and Pilbara multiples based on each project’s Stage 1 capex and average production figures.

(2) Orocobre multiple based on Olaroz project’s Phase 2 capex and average production figures.

(3) Nemaska production rate of 34k tpa LCE based on 23k tpa of lithium hydroxide and 11k tpa of lithium carbonate, Capex based on Whabouchi mine and concentrator only.

(4) Reader is cautioned that the technical data contained herein is management’s current internal estimates. This technical data cannot, therefore, be treated as compliant with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”) and should not be relied upon.

(3) (1) (4)(2)

Capex/process to produce Li2CO3

25

Significant additional potential +18,000 ha property & only 1 of 10 targeted

lithium-bearing pegmatites drilled to measured resources

Strategically positioned in Brazil providing high-quality battery-grade

spodumene concentrate

Excellent infrastructure and project access - Expected to result in manageable capital

costs to production

Seasoned Brazil-based management team & board with

complementary skillsets to bring Sigma to production

Potential low-cost high-margin producer

Past-producing lithium mine – Supports fast-track to commercial production

Sigma Lithium Recap

26

Thank you for your time