11/15/2024

speaker
Rob
Operator

Good morning, everyone. My name is Rob, and I will be your operator today. Welcome to the Sigma Lithium third quarter 2024 earnings conference call. Today's call is being recorded and is broadcast live on Sigma's website. On the call today is company CEO Anna Cabral, CFO Rogerio Marchini, company executive vice president Matthew Dio, and vice president investor relations Irina Axanova. We will now turn the call over to the Sigma team.

speaker
Irina Axanova
Vice President, Investor Relations

thank you rob good morning everyone and thank you for joining us on our third quarter 2024 earnings conference call on the call with me today our company ceo and co-chairperson anna cabral cfo and cfo rogerio marquini earlier this morning we published our 3q press release and posted our financial results which are available through both sec and cedar before we begin i'd like to cover two items first During the presentation, you will hear certain forward-looking statements concerning our plans and expectations. We note that actual events or results could differ materially from changes in market conditions in our operations. And additionally, earnings referenced in this presentation may exclude certain non-core and non-recurring items. Reconciliations to the most comparable IRFRS financial measures and other associated disclosures, including descriptions of adjustments, can be found in the back of the release. With that, I will pass the call over to Anna. Anna?

speaker
Anna Cabral
CEO & Co-Chairperson

Hi, good morning, everyone. Well, this quarter, we achieved our production in low industry cost targets. We generated robust free cash flow and we demonstrated our operational resilience to lithium cycles. We also benefited from a shift in our commercial strategy, which helped us navigate industry seasonality and price volatility, enabling us to secure final higher average realized prices compared to the price bulletin benchmarks. Over the last year, you followed us on this journey and we are very proud to have transformed Sigma from an emerging producer into this industry leader, demonstrating the operation and financial resilience of a mature producer, showing dependability and consistency. Meanwhile, we have managed to deliver on all of our climate goals. And we reached net zero one year in advance of our target, 27 years ahead of the industry with our quintuple zero green lithium, which became a brand. Well, we're very confident that over the lithium cycles, our capabilities to deliver on the execution of our strategy will ensure long-term value for Sigma and all of its stakeholders. So without further ado, I will initiate this presentation going through the highlights of our quarter. Well, on the operational aspect of our operations, we continue to deliver operational excellence. We further increase the cadence of quasi-monthly volumes to 22,000 tons sold per month. We also managed to surpass third quarter production targets set initially at 60,000 tons. We've done better than our targets. We successfully executed a shift in commercial strategy that helped us weather seasonality, meaning we achieved higher realized prices versus the industry and increased substantially our resilience to lithium cycles. More importantly, we keep on working on our green tech plant technology, perfecting it. We successfully concluded the plant one efficiency revamp we talked about in our investor day, which has the potential to increase production by 10 to 15%, just like we said. More importantly, we continue to advance the construction of the second plant And we're going to show you quite a lot of pictures here of our construction site. I think more importantly to all of us partner employees, we created this culture of ownership and operational excellence, which continue to deliver in the zero accidents without lost time achievement. We've gone now 40, 43 days without losses. accidents without lost time to work and zero fatalities, staying at the very top of the ICMM rankings. I'll pass it on now to Rogério, our CFO.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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