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LONDON, Feb. 22, 2023 /PRNewswire/ Mineracao Vale Verde Ltda. ("MVV" or the "Company") and Appian Capital Advisory LLP ("Appian") are pleased to announce the successful ramp up during 2022 of the Serrote copper-gold mine and processing plant ("Serrote" or the "Mine") located in Alagoas, Brazil. Serrote is now operating at full production capacity. This follows completion of construction ahead of schedule and under budget in 2021. Serrote 2022 full year performance highlights Industry-leading ESG and safety record, with zero (0) Lost Time Injuries as at 31st December 2022 for the prior 12 months with 1.9 million cumulative hours worked MVV completed the ramp-up of operations in the fourth quarter with: - Mining tracking ahead of plan with 3.0Mt of total material moved in Q4 - Processing plant reached 105% of designed capacity over Q4 at 4.3Mtpa annualized for the period - Copper recoveries achieving 82.8% over Q4 Full year 2022 product

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