Sherritt Supplies Replace on Operations at its Refinery

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TORONTO — Sherritt Worldwide Company (“Sherritt” or the “Company”) (TSX:S) in the present day introduced that operations at its refinery in Fort Saskatchewan, Alberta are transitioning to a shutdown state. Such transition aligns with the Company’s beforehand disclosed expectations, which contemplated refinery operations persevering with till roughly mid-June primarily based on accessible feed stock.

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The shutdown is being carried out in a managed and orderly method, with security and environmental issues remaining the Company’s main priorities. Sherritt has carried out shutdown procedures designed to guard workers, contractors, the encompassing neighborhood and the atmosphere, and can retain the personnel and assets required to take care of the refinery in a secure and safe state throughout the shutdown interval.

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The shutdown will proceed till mining and processing actions at Moa, Cuba resume and the refinery feed pipeline is rebuilt. At the moment, the Company is unable to offer timing steering for when that can happen. Sherritt is sustaining its suspension of direct participation in three way partnership actions in Cuba as introduced in its Might 7, 2026 press launch. Sherritt can be persevering with to work on a path to renew operations on the refinery as quickly as practicable and is taking measures to protect liquidity, handle prices and keep operational readiness throughout the shutdown interval. In the course of the downtime, the Company will full needed upkeep actions that don’t require vital capital funding. The Company continues to provide fertilizers and sulphuric acid for resale.

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About Sherritt

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Sherritt is a world chief in utilizing hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed vital for the vitality transition. Leveraging its technical experience and many years of expertise in vital minerals processing, Sherritt is dedicated to increasing home refining capability and lowering reliance on international sources. The Company operates a strategically essential refinery in Alberta, Canada, acknowledged as the one vital cobalt refinery and one among simply three nickel refineries in North America.

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Sherritt’s widespread shares are listed on the Toronto Inventory Change below the image “S”.

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Ahead-Wanting Statements

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Sure statements and different data included on this press launch might represent “forward-looking data” or “forward-looking statements” (collectively, “forward-looking statements”) below relevant securities legal guidelines (such statements are sometimes accompanied by phrases akin to “anticipate”, “forecast”, “count on”, “imagine”, “might”, “will”, “ought to”, “estimate”, “intend” or different related phrases).

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All statements on this press launch, aside from these referring to historic data, are forward-looking statements. Ahead-looking statements on this press launch embody, with out limitation, statements relating to the transition to a shutdown of operations on the Company’s refinery in Fort Saskatchewan, Alberta; the style during which the shutdown shall be carried out; the Company’s capacity to take care of the refinery in a secure and safe state throughout the shutdown interval; the Company’s capacity to rebuild a adequate pipeline of combined sulphide feed; the timing, prospects and circumstances for resuming refinery operations; measures to protect liquidity, handle prices and keep operational readiness.

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The Company cautions readers of this press launch to not place undue reliance on any forward-looking assertion as numerous components may trigger precise future outcomes, circumstances, actions or occasions to vary materially from the targets, expectations, estimates or intentions expressed within the forward-looking statements. Such components embody, with out limitation, continued dangers associated to Sherritt’s operations in Cuba and future actions taken by the U.S. authorities towards Cuba, together with with respect to the Govt Order; degree of liquidity of Sherritt, together with entry to capital and financing; the chance to or lack of Sherritt’s entitlements to future distributions (together with pursuant to the Cobalt Swap) from the Moa JV; the lack of the Company to adjust to debt restrictions and covenants; the lack of the Company to adjust to the itemizing necessities of the Toronto Inventory Change or one other acknowledged inventory trade; uncertainty within the capacity of the Company to implement authorized rights in international jurisdictions; uncertainty relating to the interpretation and/or software of the relevant legal guidelines in international jurisdictions; tax dangers; political, financial and different dangers of international operations; safety market fluctuations and value volatility; dangers associated to environmental liabilities together with legal responsibility for reclamation prices, tailings facility failures and poisonous gasoline releases; compliance with relevant atmosphere, well being and security laws and different related issues; dangers related to governmental rules relating to local weather change and greenhouse gasoline emissions; dangers referring to neighborhood relations; sustaining social license to develop and function; dangers related to the operation of huge tasks typically; the flexibility to switch depleted mineral reserves; dangers related to the Company’s three way partnership companions; dangers related to mining, processing and refining actions; reliance on key personnel and expert staff; dangers associated to the Company’s company construction; international trade and pricing dangers; credit score dangers; future market entry; rate of interest modifications; dangers in acquiring insurance coverage; uncertainties in labour relations; authorized contingencies; dangers associated to the Company’s accounting insurance policies; uncertainty within the capacity of the Company to acquire authorities permits; failure to adjust to, or modifications to, relevant authorities rules. The important thing dangers and uncertainties needs to be thought of together with the chance components described within the Company’s different paperwork filed with the Canadian securities authorities, together with with out limitation the “Managing Threat” part of the Administration’s Dialogue and Evaluation for the three months and yr ended December 31, 2025 and the Annual Data Type of the Company dated March 23, 2026 for the interval ending December 31, 2025, which is offered on SEDAR+ at www.sedarplus.ca. The forward-looking data and statements contained on this press launch are made as of the date hereof and the Company undertakes no obligation to replace publicly or revise any oral or written forward-looking data or statements, whether or not on account of new data, future occasions or in any other case, besides as required by relevant securities legal guidelines. The forward-looking data and statements contained herein are expressly certified of their entirety by this cautionary assertion.

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