Ero Copper Corp. (TSX: ERO, NYSE: ERO) is pleased to announce that, in return for upfront proceeds of $50 million, it has extended the June 2021 Precious Metals Purchase Agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold Inc. under an additional precious metals purchase agreement in relation to a portion of future gold production from the Xavantina Operations in Mato Grosso, Brazil.

The Stream Supplement is incremental to the Original Xavantina Stream. Under the terms of the Stream Supplement, Ero has received a further $50 million in proceeds from Royal Gold, bringing total proceeds from Royal Gold under the Xavantina streaming agreements to $160 million since 2021. In exchange, the Company has extended the gold delivery threshold milestones under Stage II (as further defined below) and has agreed to expand the area of influence covered by the stream to incorporate additional tenements acquired by the Company since the Original Xavantina Stream was completed. The delivery of additional ounces under the Stream Supplement is expected to commence in 2028.

“The performance and growth prospects for the Xavantina Operations, combined with recent increases in mineral reserves and resources, creates an opportunity to capitalize on what continues to be a significant dislocation of value for the Xavantina Operations with a strong strategic partner in Royal Gold,” said Makko DeFilippo, President & Chief Executive Officer.

“Proceeds from the Stream Supplement will support ongoing growth and asset integrity investment programs at the Xavantina Operations, which were included in our 2025 capital expenditure guidance. We continue to see significant potential in the Xavantina Operations. With the support of Royal Gold, we are focused on positioning the mine for future growth, improved operating performance and long-term value creation.”

KEY TERMS OF EXTENDED XAVANTINA STREAM

• Stage I: Royal Gold will continue to receive 25% of gold produced in exchange for cash payments equal to 20% of the prevailing spot gold price for the first 49,000 ounces delivered. Stage I remains unchanged from the Original Xavantina Stream, with a cumulative 45,177 ounces delivered as of December 31, 2024.
• Stage II: Royal Gold will receive 25% of gold produced in exchange for cash payments equal to 40% of the prevailing spot gold price until a cumulative 160,000 ounces have been delivered.
• Stage III: Following the completion of Stage II, Royal Gold will receive 10% of gold production for the remaining life of mine in exchange for cash payments equal to 40% of the prevailing spot gold price. The terms of Stage III remain unchanged from the Original Xavantina Stream.

In effect, the Stream Supplement equates to an additional 40,200 ounces of gold to be delivered to Royal Gold, for which it will make cash payments equal to 40% of the prevailing spot gold price.

All terms and conditions of the Original Xavantina Stream remain in place. For more information please see the Company’s press release dated June 30, 2021.

GenCap Mining Advisory Ltd. acted as financial advisor to the Company.

ABOUT ERO COPPER CORP

Ero Copper is a high-margin, high-growth copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company’s primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. (“MCSA”), 100% owner of the Company’s Caraíba Operations, which are located in the Curaçá Valley, Bahia State, Brazil, and the Tucumã Operation, an open pit copper mine located in Pará State, Brazil. The Company also owns 97.6% of NX Gold S.A. (“NX Gold”) which owns the Xavantina Operations, an operating gold and silver mine located in Mato Grosso State, Brazil. In July 2024, the Company signed a definitive earn-in agreement with Vale Base Metals for a 60% interest in the Furnas Copper-Gold Project, located in the Carajás Mineral Province in Pará State, Brazil. For more information on the earn-in agreement, please see the Company’s press releases dated October 30, 2023 and July 22, 2024. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations, Tucumã Operation and the Furnas Copper-Gold Project, can be found on the Company’s website (www.erocopper.com), on SEDAR+ (www.sedarplus.ca/landingpage/) and on EDGAR (www.sec.gov).