Ero Copper Corp. announce that it has priced an offering of USD 400 million aggregate principal amount of Senior Notes due 2030. Interest on the Notes, which will be issued at par, will accrue at an annual rate of 6.50%, payable semi-annually in arrears.

The Notes will mature on February 15, 2030. The offering is expected to close on February 2, 2022, subject to customary closing conditions. The Notes will be unconditionally guaranteed on a senior unsecured basis by the Company's 99.6%-owned Mineração Caraíba S.A. subsidiary.

The Company intends to use the net proceeds from this offering, together with cash on hand, to repay the outstanding balance under its senior secured revolving credit facility of approximately $50 million, for capital expenditures related to the construction of the Boa Esperança Project, which is expected to commence in Second Quarter 2022 subject to receipt of approval by the Board of Directors of the Company, and for general corporate purposes. Conditioned on the successful closing of the proposed Notes offering, the Company expects to reduce the size of its senior secured revolving credit facility from $150 million to $75 million.