Horizonte Minerals PLC — Capital/Financing Update 2021

Nov 24, 2021

Horizonte Minerals Plc

Treasury Offering of Ordinary Shares
November 24, 2021

A prospectus supplement containing important information relating to the securities described in this document will be filed with the securities regulatory authorities in each of the provinces of Canada, except Québec.

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces of Canada, except Québec. A copy of the final base shelf prospectus, any amendment to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed is required to be delivered with this document. This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision. Copies of the final base shelf prospectus, and any applicable shelf prospectus supplement, may be obtained from BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.com.

These securities have not been, and will not be, registered under the U.S. Securities Act, or any U.S. state securities laws. Accordingly, these securities may not be offered, sold or delivered, directly or indirectly, in the United States of America except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

Terms and Conditions

Issuer: Horizonte Minerals Plc (the "Company").

Offering: Treasury offering of 126,072,398 ordinary shares ("Ordinary Shares")

Offering Price: C$0.12 per Ordinary Share

Issue Amount: C$15,128,687.76

Use of Proceeds: The net proceeds of the Offering are intended to be used by the Company for construction and development activities of the Company's Araguaia project in Brazil and for working capital and general corporate purposes.

Form of Offering: Marketed by way of a final base shelf prospectus and prospectus supplement filed in all provinces of Canada, other than Québec.

Concurrent Offering: Concurrent with the completion of the Offering, the Company will issue 606,123,712 ordinary shares at a price of £0.07 per ordinary share pursuant to a placing in the United Kingdom and certain other jurisdictions outside Canada. The combined deal size of both offerings is expected to be approximately US$69 million.

Listing: The Company has applied to list the Ordinary Shares on the Toronto Stock Exchange (the "TSX") and will agree in the Agency Agreement to apply to the AIM Market of the London Stock Exchange ("AIM") for admission to trading on the AIM. Listing is subject to the approval of the TSX in accordance with its applicable listing requirements. The existing ordinary shares are listed on TSX under the symbol "HZM" and on AIM under the symbol "HZM".

Eligibility: Eligible for RRSPs, RRIFs, RESPs, TFSAs, RDSPs and DPSPs.

Bookrunner: BMO Capital Markets, Paradigm Capital

Commission: 4.0% + 1.0% incentive fee (payable to Bookrunners at Company's discretion)

Closing: December 22, 2021