Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 29

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 29
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Item
5. Operating and Financial Review and Prospects.

MANAGEMENT’ S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial
statements and the related notes and other information included elsewhere in Annual Report. This discussion contains forward-looking
statements that are based on management’s current expectations, estimates and projections about our business and operations. Our
actual results may differ materially from those currently anticipated and expressed in such forward-looking statements and as a result
of the factors we describe under “ Risk Factors” and elsewhere in this Annual Report. See “ Special Note Regarding Forward-looking
Statements” and “ Risk Factors.” We undertake no obligation to update publicly any forward-looking statements for any
reason, even if new information becomes available or other events occur in the future, other than as required by law.

The
discussion and analysis of the financial condition and results of operations of certain items for the fiscal year ended December 31,
2022, and year-to-year comparison between fiscal year ended December 31, 2023, and December 31, 2022, that are not included in this Form
20-F can be found in “ Item 5. Operating And Financial Review And Prospects” of our Form 20-F for the fiscal year ended December
31, 2023 filed with the SEC on March 12, 2024, which is incorporated by reference herein.

5. A Operating Results

Except
as may be otherwise indicated, all dollar amounts are stated in U. S. dollars, our reporting currency. The following table
sets out the exchange rates, based on the data from the website of Brazil’s “ Banco Central” (an equivalent to the U. S.
Federal Reserve), for the conversion of the Brazilian real (R$) currency into the United States dollar (US$), for the period from January
1, 2023, to December 31, 2023 and the period from January 1, 2024, to December 31, 2024. The average exchange rates are based on the
average of the daily closing exchange rates during such periods:

                             Average                  High                  Low                          
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Fiscal                     R$           5.3905      R$        6.1991      R$       4.8543      6.192