Hochschild Mining (HOC) Investor presentation summary

Portfolio and strategy

• Precious-metals producer with 3 mines across Peru, Brazil and Argentina; 8moz Au Eq resource base and two medium-term growth projects.

• Strategy centers on brownfield resource growth, operational efficiency, ESG performance and disciplined capital allocation across organic investment, debt repayment and shareholder returns.

• 1.7moz Au Eq added through brownfield exploration in 2025, including 1.1moz at Royropata; on track to exceed long-term upside targets.

Operations and guidance

• 2026 attributable production guidance: 300,000–328,000 GEO; AISC $2,157–$2,320/GEO; metal mix 73% Au and 27% Ag.

• Inmaculada 2026 guidance: 174,000–185,000 Au Eq; drilling plan totals 17,890m, targeting 0.25moz+ of additional resources.

• Mara Rosa guidance: 67,000–80,000oz in 2026; reorganisation is on track, production is ramping toward full capacity in H1 2026 and run rates have risen since Sep 2025.

• San Jose 2026 attributable guidance: 59,000–63,000oz Au Eq; exploration targets NW–NS structures and resource replacement near the current mine.

Growth projects and exploration

• Monte do Carmo is fully permitted; 2026 work includes completing engineering and updating economics, with FID expected in Q3 2026 and production targeted for 2028.

• Royropata project EIA modification is being compiled for filing in Aug 2026; the project is expected to deliver 100,000oz+ per year from 2028.

• Inmaculada began with one vein in 2015; 80 veins have since been discovered, with c.5.2moz Au Eq resources.

• Pallancata/Royropata has 94 discovered veins and c.5.6moz+ Au Eq resources; 1.1moz was added there in 2025.

• Mara Rosa near-mine drilling has added resources below the open pit; exploration evaluates a c.20km trend and aims to add 1 year+ of inferred resources.