Hochschild Mining (HOC) Investor presentation summary

Strategic priorities

• Focused on core precious-metal assets in the Americas, with operations in Peru, Brazil and Argentina and growth projects in Brazil and Peru.

• Strategy centres on operational excellence, brownfield exploration, ESG, disciplined capital allocation, organic growth, debt repayment and capital returns.

• 2026 production guidance is 300,000–328,000 GEO; revised AISC guidance is $2,380–$2,500/GEO, with a 73% gold and 27% silver mix.

Operations and exploration

• Inmaculada 2026 production guidance is 174,000–185,000 Au Eq oz; 80 veins have been discovered, with total resources of c.5.2 moz Au Eq and additional resource drilling underway.

• Mara Rosa guidance is 67,000–80,000 oz; reorganisation is on track, filtering issues were resolved and the combined run rate rose ~75% since November 2025.

• San Jose guidance is 59,000–63,000 attributable Au Eq oz; 2026 exploration includes drilling at Huevos Verdes, Ayelen and Maura, with a new target identified northwest of Saavedra.

• Royropata’s modified EIA was recently filed; community agreements were achieved in 2024, and 40 drill platforms are planned to test four structures and breccia bodies.

• More than 50 cost-efficiency initiatives are underway or completed, with estimated EBITDA impact of $50m+.

Growth projects

• Monte do Carmo is a fully permitted feasibility-stage gold project; updated economics and FID are expected by end-2026, detailed engineering by end-H1 2027 and start-up in late 2028.

• Royropata is positioned to deliver 100,000 oz+ per year from 2028; the project is near existing infrastructure, including the Selene plant.

• Inmaculada and Pallancata district brownfield exploration covers 152,975 ha, with 6 moz+ of brownfield additions to date and further mid-term targets identified.