Hochschild Mining (HOC) Status update summary

Production and guidance

• Q3 attributable production was 74,004 GEO; 9M production was 225,835 GEO. FY 2026 guidance remains 300,000–328,000 GEO.

• Inmaculada produced 45,163 GEO in Q3 and 138,848 GEO in 9M; FY guidance remains 174,000–185,000 GEO.

• San Jose Q3 production declined amid extreme seasonal weather and mining in vein-border areas; grade recovery is expected in Q4. 9M production was 6.3m silver equivalent ounces.

• Mara Rosa produced 17,001 GEO in Q3 and 45,213 GEO in 9M; September output was 8,019 GEO. FY guidance remains 67,000–80,000 GEO.

Mara Rosa turnaround

• Contractor transition reached planned capacity; material movement hit nameplate levels toward quarter-end, and improved roads and access supported entry into higher-grade areas.

• Plant reliability, throughput and recoveries improved; the new thickener shortened filtration cycles, restored tailings-disposal continuity and resolved H1 water-management constraints.

• 2027 annual production is expected at 80,000–85,000 oz, subject to the budget process; rainy-season and possible El Niño preparations are underway.

Costs and financial position

• FY AISC guidance remains $2,380–$2,500 per GEO despite inflationary pressure in Argentina.

• 2027 cost outcomes depend on production rates, budgets and metal-price-related costs; mitigation initiatives are being pursued across the business.

• September-end cash, cash equivalents and short-term investments were ~$349m, versus $309m at June-end; net cash was ~$91m, versus $51m.

• Net cash/LTM EBITDA was ~0.10x at 30 September 2026.