Nexa Resources (NEXA) Corporate presentation summary

Ownership and business profile

• Votorantim held ~64.7% of equity; its Aug. 27, 2026 share-for-share agreement with Boliden would transfer the controlling stake, leaving Boliden with 64.7% and Votorantim with ~7% of Boliden.

• A top-six global zinc producer with 5 polymetallic mines, 3 zinc smelters and 65+ years of experience, operating across Brazil and Peru.

• Zinc metal market share exceeded 80% in Brazil and was 100% in Peru in 2025; 50% of sales went to high-premium markets.

• Integrated platform combines mining, smelting and by-products; mining-smelting integration was ~50–55% currently, with 60–65% expected at Aripuanã full production.

Operations and growth projects

• FY2025 production: 316kt zinc, 33kt copper, 63kt lead and 11Moz silver; 2026 guidance: 335kt zinc, 28kt copper, 64kt lead and 11Moz silver.

• Aripuanã 3Q26 treated ore was 471kt and zinc output 13.0kt, up 48% QoQ; plant utilization averaged 84%, reaching 90% in September, as the fourth tailings filter stabilized.

• Cerro Pasco Phase I mechanical completion was expected in Dec. 2026; MEIA approvals were expected Mar.–Apr. 2027, with pumping start in early 3Q27.

• Mineral Reserves grew ~72% since 2012; exploration spans Peru, Brazil and Namibia, with >75km of drilling annually.

• Cerro Pasco integration could enable access to ~12Mt of Atacocha underground resources; the base case plus upside could extend mine life to 15 years.

Financial position and priorities

• FY2025 revenue was US$3,002M and Adjusted EBITDA US$772M; 9M26 revenue was US$2,733M and Adjusted EBITDA US$869M.

• 3Q26 gross debt was US$1,752M, net debt US$1,456M and net leverage 1.24x; liquidity was US$735M including the RCF.

• 2025 capex was US$352M; updated 2026 capex guidance was US$420M, up 10% from US$381M, including US$41M for Cerro Pasco integration.

• Financial priorities include gross debt reduction, liquidity of at least US$500M and a target net leverage ratio of no more than 1.2x.

• Strategic plans target copper growth from ~35kt to 80–100kt annually through inorganic growth, with geographic diversification and ROIC of at least 15%.