Press release
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________________________________________________________________________________________ 21 October 2026 Production Report for Q3 and 9 months ended 30 September 2026 Mara Rosa turnaround strategy delivering improved performance; maintaining FY 2026 guidance Eduardo Landin, Chief Executive Officer commented:“We have delivered a strong operational performance during Q3 and remain on track to meet our full-year production and cost forecasts. At Mara Rosa,the operational turnaround is now nearing completion, with the mine benefiting from the positive impact of our new mining contractor. This contributed toa strong September, during which the mine produced just over 8,000 ounces of gold. We are encouraged by this progress and look forward to delivering arobust Q4. During the quarter, we also made significant progress across our growth pipeline. In August, we submitted the revised Environmental Impact Assessmentfor our Royropata project in Peru, an important milestone in advancing this high-quality project. We are also encouraged by the arrival of a new, pro-business government in Peru, which has expressed its commitment to attracting investment and supporting growth in the mining sector. In Brazil, theprogress achieved at Mara Rosa puts us in an ideal position to advance our next growth opportunity, Monte Do Carmo, where we are on track to present afinal investment decision by the end of the year.” Production overview Q3 2026 attributable production[1] 54,732 ounces of gold1.5 million ounces of silver74,004 gold equivalent ounces5.7 million silver equivalent ounces 9-month operational performance (attributable)166,160 ounces of gold4.6 million ounces of silver225,835 gold equivalent ounces17.4 million silver equivalent ounces Operational & exploration highlights Inmaculada performing in line with expectations: on track to meet full-year guidance Mara Rosa production increased in Q3 vs Q2 benefiting from successful operational turnaroundSeptember production at 8,019 gold equivalent ouncesMining contractor ramped up to full capacity during Q3 and currently accessing higher grade areas San Jose temporarily impacted by extreme winter weather conditions Development work continues at the Monte Do Carmo project - investment decision expected by year-end Additional encouraging results from 2026 brownfield drilling campaign ESG Lost Time Injury Frequency Rate of 0.84 (FY 2025: 0.97)[2] Fresh water used per tonne of ore processed: 0.17 m3/tonne (FY 2025: 0.27 m3/tonne) Recycled waste of 76.1% (FY 2025: 81.6%) Local workforce vs total workforce of 68.2% (FY 2025: 65.9%) Women in the workforce of 11.2% (FY 2025: 10.6%) Financial position Continued strong cash generation with total cash & cash equivalents & short-term investments of approximately $349 million as at 30September 2026 of ($309 million as at 30 June 2026) Net cash of approximately $91 million as at 30 September 2026 ($51 million as at 30 June 2026) Current Net Cash/LTM EBITDA of approximately 0.10x as at 30 September 2026 ________________________________________________________________________________________ A conference call will be held at 2.30pm (London time) on Wednesday 21 October 2026 for analysts and investors. Dial in details as follows:International Dial in: +44 330 551 0200;US Local: +1 786 697 3501Password: Hochschild Q3 Results Please dial into the call approximately ten minutes before the 2.30pm start time. A recording of the conference call will be available on demand on the Company’s website: www.hochschildmining.com ________________________________________________________________________________________ Overview
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In Q3 2026, Hochschild delivered attributable production of 74,004 gold equivalent ounces or 5.7 million silver equivalent ounces, supported by a strongperformance at Inmaculada and increased production at the Mara Rosa mine in Brazil, which produced over 8,000 ounces of gold in September alone. Thisbrought attributable production for the first nine months of 2026 to 225,835 gold equivalent ounces or 17.4 million silver equivalent ounces. The Company confirms that it remains on track to meet its 2026 production guidance of 300,000 to 328,000 gold equivalent ounces, as well as its revisedall-in sustaining cost guidance of $2,380-$2,500 per gold equivalent ounce. This is despite continued cost pressures in Argentina, reflecting the impact ofdomestic inflation. TOTAL GROUP PRODUCTION Q3 2026 Q2 2026 Q3 2025 YTD 2026 YTD 2025 Silver production (koz) 1,753 1,962 2,291 5,627 6,915 Gold production (koz) 62.56 66.33 58.01 192.89 189.75 Total silver equivalent (koz) 6,570 7,070 6,758 20,480 21,526 Total gold equivalent (koz) 85.33 91.82 87.76 265.97 279.56 Silver sold (koz) 1,701 1,971 2,068 5,651 6,687 Gold sold (koz) 61.46 66.05 53.21 193.91 184.27 Total production includes 100% of all production, including production attributable to Hochschild’s joint venture partner at San Jose. ATTRIBUTABLE GROUP PRODUCTION Q3 2026 Q2 2026 Q3 2025 YTD 2026 YTD 2025 Silver production (koz) 1,484 1,541 1,821 4,595 5,633 Gold production (koz) 54.73 56.22 48.37 166.16 164.03 Silver equivalent (koz) 5,698 5,870 5,545 17,389 18,264 Gold equivalent (koz) 74.00 76.23 72.02 225.83 237.19 Attributable production includes 100% of all production from Inmaculada and Mara Rosa and 51% from San Jose. Production Inmaculada Product Q3 2026 Q2 2026 Q3 2025 YTD 2026 YTD 2025 Ore production (tonnes treated) 364,134 358,667 345,774 1,062,859 1,018,494 Average grade silver (g/t) 115 108 137 115 148 Average grade gold (g/t) 2.70 2.89 3.25 2.91 3.39 Silver produced (koz) 1,201 1,100 1,331 3,511 4,292 Gold produced (koz) 29.57 31.11 33.86 93.25 104.38 Silver equivalent (koz) 3,478 3,496 3,938 10,691 12,329 Gold equivalent (koz) 45.16 45.40 51.14 138.85 160.12 Silver sold (koz) 1,199 1,098 1,327 3,499 4,278 Gold sold (koz) 30.06 31.34 34.17 94.48 105.37 Third quarter production at Inmaculada was 29,571 ounces of gold and 1.2 million ounces of silver which amounts to a gold equivalent output of 45,163ounces. Tonnage during the period was slightly higher than expected although this was offset by lower gold grades. Year-to-date, Inmaculada’s output is138,848 gold equivalent ounces (Q3 YTD 2025: 160,118 gold equivalent ounces), with the mine in line to deliver its full-year guidance of between 174,000and 185,000 gold equivalent ounces. San Jose (the Company has a 51% interest in San Jose) Product Q3 2026 Q2 2026 Q3 2025 YTD 2026 YTD 2025 Ore production (tonnes treated) 168,863 186,307 184,445 535,776 519,007 Average grade silver (g/t) 123 171 191 146 188 Average grade gold (g/t) 3.43 4.00 3.90 3.68 3.78 Silver produced (koz) 549 859 959 2,107 2,616 Gold produced (koz) 15.98 20.65 19.68 54.55 52.48 Silver equivalent (koz) 1,779 2,449 2,474 6,307 6,657 Gold equivalent (koz) 23.11 31.81 32.13 81.91 86.46 Silver sold (koz) 499 870 739 2,144 2,400 Gold sold (koz) 14.53 20.18 14.69 54.53 46.39 Production at San Jose was lower than in the previous quarter as a result of extreme seasonal weather conditions at the operation in addition to volatilityresulting from current mining operations being concentrated in the border areas of the veins. Output during the period totalled 0.5 million ounces of silverand 15,980 ounces of gold, equivalent to 1.8 million silver equivalent ounces. This brought production for the first nine months of the year to 6.3 millionsilver equivalent ounces (Q3 2025 YTD: 6.7 million ounces). The Company expects grades to recover in the fourth quarter. Mara Rosa Product Q3 2026 Q2 2026 Q3 2025 YTD 2026 YTD 2025 Ore production (tonnes treated) 558,911 447,886 141,501 1,443,370 1,130,138 Average grade silver (g/t) 0.25 0.31 0.25 0.27 0.31 Average grade gold (g/t) 1.08 1.08 1.16 1.07 0.97 Silver produced (koz) 3 3 1 9 7 Gold produced (koz) 17.01 14.57 4.47 45.10 32.89 Silver equivalent (koz) 1,313 1,125 346 3,481 2,540 Gold equivalent (koz) 17.06 14.61 4.49 45.21 32.98 Silver sold (koz) 3 3 2 9 8 Gold sold (koz) 16.87 14.54 4.35 44.90 32.51 At Mara Rosa, Q3 production improved further compared with Q2, reaching 17,001 gold equivalent ounces, with September marking the strongest monthof the year to date at 8,019 ounces.
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The transition to the new mining contractor was completed during the quarter, with the operation reaching planned mining capacity and material movementincreasing to nameplate levels towards the end of the period. This progress was complemented by improved operating conditions, more productivepushback activities and better haulage roads and access routes. Ongoing pushback development is expected to provide continued access to higher-gradeareas during the fourth quarter, building on the progressive improvement in grades achieved in September. With respect to the plant, the thickener has stabilised following commissioning and is performing above expectations, reducing filtration cycle times toplanned levels and restoring continuity in tailings disposal. This has also resolved the water management constraints reported in H1. Plant reliability andthroughput rates improved steadily during the quarter, with metallurgical recoveries returning to planned levels, supported by operational and maintenanceinitiatives outlined in the Q2 statement. Production for the first nine months of 2026 totalled 45,213 gold equivalent ounces (Q3 2025 YTD: 32,983 ounces) with full-year guidance of between67,000 and 80,000 gold equivalent ounces maintained. Average realisable prices and sales Average realisable precious metal prices in Q3 2026 (which are reported before the deduction of commercial discounts) were $3,840/ounce for gold and$61.8/ounce for silver (Q3 2025: $3,195/ounce for gold and $42.4/ounce for silver). For the first nine months of 2026, average realisable precious metalprices were $4,063/ounce for gold and $73.0/ounce for silver (Q3 YTD 2025: $2,937/ounce for gold and $36.5/ounce for silver). Advanced Project: Monte Do Carmo Work on Monte Do Carmo continued to advance across all key areas during Q3. Studies and engineering progressed on schedule, including updates to themine plan, while procurement activities were accelerated through early commitments for critical long-lead items. On site, preparation and earlyinfrastructure works continued to progress, alongside permitting activities, which remained on track to support a Final Investment Decision in December2026. Brownfield exploration InmaculadaDuring the third quarter of the year, the team carried out a further 5,598m of resource drilling in the Melisa, Lili, Veta NE and Vein 320 structures. Vein Results (resource) Melisa IMS26-380: 2.0m @ 3.1g/t Au & 149g/t AgIMS26-388: 1.5m @ 3.4g/t Au & 71g/t AgIMS26-395: 1.7m @ 4.0g/t Au & 39g/t AgIMS26-396: 1.5m @ 3.6g/t Au & 59g/t AgIMS26-398: 1.3m @ 0.9g/t Au & 110g/t AgIMS26-403: 2.3m @ 1.9g/t Au & 54g/t AgIMS26-404: 2.8m @ 2.6g/t Au & 161g/t AgIMS26-405: 1.8m @ 4.0g/t Au & 45g/t AgIMS26-406: 0.8m @ 1.1g/t Au & 75g/t AgIMS26-407: 4.0m @ 3.4g/t Au & 116g/t AgIMS26-408: 6.2m @ 2.9g/t Au & 129g/t AgIMS26-411: 1.8m @ 4.0g/t Au & 77g/t Ag Lili IMS26-380: 1.4m @ 2.4g/t Au & 20g/t AgIMS26-388: 1.4m @ 4.1g/t Au & 23g/t Ag Vein NE IMS26-407: 4.8m @ 2.9g/t Au & 54g/t AgIMS26-408: 1.0m @ 1.4g/t Au & 42g/t Ag Vein 320 IMS26-554: 1.4m @ 10.6g/t Au & 358g/t Ag During Q4, 3,500 meters of resource drilling will target resources in the Melisa and Lili veins and test the potential of the Monzonita target. San JoseA total of 1,900m was drilled in the Suspiro, Lau, R 10 and Norka structures. A further 4,082m of resource drilling was carried out in the San Jose area, inthe Marí, HVC, Norka, Lau and India veins. Vein Results (resource & potential) Mari SJD-3305: 2.1m @ 2.5g/t Au & 53g/t AgSJD-3308: 2.0m @ 5.1g/t Au & 360g/t AgSJD-3310: 1.9m @ 2.6g/t Au & 84g/t AgSJD-3314: 0.8m @ 0.9g/t Au & 99g/t AgSJD-3325: 0.8m @ 4.2g/t Au & 242g/t Ag Lau SJD-3323: 0.8m @ 5.0g/t Au & 474g/t Ag Norka SJD-3330: 1.6m @ 3.7g/t Au & 417g/t AgSJM-779: 0.8m @ 3.8g/t Au & 113g/t Ag HVC SJD-3334: 2.8m @ 10.9g/t Au & 840g/t Ag India SJD-3334: 1.2m @ 5.1g/t Au & 297g/t Ag R10 SJM-779: 0.8m @ 1.2g/t Au & 154g/t Ag Suspiro SJM-779: 0.9m @ 1.2g/t Au & 154g/t Ag During Q4 2026, drilling to test the potential at Frea E will continue as well as exploration work on the Maura and Franco veins. Mara RosaDuring Q3, 1,161m of potential drilling was executed in the Pastinho, Cajazeiras, and Carana structures, and 4,390m of resource drilling at the Araras andPosse targets. The highlights are as follows: Vein Results (resources) Pastinho 26PTN_068: 6.0m @ 0.3g/t Au26PTN_068: 10.4m @ 0.2g/t Au incl. 0.8m @ 1.0g/t Au26PTN_068: 0.8m @ 1.2g/t Au26PTN_069: 9.6m @ 0.8g/t Au incl. 1.7m @ 3.5g/t Au Araras 24POSP_017: 9.7m @ 0.5g/t Au incl. 2.4m @ 0.9g/t Au26POS_078: 0.7m @ 1.5g/t Au26POS_078: 4.7m @ 0.2g/t Au26POS_078: 4.5m @ 0.2g/t Au26POS_078: 8.7m @ 0.4g/t Au incl. 0.4m @ 4.0g/t Au26POS_081: 6.4m @ 0.2g/t Au26POS_081: 10.8m @ 0.7g/t Au incl. 0.3m @ 18.8g/t Au26POS_081: 1.9m @ 0.3g/t Au26POS_082: 11.9m @ 0.5g/t Au incl. 1.0m @ 4.9g/t Au26POS_082: 9.2m @ 0.9g/t Au incl. 4.0m @ 2.0g/t Au26POS_082: 13.2m @ 0.2g/t Au incl. 2.3m @ 0.5g/t Au26POS_083: 4.8m @ 0.3g/t Au incl. 0.6m @ 1.5g/t Au26POS_083: 1.1m @ 0.3g/t Au
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26POS_083: 0.9m @ 2.7g/t Au26POS_084: 0.7m @ 0.3g/t Au26POS_085: 3.6m @ 1.3g/t Au incl. 0.7m @ 5.0g/t Au incl. 0.3m @ 1.6g/t Au26POS_086: 8.1m @ 0.4g/t Au incl. 0.7m @ 1.0g/t Au incl. 0.6m @ 1.3g/t Au26POS_086: 15.3m @ 0.1g/t Au26POS_087A: 1.0m @ 1.1g/t Au26POS_087A: 8.4m @ 0.5g/t Au incl. 3.2m @ 1.1g/t Au26POS_089: 3.4m @ 1.1g/t Au incl. 0.6m @ 1.1g/t Au incl. 0.6m @ 5.0g/t Au26POS_089: 5.0m @ 0.6g/t Au incl. 1.2m @ 1.3g/t Au26POS_090: 12.3m @ 0.4g/t Au incl. 1.0m @ 4.2g/t Au26POS_090: 12.9m @ 0.1g/t Au26POS_091: 3.4m @ 1.0g/t Au incl. 0.8m @ 2.9g/t Au Posse 25POSP_022: 4.3m @ 0.3g/t Au26POS_083: 1.8m @ 0.3g/t Au26POS_087A: 7.6m @ 0.8g/t Au incl. 4.5m @ 1.2g/t Au26POS_093: 7.4m @ 0.6g/t Au incl. 2.1m @ 0.9g/t Au During Q4 2026, resource drilling will continue on the Araras structure. Monte Do CarmoDuring Q3, 647m of potential drilling was carried out at the Fartura and Adebaldo structures and 302m of resource drilling at the Fartura target. Vein Results (resources) Fartura 26FAR_013: 9.6m @ 0.8g/t Auincl. 5.5m @ 1.2g/t Au26FAR_013: 10.6m @ 0.5g/t Auincl. 2.2m @ 1.1g/t Au26FAR_013: 1.8m @ 0.4g/t Au26FAR_013: 1.1m @ 0.6g/t Auincl. 0.6m @ 1.1g/t Au26FAR_014: 1.0m @ 0.3g/t Au Financial position Total cash and cash equivalents and short-term investments were approximately $349 million as at 30 September 2026, resulting in a net cash position ofapproximately $91 million. ________________________________________________________________________________________ Enquiries: Hochschild Mining PLCCharles Gordon, Head of Investor Relations +44 (0)20 3709 3264 Hudson Sandler (Public Relations)Charlie Jack/Harry Griffiths Hochschild@hudsonsandler.com+44 (0)20 7796 4133 ________________________________________________________________________________________ About Hochschild Mining PLCHochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and cross trades on theOTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has overfifty years' experience in the mining of precious metal epithermal vein deposits and operates two underground epithermal vein mines: Inmaculada, locatedin southern Peru; and San Jose in southern Argentina, and an open-pit gold mine, Mara Rosa, located in the state of Goiás, Brazil. Hochschild also hasnumerous long-term projects throughout the Americas. ________________________________________________________________________________________ Forward looking statementsThis announcement may contain forward looking statements. By their nature, forward looking statements involve risks and uncertainties because theyrelate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining PLCmay, for various reasons, be materially different from any future results, performance or achievements expressed or implied by such forward lookingstatements. The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by theListing Rules and applicable law, the Board of Hochschild Mining PLC does not undertake any obligation to update or change any forward lookingstatements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast. NoteThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market AbuseRegulation (Regulation (EU) No.596/2014). Upon the publication of this announcement via a Regulatory Information Service, this inside information isnow considered to be in the public domain. LEI: 549300JK10TVQ3CCJQ89 - ends -
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