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PEÑOLES Further information : Investor Relations@penoles.com.mx Luis Carlos Navarro : ( 52 ) 55 52 79 32 19 Celia Ortega : ( 52 ) 55 52 79 32 94 INDUSTRIAS PEÑOLES , S.A.B. DE C.V. REPORT OF EARNINGS FOR THE SECOND QUARTER OF 2026 . - Mexico City , August 4 , 2026 Industrias Peñoles , S.A.B. de C.V. ( " Peñoles " or the " Company " ) ( BMV : PE & OLES ) , a mining group with integrated operations for the smelting and refining of non - ferrous metals and the manufacture of chemical products , reports its consolidated results for the second quarter of 2026 ( 2Q26 ) and the main changes compared to the same period in 2025 ( 2025 ) . EXECUTIVE SUMMARY After reaching historic highs during the first quarter of the year , precious metals experienced technical correction in the second quarter of 2026 , beginning near the close of the previous period , particularly in the case of silver . This behavior responded to the evolution of expectations regarding United States monetary policy and the development of conflicts in the Middle East . Nevertheless , prices remained at historically high levels : silver averaged a price 118.6 % higher than that of the same quarter in 2025 , and gold 37.4 % above that period . Among industrial metals , copper stood out with an average price 40.0 % higher , followed by zinc , with an increase of 31.2 % , both driven by solid structural demand and supply restrictions . In contrast , lead showed a marginal variation of 0.4 % , as a result of elevated inventory levels and weaker demand . In mining operations , volume of ore deposited on leach pads was slightly higher ( + 1.0 % ) than the volume in 2Q25 . At the Herradura mine , the deposited volume increased due to the start of operations of phase XV of the leach pads and because selective mining , focused on reducing the volume of ore deposited with a better grade , was implemented during the previous fiscal year . This was offset by the lower volume deposited at Milpillas , due to low equipment availability and failures in the ore crushing area . Meanwhile , the volume of ore milled and processed in the plants of the mining units increased by 4.3 % , mainly due to production at Tizapa , whose operations were suspended during the same quarter of the previous year due to a strike at the unit . Additional contributions came from higher ore processing in the dynamic leaching plants at Herradura , and in the beneficiation plants at Sabinas and Fresnillo . These operations offset the lower milling at Capela - as contemplated in the operational plans to process better ore grades and extend the useful life of the tailings deposit - as well as at Velardeña , Ciénega , and Saucito . The Tizapa operation favored the quarterly production of all metal contents , recording increases compared to the same period of the previous year . In addition to Tizapa's contribution , gold grew by 6.5 % due to higher ore grades at Fresnillo , Juanicipio , and Capela . These units offset the lower gold production at Herradura and San Julián Veins due to lower ore grades . Meanwhile , silver production increased by 2.4 % , driven by higher ore grades at Sabinas and Fresnillo , as well as the higher grade and recovery at Capela , which offset the lower production at Saucito , Ciénega , and San Julián Veins- due to lower ore milling , lower grades , and lower recoveries — and at Juanicipio , due to a lower volume of processed ore and lower recovery . Lead and zinc , whose increases 1