Industrias Penoles Sab De Cv · BMV:PE_OLES
Industrias Penoles Sab De Cv — Q1 2026 Earnings Presentation
20 slides from Industrias Penoles Sab De Cv's earnings presentation, March 2026
Slide 1: Corporate Presentation as of March 2026
CORPORATE PRESENTATION AS OF MARCH 2026 SOLID RESULTS WITH A SUSTAINABLE VISION 1
Slide 2: Operating Highlights of 1Q'26
OPERATING HIGHLIGHTS OF 1Q’26 MINING METALS CHEMICALS Ore milled increased compared with 1Q25, driven by Gold production decreased compared with 1Q25, Sodium sulfate production increased due to the the restart of Tizapa, whose operations had been primarily due to lower production at Herradura and op
Slide 3: Key Financial Metrics
KEY FINANCIAL METRICS SALES EBITDA REVENUE BY PRODUCT AND MARKET3 US$ 3,444.5 mm US$ 1,635.4 mm 1Q’26 IQ’26 1Q 2026 US$ 10,293.7 mm US$ 4,256.3 mm US$3,444.5mm LTM LTM CASH FLOW FROM OP. DEBT RATIOS US$ 616.0 mm ̴ -0.1 x Net Leverage Ratio 1 1Q’26 US$ 2,567.3 mm ̴ 25.9 x LTM Coverage Ratio 2 1Q 2025
Slide 4: Economic Environment and Metals Prices
ECONOMIC ENVIRONMENT AND METALS PRICES GOLD London SILVER Comex USD/oz USD/oz In the first quarter of 2026, average gold and silver prices reached all-time highs in January. The strengthening of the dollar and high interest rates caused a correction, however, the prices of these metals remained high
Slide 5: Operating Results
OPERATING RESULTS 5
Slide 6: Contribution by Mine to Metal Production (2026)
CONTRIBUTION BY MINE TO METAL PRODUCTION (2026)1 GOLD SILVER 152,087 Oz 15,567 kOz LEAD ZINC COPPER* 23,497 Ton 66,673 Ton 4,923 Ton 6 Notes: 1/ Includes 100% of Fresnillo plc payable production, */Copper cathodes
Slide 7: Historical Mine Production
HISTORICAL MINE PRODUCTION GOLD SILVER LEAD ZINC COPPER Notes: 7
Slide 8: Historical Refined Production
HISTORICAL REFINED PRODUCTION GOLD SILVER Contribution to refined production from: LEAD ZINC Notes: 8
Slide 9: Peñoles' Cash Costs Trends
PEÑOLES’ CASH COSTS TRENDS Tizapa Sabinas 1 2 Velardeña Capela Notes: 1/ Cash cost = [Cost of goods sold (production cost minus depreciation +- change in inventories) + sales expense (treatment fees, shipping and write-downs, extraordinary ore rights)]/pounds of zinc equivalent. 2/ All-in = CC1 + co
Slide 10: Fresnillo's Cash Costs Trends
FRESNILLO’S CASH COSTS TRENDS Fresnillo Saucito San Julián (Veins) 2 AISC3 2 Juanicipio Notes: 1/Disseminated Ore Body. 2/Cash cost = {total cash cost (cost of sales plus treatment and refining charges, less depreciation) - revenue from by-products }/ silver or gold ounces sold. 3/cash cost plus on-
Slide 11: Fresnillo's Cash Costs Trends
FRESNILLO’S CASH COSTS TRENDS Ciénega Herradura 2 AISC3 2 Notes: 1/Disseminated Ore Body. 2/Cash cost = {total cash cost (cost of sales plus treatment and refining charges, less depreciation) - revenue from by-products }/ silver or gold ounces sold. 3/cash cost plus on-site general, corporate and ad
Slide 12: Historical Chemicals Production (ton)
HISTORICAL CHEMICALS PRODUCTION (ton) SODIUM SULFATE MAGNESIUM OXIDE AMMONIUM SULFATE1 MAGNESIUM SULFATE Notes: 1/Maquila not included. 12
Slide 13: Financial Results
‘809001, BUREAU VERITAS Conia N#1956
Slide 14: Financial Highlights – Income Statement
FINANCIAL HIGHLIGHTS – INCOME STATEMENT INCOME STATEMENT 1Q'26 1Q'25 % Chg. INCOME STATEMENT HIGHLIGHTS 1Q’2026 + Gross sales 3,440.0 1,798.0 91.3 Net Sales increased due to higher realized prices, primarily in the sale of silver, gold, + Hedging results 4.5 0.0 #DIV/0! and concentrates followed by
Slide 15: Financial Highlights – Cost of Production
FINANCIAL HIGHLIGHTS – COST OF PRODUCTION COST OF PRODUCTION BREAKDOWN Higher Production Cost in 1Q’26 is derived from: US$ 822.6 mm US$ 710.2 mm i. the unfavorable effect of the peso's appreciation against the U.S. dollar on peso-denominated costs (approximately 50% of production costs are denomina
Slide 16: Financial Highlights – Quarterly Net Income Analysis
FINANCIAL HIGHLIGHTS – QUARTERLY NET INCOME ANALYSIS Higher taxable income for the period, combined with the higher Higher metal prices, especially gold and provision deferred Silver, and the better taxes. realization price in the sale of concentrates, and copper matte Notes:.1/ Includes the effect
Slide 17: Sales Volume Trend
SALES VOLUME TREND GOLD (Oz) SALES VOLUME Units 1Q'26 1Q'25 %Chng SILVER (koz) Gold Oz 199,842 234,768 -14.9 Silver Koz 15,873 18,695 -15.1 Lead Ton 24,479 31,385 -22.0 LEAD (Ton) Zinc Ton 50,544 56,534 -10.6 Copper Ton 2,139 2,143 -0.2 Copper matte Ton 7,058 3,793 86.1 ZINC (Ton) Concentrates Ton 9
Slide 18: Financial Highlights – Balance Sheet
FINANCIAL HIGHLIGHTS – BALANCE SHEET BALANCE SHEET As of: Mar'26 Dec'25 % Chg. BALANCE SHEET As of: Mar'26 Dec'25 % Chg. Current assets 8,301.4 7,316.9 13.5 Current liabilities 2,403.0 2,312.1 3.9 Inventories 2,776.6 2,627.7 5.7 Interest-bearing loans 701.2 514.4 36.3 Trade and other accounts receiv
Slide 19: Financial Highlights – Cash Flow
FINANCIAL HIGHLIGHTS – CASH FLOW CASH FLOW As of: YTD'26 YTD'25 % Chg. CASH FLOW As of: YTD'26 YTD'25 % Chg. Profit for the period 943.2 261.9 260 Adjustments to reconcile profit for the period to net cash inflows from operating activities: Cash generated from operations 305.5 466.4 -35 Depreciation
Slide 20: Contact
CONTACT Mauricio García, CFO. Mauricio_Garcia@penoles.com.mx Investor Relations Investor_Relations@penoles.com.mx www.penoles.com.mx Disclaimer This presentation contains certain calculations and forward-looking information regarding to Industrias Peñoles, S.A.B. de C.V. (Peñoles) and its subsidiari
Industrias Peñoles, S.A.B. de C.V. — Q1 2026 Earnings Presentation on 6ix