Hudbay Minerals Inc · TSX:HBM
Hudbay Minerals — Q2 2025 Earnings Presentation
15 slides from Hudbay Minerals's earnings presentation, Aug 13, 2025
Slide 1: Q2 2025 Results Presentation
Q2 2025 Results Presentation August 13, 2025
Slide 2: Cautionary Information
Cautionary Information 2 This presentation contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward-looking information. Of
Slide 3: Strong Q2 2025 Financial Performance
Strong Q2 2025 Financial Performance 3 DELIVERING STABLE PRODUCTION AND INDUSTRY-LEADING MARGINS TO GENERATE MEANINGFUL CASH FLOW KEY RESULTS SUMMARY $245M $88M 30kt ($0.02)/lb Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q2 2025 Free Q2 2025 Cu Q2 2025 Production1 Adj. EBITDA1 Cash Flow2 Production Cash Cost1 C
Slide 4: Continued Free Cash Flow Generation & Further Debt Reduction
Continued Free Cash Flow Generation & Further Debt Reduction 4 FUND GROWTH INITIATIVES WITH ENHANCED BALANCE SHEET AND DIVERSIFIED CASH FLOWS Eight consecutive quarters of meaningful free cash flow generation $413M $626M $434M 0.4x Strong leverage to higher Cu and Au prices with 36% of revenues from
Slide 5: Peru Operations Review
Peru Operations Review 5 STEADY OPERATING PERFORMANCE DELIVERED PRODUCITON AND COSTS IN LINE WITH EXPECTATIONS SUMMARY OF PERU OPERATING RESULTS 22kt 7koz $1.45/lb Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q2 2025 Q2 2025 Constancia ore mined1 mt 6.7 8.6 5.3 Cu Production Au Production Cash Cost1 Pampacancha
Slide 6: Manitoba Operations Review
Manitoba Operations Review 6 DELIVERING STRONG GOLD PRODUCTION WHILE SHOWING RESILIENCE DURING WILDFIRES SUMMARY OF SNOW LAKE OPERATING RESULTS 43koz 1.6kt $710 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q2 2025 Q2 2025 Ore mined kt 303.1 384.2 385.5 Au Production Cu Production Gold Cash Cost1 Combined Ore mil
Slide 7: British Columbia Operations Review
British Columbia Operations Review 7 CONTINUING TO DRIVE OPERATIONAL IMPROVEMENTS FROM ONGOING OPTIMIZATION INITIATIVES SUMMARY OF COPPER MOUNTAIN OPERATING RESULTS 6.6kt 5.7koz $2.39/lb Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q2 2025 Q2 2025 Ore mined1 mt 2.5 2.6 2.2 Cu Production Au Production Cash Cost1
Slide 8: $600M Strategic Investment from Mitsubishi Corporation
$600M Strategic Investment from Mitsubishi Corporation 8 HIGHLY ACCRETIVE JOINT VENTURE TRANSACTION WITH PREMIER PARTNER TO FUND COPPER WORLD PROJECT TRANSACTION OVERVIEW FURTHER DERISKS THE ADVANCEMENT OF COPPER WORLD Joint Venture (“JV”) $600M +90% Ownership ✓ REALIZES ATTRACTIVE ✓ PROVIDES FURTHE
Slide 9: Mitsubishi Corporation: Premier Strategic Partner
Mitsubishi Corporation: Premier Strategic Partner 9 LARGEST JAPANESE TRADING HOUSE & EXPERIENCED JV PARTNER AT WORLD-CLASS COPPER MINES Mitsubishi (~$80B market cap) is a globally integrated trading and investment company that develops and operates LARGEST MINES GLOBALLY BY 2024A COPPER PRODUCTION (
Slide 10: Reduces Hudbay's Remaining Equity Contribution to ~$200M
Reduces Hudbay’s Remaining Equity Contribution to ~$200M 10 FINANCIAL FLEXIBILITY WITH PRUDENT FINANCING PLAN AND STRENGTHENED BALANCE SHEET +90% ~$1B ~$200M OPTIMAL PROJECT FUNDING STRUCTURE2 Hudbay Equity Levered Project Hudbay Pro Forma1 Remaining Hudbay JV Proceeds + Equity IRR to Hudbay Cash Ba
Slide 11: Achieved "3-P" Plan for Copper World
Achieved “3-P” Plan for Copper World 11 FULLY PERMITTED U.S. COPPER PROJECT WITH PRUDENT FINANCING IN PLACE COMPLETED TO COME In late 2022, Hudbay unveiled a prudent financial plan with three 2022 2023 2024 2025 2026 key prerequisites to be achieved OBJECTIVE for a potential project sanctioning. PLA
Slide 12: Significant Investment in U.S. Critical Minerals
Significant Investment in U.S. Critical Minerals 12 “MADE IN AMERICA” COPPER CATHODE TO SUPPORT DOMESTIC U.S. COPPER CONSUMPTION INVESTING IN U.S. CRITICAL MINERALS INFRASTRUCTURE & SIGNIFICANT JOB CREATION Copper World represents one of the largest +$1.5B1 +$850M +400 up to 3,000 investments in sou
Slide 13: Copper World Project Overview
Copper World Project Overview 13 LARGE SCALE, FULLY-PERMITTED OPEN PIT COPPER PROJECT IN THE U.S. WITH ATTRACTIVE ECONOMICS PROJECT HIGHLIGHTS LONG-LIFE PRODUCTION PROFILE (PFS) 4.00 Copper World Production (Ktonne Cu) Sustaining Cash Cost (US$ / lb Cu) Cash Cost (US$ / lb Cu) Large Reserve Base wit
Slide 14: Hudbay's Attractive, Copper Weighted Production Growth
Hudbay’s Attractive, Copper Weighted Production Growth 14 COPPER WORLD DELIVERS +50% GROWTH IN CONSOLIDATED COPPER PRODUCTION ANNUAL CONSOLIDATED COPPER PRODUCTION1 HUDBAY LONG-TERM PRODUCTION PROFILE2 GEOGRAPHIC MIX COMMODITY MIX ~250 2% 3% Copper Production (000 tonnes) Consolidated Copper World +
Slide 15: Questions
QUARTERLY EARNINGS / Q2 2025 QUESTIONS TSX & NYSE: HBM 15