Fresnillo Plc · LSE:FRES
Fresnillo — Mining Forum Americas 2025
18 slides from Fresnillo's conference presentation, Sep 15, 2025
Slide 1: Mining Forum Americas 2025
MINING FORUM AMERICAS 2025 O C TAV I O A LV Í D R E Z , C E O 15 SEPTEMBER 2025 LSE: FRES BMV: FRES www.fresnilloplc.com
Slide 2: Disclaimer
DISCLAIMER 2 This document includes statements that are, or may be deemed to be, “forward-looking A number of factors could cause results and developments to differ materially from those statements”. These forward-looking statements can be identified by the use of forward- expressed or implied by th
Slide 3: Fresnillo at a Glance
FRESNILLO ATA GLANCE ba FRESNILLO.
Slide 4: Fresnillo at a Glance
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – F R E S N I L L O AT A G L A N C E 4 Operating Mines Reserves 2 3 Asset Type Main metal 2 Reserves (Gold) Year (Silver) 1 Fresnillo Underground Silver primary 98.8 moz 272 koz 1554 2 Saucito Underground Silver primary 110.9 moz 411 koz 2011 3 Juanicipi
Slide 5: Disciplined Approach to Development
MINING FORUM AMERICAS 2025 – DISCIPLINED APPROACH TO 5 DEVELOPMENT The deepened San Carlos shaft was optimised in 1Q25 following its commissioning in Commercial production at Commercial production at Saucito II San Julián phase II 4Q24 Soledad-Dipolos began Noche Buena began commissioning commission
Slide 6: Investment Proposition
y y INVESTMENT PROPOSITION aN FRESNILLO.
Slide 7: Investment Proposition: Driving Sustainable Value Creation
MINING FORUM AMERICAS 2025 – INVESTMENT PROPOSITION 7 DRIVING SUSTAINABLE VALUE CREATION WORLD’S #1 SILVER CONSIDERABLE HIGH QUALITY PRODUCER GOLD PRODUCTION MINING ASSETS 24.9 Moz of silver in 1H25 313.8 koz of gold in 1H25 2.25Boz 38.5Moz Silver Resources Gold Resources including Silverstream 30 J
Slide 8: Operational Performance Highlights
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – O P E R AT I O N A L P E R F O R M A N C E 8 HIGHLIGHTS ATTRIBUTABLE HALF YEAR SILVER ATTRIBUTABLE HALF YEAR GOLD PRODUCTION PRODUCTION 24.9MOZ 313.8KOZ • Strong gold production through optimised operations, particularly at Herradura • Silver productio
Slide 9: Operations: Central Region
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – O P E R AT I O N S 9 CENTRAL REGION FRESNILLO SAUCITO JUANCIPIO For FY25 silver ore grade is expected to be in the range of For FY25 silver ore grade is expected to be in the range of The silver ore grade in 2025 is expected to be in the range of 160 t
Slide 10: Operations: Northern Region
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – O P E R AT I O N S 10 NORTHERN REGION HERRADURA CIÉNEGA SAN JULIÁN (VEIN SYSTEM) 2025 gold ore grade expected to be in the range of 0.50– 2025 gold and silver ore grades are estimated to be in the 2025 silver and gold ore grades guidance expected to 0.
Slide 11: Exploration Update
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – E X P L O R AT I O N U P D AT E 11 1H25 Highlights: • Exploration expense of US$76.7 million (a similar amount to Mine that invested in 1H24) Operations • Drilled a total of 359,268 metres, 82% of which was focused Development on brownfield target. Bro
Slide 12: Solid Project Pipeline for the Future
MINING FORUM AMERICAS 2025 – PROJECTS 12 SOLID PROJECT PIPELINE FOR THE FUTURE ORISYVO (GOLD) GUANAJUATO SUR (SILVER / GOLD) RODEO (GOLD) TAJITOS (GOLD) Prefeasibility A level studies were During 1H25 exploration drilling amounted Drilling programme started in 1H25. Metallurgical testwork update com
Slide 13: HSECR: Sustainability Is Core to Our Purpose
MINING FORUM AMERICAS 2025 – HSECR 13 S U S TA I N A B I L I T Y I S C O R E T O O U R P U R P O S E : “ T O C O N T R I B U T E T O T H E W E L L B E I N G O F P E O P L E T H R O U G H T H E S U S TA I N A B L E M I N I N G O F S I LV E R A N D G O L D ” HEALTH ENVIRONMENT COMMUNITY & SAFETY RELAT
Slide 14: Delivering Strong Shareholder Returns
MINING FORUM AMERICAS 2025 – SHAREHOLDER RETURNS 14 DELIVERING STRONG SHAREHOLDER RETURNS SHARE PRICE DIVIDENDS GBP US$mm 800 4,500 25 700 4,000 3,500 600 20 3,000 500 2,500 15 400 2,000 10 300 1,500 200 1,000 5 100 500 - - - 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 15: Outlook
y “ OUTLOOK FRESNILLO.
Slide 16: Expected Attributable Production Profile
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – E X P E C T E D AT T R I B U TA B L E P R O D U C T I O N 16 PROFILE Production guidance range +/- 5% Silver* Gold Million Oz Thousand Oz 60 700 50 600 500 40 400 30 300 20 200 10 100 0 0 Actual 2025 2026 2027 Actual 2025 2026 2027 2024 2024 Lead Zinc
Slide 17: Capex Spend Expectations
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – C A P E X S P E N D E X P E C TAT I O N S 17 Million Usd 600 4 485 505 480 500 • Total capex for 2025 for is expected to be 450 US$450m 400 370 300 • Potential project construction expenditures 200 not included 100 0 2023 2024 2025 2026 2027
Slide 18: Consolidated Outlook
M I N I N G F O R U M A M E R I C A S 2 0 2 5 – C O N S O L I D AT E D O U T L O O K 18 SAFETY IS A KEY OUTSTANDING H1 FOCUS ON COSTS AND STRONG RETURNS ADVANCING PRIORITY AS WE RE- PERFORMANCE, PRODUCTIVITY FOR OUR EXPLORATION AND DOUBLE EFFORTS DEMONSTRATING CONTINUES TO SHAREHOLDERS CONTINUED ACR