Nexa Resources S.a. · NYSE:NEXA
Nexa Resources — Q1 2025 Earnings Presentation
16 slides from Nexa Resources's earnings presentation, Apr 30, 2025
Slide 1: 1Q25 Results
Mining that changes with the world 1Q25 Results April 30, 2025 Cajamarquilla Smelter, Lima, Peru
Slide 2: Disclaimer
Disclaimer Important information concerning this presentation This presentation, prepared by Nexa Resources S.A. (herein referred to as “Nexa Resources”, “Nexa”, or the “Company”), is solely for informational purposes. Disclosure of this presentation, its contents, extracts or abstracts to third par
Slide 3: 1Q25 Highlights
1Q25 | Highlights 1. OPERATIONAL PERFORMANCE 2. FINANCIAL RESULTS ➢ Mining: lower metal production (lower grades + operational ➢ Net revenues of US$627 million: up 8% y-o-y despite challenges - heavy rainfalls in Pasco and Aripuanã). lower smelting sales volumes. ➢ Zn Metal + Oxide sales: lower q-o-
Slide 4: Operating Performance | Mining Segment
Operating Performance | Mining Segment Zinc Production Cash cost by Mine¹ (000 ton) (US$/lb of Zinc sold) Upper Range Lower Range -8% 1Q24 1Q25 82 0.56 74 0.53 67 0.46 0.26 0.23 0.11 0.01 (0.04) 2025 (0.10) Guidance (0.40) (0.41) (0.53) 1Q24 4Q24 1Q25 (0.77) Cerro Lindo El Porvenir Atacocha Vazante
Slide 5: Operating Performance | Smelting Segment
Operating Performance | Smelting Segment Total Sales (Metal + Oxide) Cash cost by unit¹ (000 ton) (US$/lb of Zinc sold) Upper Range 1Q24 1Q25 -14% Lower Range 152 139 130 1.39 1.39 1.33 1.12 1.17 1.02 1.04 0.98 0.92 1.16 1Q24 4Q24 1Q25 Juiz de Fora Três Marias Cajamarquilla Consolidated 2025 Guidanc
Slide 6: Aripuanã | an ongoing Operation
Aripuanã | an ongoing Operation 1Q25 PERFORMANCE EXPLORATION STRATEGY Production impacted by heavier-than-usual rainfall (~30% 2024 results confirmed the asset’s strong geological potential: higher vs. previous years): further limiting tailings filter capacity increasing its Life of Mine to 15 yrs1
Slide 7: Cerro Pasco Integration | Status
Cerro Pasco Integration | Status Advancing Construction Works for Phase I and Technical Studies for Phase II. Main work fronts: In execution TSF (Phase I) • EP TSF raising up to 4070 level: execution is concluded Increase storage • Tailings Pumping System EP → ATA: on track. Construction scheduled t
Slide 8: Cerro Pasco Integration | Geological Potential
Cerro Pasco Integration | Geological Potential Enabling access to a relevant volume of mineral resources from the underground Atacocha A Unlock the underground geological potential of Atacocha Atacocha (A) Atacocha: strong UG geological potential (not operating since 2020) ▪ UG Mineral Resources est
Slide 9: 1Q25 | Financial Results
1Q25 | Financial Results Consolidated Results Net Revenues1 (US$ million) 741 1Q25 Net Revenues: 580 627 • +8% (vs. 1Q24): higher metal prices (except for Pb), partially offset by lower smelting sales volume. • -15% (vs. 4Q24): lower smelting sales volume and lower Zn and Pb prices. 1Q24 4Q24 1Q25 A
Slide 10: 1Q25 | Investments
1Q25 | Investments Capital expenditures (US$ million) 347 3 • US$50 million invested in 1Q25: mostly sustaining, including mine development and maintenance. Expansion Projects 316 • Investments related to Phase I of the Cerro Pasco Sustaining¹ 50 HSE Integration Project on track 18 48 Others² 11 3 •
Slide 11: 1Q25 | Free Cash Flow
1Q25 | Free Cash Flow (US$ million) 158 125 33 (76) (51) 4 0 4 (265) (226) Adjusted Other non- Cash provided Interest paid Capex (2) Loans / Dividends FX (3) Working FCF EBITDA operational (1) by operating and Taxes Investments Capital (4) activities before Working Capital Negative FCF in 1Q25: soli
Slide 12: Liquidity and Indebtedness
Liquidity and Indebtedness Debt profile (as of Mar 31, 2025) Average debt maturity: 5.3 years @6.28% avg. cost Net Debt(3)/LTM Adj. EBITDA Debt amortization schedule - (US$ million) 1.7x 2.1x 721 Total amount tendered: US$394MM 679 (1) RCF 320 1,488 469 1,217 323 (2) 289 Total 105 401 128 Cash 106 5
Slide 13: Zinc Market
Zinc Market LME price evolution1 US$/ton Short-term: ▪ Tight concentrates supply keep pressing TCs, affecting smelter margins globally (benchmark TCs reached the 2,829 lowest levels in decades). 2,607 ▪ Refined players already scaling back production, reinforcing the tightening supply environment. J
Slide 14: Copper and Silver Markets
Copper and Silver Markets Short-term: LME price evolution1 US$/ton • U.S. Section 301 investigation triggered accelerated buying, increasing regional premiums. • Global copper demand is growing, driven by: i. power capacity expansion (notably in China) ii. energy transition investments. Tight 9,673
Slide 15: Nexa | 2025 Focus
Nexa | 2025 Focus Growth: Cerro Pasco Integration Project’s on track. Robust value-creation option >> enabling operations for 15+ yr, significantly increasing asset’s NAV Aripuanã: highly competitive, long-life polymetallic asset >> further increase production (tailings filters performance) and cost
Slide 16: Thank you
thank you thank you IR Contact: ir@nexaresources.com https://ir.nexaresources.com