Slide 1: Earnings Conference Call 1Q26
Earnings Conference Call 1Q26 May 7, 2026
Slide 2: Disclaimer
Disclaimer These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management’s expectations with respect to, but not limited to, the business and operations of the Company and mining producti
Slide 3: Highlights 1Q26
Highlights 1Q26 Key Operational Results Key Financial Results Zinc Production (mining) Net Revenues (US$) Adjusted EBITDA1 (US$) 79kt 888 mm 283 mm +18% -13% +42% -2% +126% -6% vs. 1Q25 vs. 4Q25 vs. 1Q25 vs. 4Q25 vs. 1Q25 vs. 4Q25 Total Zinc Sales (smelting) Net Leverage2 Free Cash Flow (US$) 147kt
Slide 4: Operating Performance | Mining Segment
Operating Performance | Mining Segment Zinc Production (kt) Consolidated Costs Cerro Lindo El Porvenir Atacocha Vazante Aripuanã Cash cost net of by-products¹ 0.08 +18% US$(0.76)/lb vs. 4Q25 vs. 1Q25 -13% (0.11) 91 1Q26 Below guidance US$(0.76)/lb 1Q26 79 2026 Guidance Upper Range 67 Lower Range Cos
Slide 5: Aripuanã 1Q26 Performance
Aripuanã 1Q26 Performance A long-life, Tier-One Asset Delivering Steady Improvements 1 New quarterly record production, Treated ore: 406kt -5% vs. 4Q25 reflecting continued operational Zn production: 13.0kt +4% stability Highlights: 4th filter installation concluded 2 Commissioning started 4th taili
Slide 6: 1Q26 | Cerro Pasco Integration
1Q26 | Cerro Pasco Integration Phase I Execution making steady progress. Phase II preparatory studies advancing Phase I 1Q26 2Q26 3Q26 4Q26 וEP TSF raising: 4070 level The slope stabilization Completion of civil Completion of the Initiation of the has been completed. works and construction of the
Slide 7: Operating Performance | Smelting Segment
Operating Performance | Smelting Segment Total Sales | Zn Metal + Oxide (kt) Consolidated Costs Cajamarquilla Três Marias Juiz de Fora Cash cost net of by-products¹ 1.34 +4% US$1.40/lb 1Q26 142 147 US$1.40/lb 130 vs. 4Q25 vs. 1Q25 1.15 1Q26 above upper end of guidance 2026 Guidance Upper Range 1Q25
Slide 8: 1Q26 | Consolidated Financial Results
1Q26 | Consolidated Financial Results Net Revenues1 (US$ million) LME Zinc Prices (US$/t) 3,241 1Q26 Net Revenues • QoQ: lower mining sales volume, 3,165 2,838 partially offset by higher -2% +42% smelting sales. -2% (vs. 4Q25) (vs. 1Q25) • YoY: higher smelting sales, 903 888 increased by-products 62
Slide 9: 1Q26 | Investments
1Q26 | Investments Capex (US$ million) 381 Expansion Projects וUS$72 million invested Sustaining 5 Mine Development in 1Q26 ו2026 guidance 129 Tailings Storage Facilities HS&E Others¹ unchanged 122 72 89 16 27 33 8 21 2026 Guidance 1Q26 Mineral Exploration and Project Evaluation (US$ million)
Slide 10: 1Q26 | Free Cash Flow
1Q26 | Free Cash Flow (US$ million) Avg prices: Zn (US$/t): 3,241 / Cu (US$/t): 12,844 / Pb (US$/t): 1,931 Ag (US$/oz): 84.3 / Au (US$/oz): 4,873 308 283 25 (283) Debt repayment/Loans and Dividends payment (72) (81) 6 21 (25) (122) (126) Adjusted Other non- Operating Working capital Capex Interest p
Slide 11: 1Q26 | Liquidity, Indebtedness and Credit Rating
1Q26 | Liquidity, Indebtedness and Credit Rating Debt profile (as of Mar 31, 2026). Long-term avg. debt maturity: 7.2 years @6.27% avg. cost Debt amortization schedule (US$ million) 716 Gross debt: US$1,768 Bonds Outstanding 608 RCF (1) 320 530 Rating Rating Outlook Agencies Investment Grade 600 BBB
Slide 12: Zinc and Copper Markets
Zinc and Copper Markets Zinc LME price evolution1 (US$/t) Zinc: Concentrate tightness and low LME inventories continue to support prices, with Zn LME up 4% in the period to US$3,185/t וSmelter margins remain compressed: spot domestic TCs in China at negative US$17/t and imported at US$17/t CIF. B
Slide 13: Silver and Gold Markets
Silver and Gold Markets Silver LBMA price evolution1 (US$/oz) Silver: set new multi-year highs at US$121.6/oz before retracing וUnderlying fundamentals remain supportive; with a sixth consecutive annual supply deficit projected for 2026. +147% וStructural demand supported by solar PV, electric
Slide 14: ESG 1Q26 Highlights & Strategic Governance
ESG 1Q26 Highlights & Strategic Governance וExpansion of women’s empowerment programs in Peru, combining skills training and income generation. וCommunity investments advancing entrepreneurship, employment access and local Sustainability & infrastructure in Brazil and Peru. Community וDeliv
Slide 15: Strategic Catalysts & Our Focus and Priorities
1 Aripuanã וFourth tailings filter on track: unlock full production to strengthen cash generation Strategic וLoM1 = 15y (reserves)²; 25y+ (resources)³ Catalysts & 2 Cerro Pasco Integration Project וWell-known, high potential mineral district Our Focus and וAttractive return: >15y4 LoM &
Slide 16: Thank you!
Thank you! IR Contact: ir@nexaresources.com https://ir.nexaresources.com