Nexa Resources S.a. · NYSE:NEXA
Nexa Resources — Q4 2024 Earnings Presentation
17 slides from Nexa Resources's earnings presentation, Feb 21, 2025
Slide 1: 4Q24 and FY2024 Results
Mining that changes with the world 4Q24 and FY2024 Results February 21, 2025 Três Marias Smelter, Minas Gerais - Brazil
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: 2024 Highlights
2024 | Highlights 1. CONSISTENT PERFORMANCE 2. SOLID RESULTS ➢ Mining production (q-o-q): Zinc (-11%), Copper (-2%): ➢ Net revenues: US$741 million in 4Q24 (+18% y-o-y) lower grades in CL. Lead (+2%), Silver (+1%): higher grades and US$2,766 million in 2024 (+8% vs. 2023) ➢ FY24 consolidated Zn, Pb
Slide 4: Operating Performance | Mining Segment
Operating Performance | Mining Segment Zinc Production Cash cost by Mine¹ Upper Range (000 ton) (US$/lb of Zinc sold) Lower Range -2% 2024 333 327 4Q23 4Q24 -11% 0.55 90 0.46 0.44 0.37 83 74 0.17 0.23 0.06 0.07 0.03 (0.04) 0.00 2024 2024 Guidance (0.53) (Updated) 4Q23 3Q24 4Q24 2023 2024 (0.77) Cerr
Slide 5: Operating Performance | Smelting Segment
Operating Performance | Smelting Segment Total Sales (Metal + Oxide) (000 ton) Cash cost by unit 0% (US$/lb of Zinc sold) Upper Range 590 591 Lower Range 4Q23 4Q24 2024 -1% 143 153 152 1.27 1.33 1.26 1.12 1.21 1.00 1.00 1.15 1.18 0.94 1.07 4Q23 3Q24 4Q24 2023 2024 Juiz de Fora Três Marias Cajamarqui
Slide 6: Aripuanã | an ongoing Operation
Aripuanã | an ongoing Operation 4Q24 PRODUCTION AND RESULTS EXPLORATION STRATEGY Production (q-o-q): Higher Zn, Pb and Ag; Cu lower Focus on new mineralized zones. YTD results confirm the asset’s strong geological potential Positive Adj. EBITDA in 4Q24 and FY24 2025 Outlook 4Q24 PERFORMANCE Operatio
Slide 7: Cerro Pasco Integration | Status
Cerro Pasco Integration | Status Advancing Construction Works for Phase I while Finalizing Technical Studies for Phase II. Main work fronts: In execution TSF (Phase I) • EP TSF raising up to 4070 level: execution is concluded Approved in Increase storage • Tailings Pumping System EP → ATA: detail en
Slide 8: Cerro Pasco Integration | Geological Potential
Cerro Pasco Integration | Geological Potential The project will enable access to a relevant volume of mineral resources from the underground Atacocha A Unlock the underground geological potential of Atacocha Atacocha (A) Atacocha: strong underground geological potential (not operating since 2020). ▪
Slide 9: 2024 Exploration Program | Achievements
2024 Exploration program | Achievements Indications of positive results in brownfield and greenfield Life of Mine (yrs) Cerro Lindo: Meters Drilled1: 69,125m 7 years Exploration program remained focused on expanding known ore bodies southeast of Cerro Lindo, with drilling targeting the extensions of
Slide 10: 2024 Financial Results
2024 | Financial Results Consolidated Results Net Revenues1 +8% 4Q24 Net Revenues: (US$ million) 2,766 2,573 • +18% (vs. 4Q23): higher LME prices (except for Pb) and higher +18% smelting sales volume, partially offset by a lower net premium. +4% • +4% (vs. 3Q24): higher LME prices (Zn, Ag and Au), p
Slide 11: 2024 Investments
2024 | Investments Capital expenditures (US$ million) 300 3 277 • 2024 investments: US$268 million allocated to sustaining activities, including mining development and Tailings 261 Expansion Projects Storage Facilities (“TSF”) 268 Sustaining¹ HSE • FY24 CapEx: well below the updated guidance due to
Slide 12: 2024 Free Cash Flow
2024 | Free Cash Flow (US$ million) 714 (200) 514 (175) (265) 163 (16) (11) 18 98 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 Positive FCF in 202
Slide 13: Liquidity and Indebtedness
Liquidity and Indebtedness Debt profile (as of Dec 31, 2024) Net Debt(3)/LTM Adj. EBITDA Average debt maturity: 5.6 years @6.44% avg. cost 960 Debt amortization schedule - (US$ million) 2.2x 1.7x (1) RCF 320 673 1,409 1,217 468 (2) Total 324 640 Cash 106 118 51 22 Cash 2025 2026 2027 2028 2029 2030
Slide 14: Zinc Market
Zinc Market LME price evolution1 Zn price: positive price support in 4Q24, driven by fundamentals. US$/ton The strengthening of the USD due to expectations around the U.S. presidential inauguration, added volatility toward the end of 2024 2,974 ▪ 2024: (A) reduction (-2%) of global concentrate suppl
Slide 15: Copper and Silver Markets
Copper and Silver Markets LME price evolution1 Short-term: global refined copper demand is expected to US$/ton grow, driven by increased power capacity (mainly in China) and energy transition investments + tight concentrate market >> Prices are expected to remain supported Mid-to-long term: despite
Slide 16: 2024 Overview | 2025 Focus
2024 overview | 2025 Focus Growth: The first step of the Cerro Pasco Integration Project was approved. Tailings pumping system aimed at increasing storage capacity >> enabling operations for +10 yrs Aripuanã: further increase in production and improved tailings filters performance. Focus on enhancin
Slide 17: Thank you
thank you thank you IR Contact: ir@nexaresources.com https://ir.nexaresources.com