Slide 1: Nexa Reports Third Quarter 2025 Results
US$ million (except per share amounts) 3Q25 2Q25 3Q24 9M25 9M24 Nexa Reports Third Quarter 2025 Results including Net Income of US$100 million and Adjusted EBITDA of US$186 million Luxembourg, October 30, 2025 – Nexa Resources S.A. (“Nexa Resources”, “Nexa”, or the “Company”) announces today its res
Slide 2: Adjusted EBITDA change versus 2Q25
Compared to 2Q25, Adjusted EBITDA increased by 26%. This increase was mainly attributed to (i) higher by-products contribution of US$47 million, reflecting stronger prices across all metals, increased sulfuric acid sales, and higher silver concentrate sales at Cajamarquilla; (ii) higher smelting sal
Slide 3: Net Income reconciliation to Adjusted EBITDA
US$ million 3Q25 2Q25 3Q24 9M25 9M24 For 9M25, Adjusted EBITDA totaled US$472 million compared to US$517 million for the same period a year ago. This decrease was primarily driven by lower metal sales volume, lower zinc TCs on third-party concentrate purchases and higher operational costs at our Bra
Slide 4: Mining segment Adjusted EBITDA
Adjusted EBITDA for the mining segment in 3Q25 totaled US$164 million, up 28% from US$128 million in 3Q24. This increase was primarily attributed to (i) higher by-products contribution of US$38 million, mainly reflecting stronger silver and gold prices; (ii) a positive net price effect of US$20 mill
Slide 5: Mining Adjusted EBITDA compared to 2Q25
Compared to 2Q25, Adjusted EBITDA increased by 22%. This performance was primarily driven by (i) higher by-products contribution of US$23 million, mainly reflecting stronger silver and gold prices; (ii) a positive net price impact of US$24 million, resulting from higher metal prices; and (iii) lower
Slide 6: Consolidated cash cost 3Q25 vs. 9M25 vs. 9M24
Consolidated cash cost 3Q25 2Q25 3Q24 3Q25 vs. 3Q24 9M25 9M24 9M25 vs. 9M24 Run-of-mine cost, Cash cost and AISC [4] Run-of-mine mining cost US$/t 50.5 49.9 45.6 10.9% 49.5 46.0 7.6% Cash cost net of by-products US$/t (1,083) (240) (31) 3,381.0% (402) (297.8%) AISC US$/t (98.7%) 1,044 (38.9%) Cash c
Slide 7: Sources of Zinc Concentrate to Nexa Smelters
Sources of Zinc Concentrate to Nexa Smelters (kt) – 3Q25 In 3Q25, Nexa sourced 49% of its zinc concentrate from its own mines, with the remaining 51% supplied by third parties and secondary feed. The smelters use zinc concentrate as feedstock, primarily from our mines, applying a benchmark treatment
Slide 8: Benchmark TC and smelting segment Adjusted EBITDA
The 2025 benchmark TC, reportedly agreed between Korea Zinc and Teck in April 2025, was set at US$80/t of concentrate, down 52% from 2024 (US$165/t). The reference benchmark TCs for 2025, 2024 and 2023 were US$80/t, US$165/t, and US$274/t of concentrate, respectively. To mitigate market volatility,
Slide 9: Smelting Adjusted EBITDA compared to 2Q25
Compared to 2Q25, Adjusted EBITDA decreased by 11%, mainly due to (i) a negative net price effect of US$21 million, reflecting higher zinc prices and mark-to-market impacts on raw material purchases; (ii) unfavorable foreign exchange variations totaling US$2 million; (iii) lower TCs of US$2 million;
Slide 10: Smelting conversion cost, cash cost and AISC
Consolidated 3Q25 2Q25 3Q24 3Q25 vs. 3Q24 9M25 9M24 9M25 vs. 9M24 Conversion cost, Cash cost and AISC [5] Smelting conversion cost US$/t 10.2% 11.4% Cash cost net of by-products US$/t 2,902 2,703 2,555 13.6% 2,735 2,453 11.5% AISC US$/t 3,137 2,912 2,751 14.1% 2,947 2,644 11.5% Smelting conversion c
Slide 11: Cash and net debt at September 30, 2025
US$ million Sep 30, 2025 Jun 30, 2025 As of September 30, 2025, cash and cash equivalents and financial investments (“total cash”) amounted to US$470 million, up 13% from June 30, 2025. This increase was mainly driven by stronger operating cash flow and US$19 million working capital gain during the