2022 Financial performance

§ Revenue of $735.6 million (2021: $811.4 million)[1]

§ Adjusted EBITDA of $249.6 million (2021: $382.8 million)[2]

§ Profit before income tax (pre-exceptional) of $24.3 million (2021: $148.7 million)

§ Profit before income tax (post-exceptional) of $25.8 million (2021: $137.3 million)

§ Basic earnings per share (pre-exceptional) of $0.01 (2021: $0.14)

§ Basic earnings per share (post-exceptional) of $0.01 (2021: $0.15)

§ Cash and cash equivalent balance of $143.8 million as at 31 December 2022 (2021: $386.8 million)

§ Net debt of $175.1 million as at 31 December 2022 (2021: net cash of $86.3 million)

2022 Operational resilience[3]

§ Peruvian government decision on Inmaculada Modified Environmental Impact Assessment expected during Q2 2023

§ All-in sustaining costs (AISC) from operations of $1,364 per gold equivalent ounce (2021: $1,153) or $18.9 per silver equivalent ounce (2021: $16.0) in line with full year cost guidance of $1,330-$1,370 per gold equivalent ounce or $18.5-19.0 per silver equivalent ounce[4]

§ Full year attributable production of 358,826 gold equivalent ounces (25.8 million silver equivalent ounces)

§ Solid operational performance despite moderate impact in Q4 from Peru social disruptio

2022 Exploration & Project Highlights

§ 2022 Attributable Reserve & Resource additions:

o Reserves up 35%

o Resources up 18%

§ Inferred Mineral Resource of 51.2 million silver equivalent ounces announced at Royropata Zone, Pallancata

o Average width of 5 metres at a combined Ag Eq grade of 848g/t

§ Mara Rosa project in Brazil advancing on schedule and on budget - total project progress at over 70% with first production anticipated in H1 2024

o 27,600oz of gold hedged from March to December 2024 at a price of $2,100 per ounce

§ Option over Snip project in Canada recently terminated

2022 ESG KPIs

§ Lost Time Injury Frequency Rate of 1.37 (2021: 1.26)[5]

§ Accident Severity Index of 93 (2021: 676)[6]

§ Water consumption of 171lt/person/day (2021: 193lt/person/day)

§ Domestic waste generation of 1.05 kg/person/day (2021: 1.00kg/person/day)

§ ECO score of 5.27 out of 6 (2021: 5.29)[7]

2023 Outlook

§ Production target:

o 301,000-314,0000 gold equivalent ounces (25.0-26.0 million silver equivalent ounces) using 83x gold silver ratio

§ All-in sustaining costs target:

o $1,370-$1,450 per gold equivalent ounce ($16.5-$17.5 per silver equivalent ounce) using 83x gold silver ratio

§ Total sustaining and development capital expenditure expected to be approximately $125-135 million

§ Mara Rosa project capital expenditure expected to be approximately $100-110 million

§ 29,250 ounces of gold hedged for the remainder of 2023 at a price of $2,047 per ounce

$000 unless stated
Year ended 31 Dec 2022 Year ended 31 Dec 2021 % change

Attributable silver production (koz) 11,003 12,174 (10)

Attributable gold production (koz) 206 221 (7)

Revenue 735,643 811,387 (9)

Adjusted EBITDA 249,605 382,837 (35)

Profit from continuing operations (pre-exceptional) 6,745 67,450 (90)

Profit from continuing operations (post-exceptional) 4,832 71,106 (93)

Basic earnings per share (pre-exceptional) $0.01 0.14 (93)

Basic earnings per share (post-exceptional) $ 0.01 0.15 (93)

________________________________________________________________________________________



A presentation will be held for analysts and investors at 9.30am (UK time) on Thursday 20 April 2023 at the offices of Hudson Sandler,

25 Charterhouse Square, London, EC1M 6AE

The presentation and a link to the live audio webcast of the presentation can be found at the Hochschild website:

www.hochschildmining.com

or:

https://stream.brrmedia.co.uk/broadcast/63c585b88b28b235f03655a4