Fresnillo plc

21 Upper Brook Street

London W1K 7PY

United Kingdom

www.fresnilloplc.com

17 March 2022

Ethisphere announces Fresnillo plc as one of the 2022 world's most ethical companies for the third time

Recognition honors companies demonstrating exceptional leadership and a commitment to

business integrity through best-in-class ethics, compliance, and governance practices

Fresnillo plc, the world's largest primary silver producer and Mexico's largest gold producer, has been recognised by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World's Most Ethical Companies.

Fresnillo plc has been recognised since 2020 and is one of only three honorees in the Mining & Metals industry. In 2022, 136 honorees were recognised spanning 22 countries and 45 industries.

"Guided by our purpose, we continued to focus on the wellbeing of people while, at the same time, achieving a respectable operational performance and continuing to position the Company to meet the challenges of future years; operating with ethics and integrity is at the core of our purpose. Thanks to the hard work and integrity commitment of our people we are proud to be named again as one of the 2022 World's Most Ethical Companies" said Fresnillo plc's Chief Executive Officer, Octavio Alvídrez.

"Today, business leaders face their greatest mandate yet to be ethical, accountable, and trusted to drive positive change," said Ethisphere CEO, Timothy Erblich. "We continue to be inspired by the World's Most Ethical Companies honorees and their dedication to integrity, sustainability, governance, and community. Congratulations to Fresnillo plc for earning the World's Most Ethical Companies designation."

Ethics & Performance 

Ethisphere's 2022 Ethics Index, the collection of publicly traded companies recognised as recipients of this year's World's Most Ethical Companies designation, outperformed a comparable index of large cap companies by 24.6 percentage points over the past five calendar years.

The outperformance, which Ethisphere refers to as the "Ethics Premium," has remained consistent since Ethisphere began tracking the performance of honoree companies.

Methodology & Scoring

Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

Honorees 

The full list of the 2022 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees. 

-Ends-

For further information, please visit our website www.fresnilloplc.com or contact:

ABOUT FRESNILLO PLC

Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega (including Las Casas Rosario & Cluster Cebollitas), Herradura, Soledad-Dipolos¹, Noche Buena and San Julián (Veins and Disseminated Ore Body), two development projects - the Pyrites Plant at Fresnillo and Juanicipio, both of which have been completed but approvals to operate are pending, and three advanced exploration projects - Orisyvo, Rodeo and Guanajuato, as well as a number of other long term exploration prospects.

Fresnillo plc has mining concessions and exploration projects in Mexico, Peru and Chile. Fresnillo plc has a strong and long tradition of exploring, mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for silver. Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company and Mexico's largest gold producer.

¹ Operations at Soledad-Dipolos are currently suspended.

ABOUT THE ETHISPHERE INSTITUTE

Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.

FORWARD LOOKING STATEMENTS

Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.

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