The following amendment has been made to the Capital Markets event & 2024 Guidance announcement released on 22 November 2023 at 07:00, RNS Number: 2000U. The correction relates to the attributable production target for 2024 and capital expenditure budget for 2024 both on the second page. All other details remain unchanged.

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22 November 2023

Hochschild Mining PLC

Capital Markets event & 2024 Guidance - Correction

Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the Company") is to hold a Capital Markets event presentation for analysts and investors at 10:30am today London time. A copy of the presentation will be published on the Hochschild website at http://www.hochschildmining.com/en/home at 10:00am.

Key highlights of the presentation:

§ Hochschild focused on core business and set to increase production and lower costs from 2024

§ Production set to rise to 340,000-375,000 gold equivalent ounces in 2025

§ AISC set to reduce to $1,300-$1,400/oz per gold equivalent ounce in 2025

§ Flagship Inmaculada operation de-risked after MEIA approval

o  Minimum 200,000oz per annum base going forward with costs expected to fall in 2025

§ New low-cost Mara Rosa project set to commission in Q1 2024, on time and on budget

o  2024 production forecast of 83,000-93,000 ounces of gold at AISC of $1,090-$1,120 per ounce

§ New Royropata deposit to deliver additional 100,000oz+ per annum from 2027

§ Disciplined capital allocation strategy

§ Overall 2024 production target:

o  343,000-360,0000 gold equivalent ounces

§ 2024 All-in sustaining costs target:

o  $1,510-$1,550 per gold equivalent ounce including $45 million of 2022/2023 deferred capital expenditure due to MEIA delays

Eduardo Landin, Chief Executive Officer said:

"Today Hochschild's management team and I are pleased to present a newly focused precious metal business which, based around our core assets, is forecast to deliver both production growth and cost reductions over the next few years. With our Inmaculada mine providing a solid and sustainable base for the long-term, we are excited by the prospect of first production in the next few months from our new Mara Rosa mine in Brazil and also by the potential at the new Royropata deposit in southern Peru. I believe that, when set alongside a disciplined approach to capital allocation and our ESG focus, the clear strategy set out today will deliver strong shareholder returns in the near future."

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For a live webcast of the presentation please click on the link below or go to our website at www.hochschildmining.com

https://stream.brrmedia.co.uk/broadcast/6514452201d979c8a2ec7ef1

Conference call dial in details:

UK Toll-Free Number: 0808 109 0700

International Dial in: +44 (0)330 551 0200

US Toll-Free Number: 866-580-3963

Canada Toll-Free Number: 866-378-3566

Pin: Hochschild CMD

The On Demand version of the webcast will be available shortly after the end of the presentation and is accessible using the same webcast link.

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2024 Guidance

The overall attributable production target for the year is 343,000-360,000 gold equivalent ounces.[1]

2024 production split

The all-in sustaining cost from operations in 2024 is expected to be between $1,510 and $1,550 per gold equivalent ounce.

2024 AISC split

The capital expenditure budget for 2024 is approximately $171-178 million allocated to sustaining and development expenditure. The remaining Mara Rosa project capital expenditure budget is set at $10 million. The budget allocated to the brownfield exploration programme for 2024 is $33 million.

2024 Capital expenditure split

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Enquiries:

Hochschild Mining PLC

Charles Gordon                                                                                                                                                                             +44 (0)20 3709 3264

Head of Investor Relations

Hudson Sandler

Charlie Jack                                                                                                                                                                                   +44 (0)207 796 4133

Public Relations

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About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' of experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also owns the Mara Rosa Advanced Project in Brazil as well as numerous long-term projects throughout the Americas.

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Forward looking statements

This announcement may contain forward looking statements. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining PLC may, for various reasons, be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, the Board of Hochschild Mining PLC does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.

This announcement contains information which prior to its release could be considered inside information.

LEI: 549300JK10TVQ3CCJQ89

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