1st Nexa Investors Site Visit

Cerro Lindo - Perú

October 2018
 Disclaimer
Important Information Concerning this Presentation

This presentation does not provide full disclosure of all material facts relating to VM Holding S.A. (“VMH”), the securities of VMH or a potential offering of such securities and is not subject to
liability for misrepresentations under applicable securities legislation.

The contents hereof should not be construed as investment, legal, tax or other advice and you should consult your own advisers as to legal, business, tax and other related matters concerning an
investment in VMH. VMH is not acting on your behalf and does not regard you as a customer or a client. It will not be responsible to you for providing protections afforded to clients or for advising
you on the relevant transaction. There is no obligation to update the information included in this presentation.

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jurisdiction. Such an offer or solicitation can only be made by way of an effective registration statement or prospectus in accordance with the securities laws.

No representation or warranty is given in respect of the information contained herein, and neither the delivery of this presentation nor any investment in VMH securities will under any
circumstances create any implication that VMH has updated the information contained herein. Information throughout the presentation provided by sources other than VMH has not been
independently verified. Differences between past performance and actual results may be material and adverse.

This presentation includes unaudited non-IFRS financial measures, including EBITDA, Adjusted EBITDA, Reconciled EBITDA and EBITDA margin. We present non-IFRS measures when we believe
that the additional information is useful and meaningful to investors. Non-IFRS financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar
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measures reported in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board.

This presentation includes certain statements, estimates and projections with respect to the anticipated future performance of VMH. Such statements, estimates and projections reflect various
assumptions made by VMH concerning anticipated results, which are subject to business, economic and competitive uncertainties and contingencies, many of which are beyond the control of VMH
and which may or may not prove to be correct. For more information regarding forward-looking statements, please see the disclaimer on the following page.

The information on mineral resources and mineral reserves included in this presentation is presented in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects
issued by the Canadian Securities Administrators. Such information has been prepared under the general supervision of our chief geologist or mining engineer in consultation with recognized
mining consultants in Brazil and Peru, acting as qualified persons. This information is not, however, typically subject to review or audit by independent or external experts.

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contained in this presentation and the fact that VMH is considering a potential initial public offering in confidence.

2
 Disclaimer
Forward-Looking Statements
This presentation contains statements that constitute estimates and forward-looking statements, and include statements regarding our intent, belief or current expectations, and those of our officers
and employees, with respect to, among other things: (i) our future financial or operating performance; (ii) our growth strategy; (iii) future trends that may affect our business and results of
operations; (iv) the impact of competition and applicable laws and regulations on our results; (v) planned capital investments; (vi) future of zinc or other metal prices; (vii) estimation of mineral
reserves and resources; (viii) mine life; and (ix) our financial liquidity. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results and
developments may be substantially different from the expectations described in the forward-looking statements for a number of foreseeable or unforeseeable reasons, many of which are not under
our control, among them the activities of our competition, the future global economic situation, weather conditions, market conditions, exchange rates, and operational and financial risks. The
unexpected occurrence of one or more of the above-mentioned events or any other event may significantly change the results of our operations on which we have based our estimates and forward-
looking statements.

The words “believe,” “will,” “may,” “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and similar words are intended to
identify estimates and forward-looking statements. Estimates and forward-looking statements refer only to the date when they were made, and we, the selling shareholder and the underwriters do
not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-
looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the
forward-looking statements.

Our estimates and forward-looking statements may be influenced by the following factors, including, among others: the cyclical and volatile prices of the metals we produce; the changes in the
supply and demand for the metals we produce; the risks and uncertainties relating to Peruvian, Brazilian and international economic and political conditions; global and local changes in economic
market conditions; the competition in the mining industry; changes in Peruvian, Brazilian and international governmental and regulatory policies that apply to our operations; the possible material
differences between our estimates of mineral reserves and the mineral quantities we actually recover; the timing and amount of estimated future production and cost of production; cost and timing
of the development of new deposits; cost and timing of future exploration and/or exploitation; the occurrence of extreme weather conditions, natural disasters or unfavorable seismic conditions,
including the effect such conditions may have on our ability to access our mining and smelting sites and transport our products; the availability and price of other commodities and supplies, including
fuel, explosives and electricity; the availability of materials, insurance coverage, equipment, required permits or approvals and financing; lower than expected grades in the metals we produce;
substantial capital expenditures requirements and risks associated with such capital expenditures; water and geological problems; the failure of equipment or processes to operate in accordance with
specifications; failure to obtain financial assurance to meet closure and remediation obligations; labor relations, litigation, tax, environmental and health and safety risks; mining industry operational
risk, such as operator errors, mechanical failures and other accidents; availability of capable labor near our mines; political and economic risk associated with our operations; concessions may be
terminated or not renewed by governmental authorities; problems with the urban areas and rural communities which surround our operations and procedures required for their prior consultation;
currency exchange rate fluctuations; increases in operating costs; requirements for additional capital; delays in the startups of our main projects; creation of new taxes and/or royalties; changes in
labor laws; changes in the applicable laws of the mining sector; our ability to accurately calculate the cost of our projects; negotiation with customers regarding the commercial terms of our contracts
with them; title disputes or claims; logistics issues; ability to retain key managers and employees.

Without limiting the generality of the foregoing, forward-looking statements in this presentation include statements regarding expected commencement dates of mining or metal production
operations, projected quantities of future metal production, anticipated production rates, operating efficiencies, costs and expenditures, including taxes and royalties, as well as projected demand or
supply for our products. Results of operations are directly affected by metals prices, which can be volatile. These statements involve risks and uncertainties that could cause actual results to differ
materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. We have based these forward-looking
statements on current expectations and assumptions about future events. While we consider these expectations and assumptions to be reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Except for statements of historical facts,
information contained herein constitutes forward-looking statements, including any information as to our strategy, plans or financial or operating performance. Forward-looking statements involve
significant risks, uncertainties and assumptions and other facts that may cause our actual future results, performance or achievements to be materially different from any estimated future results,
performance or achievements expressed or implied by the forward-looking statements. In light of the risks and uncertainties described above, the events referred to in the estimates and forward
looking statements included in this presentation may or may not occur, and our business performance and results of operation may differ materially from those expressed in our estimates and
forward looking statements, due to factors that include but are not limited to those mentioned above.

These forward-looking statements are made as of the date of this presentation, and we assume no obligation to update them or revise them to reflect new events or circumstances. There can be no
assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

3
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

4
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

5
 Health and Safety
Focused on Safe Operations

Total Recordable Injury Frequency Rate

(Cerro Lindo)
4.85
2.86 3.59
2.05 2.66

2014 2015 2016 2017 2018

Total Recordable Injury Frequency Rate

(Nexa Average)
2nd Quartile: 3,55
2.78 2.27 2.25 2.46 2.45

2014 2015 2016 2017 2018

• Implementation of the Safety Plan with DuPont support based on 8 pillars

• First Nexa Safety Meeting with its Strategic Suppliers with the aim of strengthening our long-term relationships and effective communication
• Implementation of the Prevention of Fatalities and Critical Controls program for high risk management
• Leadership training in the roles of Risk Management and Influence in Safety

6
 Highlights

Historical production:
Key highlights
delivering long term production growth

Total ore mined (2007 – 2018) Total Zn Production -

Contained
• Located in the province of Chincha, Ica region – 268km from Lima 50.4 Mt 1.3 Mt
and accessible by road
• Developed in 2006 at 5.0ktpd capacity; nameplate capacity of 21.0
ktpd 7.3 7.3
Mined Ore 6.8
• World-class zinc operation: 5.4 5.9
− 6th largest zinc mine globally (2018) 3.8
3.1 3.3
− 2nd largest underground mine in South America; largest in 2.0 2.4 2.5
Peru 0.6
− Strong by-product revenue stream (Zn-Cu-Pb-Ag)
• Modern, mechanized, and low cost operations 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1H18
• VMS orebody with excellent exploration track record and potential
• Environmentally friendly: Zn Eq. Composition 1H181
− Paste backfill and dry stack tailings
− One of the first mines in Peru to use desalination; recycling Pb 6 kt
Ag (4.1%)
as much as 91% of its water consumption 1.5 mm oz
• Authorization granted by the environmental authorities for the (2.8%) Zn Eq. Production1
development of drilling platforms in the area of Topara North to 116 kt
start activities in August 2018

Cu
19 kt Zn
(37.4%) 61 kt
(55.6%)

Source: NI 43-101 Technical Report for data (2007-2017) and Consolidated Earnings Release for 2018.
1 Zn Eq calculated using 2017 prices (Zn: US$2,896/t; Cu: US$6,166/t; Pb: US$2,317/t; Ag: US$17/oz; y Au: US$1,257/oz).

7
 Cerro Lindo Mine Location
Located only 268 km from Lima
Mine Property
Pipeline
Road
Processing Plant
Cerro Lindo
(2,100 masl)

Pump Station N° 3
(1,495 masl)

Lima
Tailings
(2,095 masl)
Pump Station N° 2
Lima (748 masl)

Cerro
Lindo

Cerro Lindo Mine

Pump System Desalination Plant

(8 masl) (90 masl)
0 2,000km Desalination Plant

South Pacific Ocean

Mine/Plant
City
Highway
Trail
Highway (208 km)
Dirt Road (61 km)
0 20km
Source: NI 43-101 Technical Report.

8
 History
Strong Track Record of Continuous Growth

21 ktpd

Treatment 5 ktpd 10 ktpd 15 ktpd 18 ktpd 20 ktpd

Capacity

S Start

Fininsh

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Cumulative US$ US$ US$ US$ US$ US$

CAPEX 110mm 210mm 375mm 390mm 410mm 444mm

Efficient capital intensity1

6.2 6.8
4.5
2.4
Initial capex / Production
(US$’000/t Zn)

Cerro Lindo Industry avg. Industry avg. Est. Industry avg.

2006-2010 2011-2016 2017-2019

Source: NI 43-101 Technical Report; Cerro Lindo figures based on Prospectus. 1 Industry capex figures from Wood Mackenzie.

9
 Reserves & Resources
Strong Track Record of Reserve Replacement, Maintaining a Consistent Mine Life

Reserves and Resources Evolution (Mt ore)1 Reserves Bridge (Mt ore)
Reserves

M&I Resources 52.4 -7.3 10.3 55.4

9 6 7 6 7 7
Inferred
Resources 55.4
45.9 52.4
Throughput 38.4 46.1
35.6 39.9 41
34.6
28.8
LOM
11 12.1 15
9.2 6.2 4.5 9.3
3.8

Reserves Treated Ore Reserves Reserves

2012 2013 2014 2015 2016 2017 (Dec 2016) (Dec 16’ - Replenishment (Dec 2017)
Annual drilled 25.6 37.4 39.2 47.0 85.0 93.7 Dec 17’)
Meters (km)

2017 Reserves2 2017 Resources2

Grades Grades
Category Mt Category Mt
Zn (%) Cu (%) Pb (%) Ag (g/t) Zn (%) Cu (%) Pb (%) Ag (g/t)
M&I
Proven Resources 3.8 1.78 0.67 0.24 25.7
Reserves 33.5 2.3 0.67 0.24 21.15
Probable Inferred
Reserves 21.8 1.87 0.67 0.18 18.35 Resources 9.3 1.65 0.60 0.23 23.4

Total Total
55.4 2.13 0.67 0.22 20.1 Resources 13.1 1.69 0.62 0.23 24.1
Reserves

Source: NI 43-101 Technical Report 30 June 2018, AIF2018 (data for 2017) / 1 LOM calculated using each year’s throughput, based only on reserves. / 2 Mineral Resources are declared exclusively of Mineral Reserves.
The following prices were used to calculate Mineral Reserves in 2016 (Zn: US$2,406/t; Cu: US$5,907/t; Pb: US$1,943/t; Ag: US$18.94/oz) and Mineral Reserves in 2017 (Zn: US$2,479/t; Cu: US$6,219/t; Pb:
US$1,931/t; Ag: US$18.42/oz).

10
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

11
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

12
 Geology and Exploration
Location and Regional Geology

Description

• Located 160 km (straight line) to the southeast of Lima

• Hosted within rocks of Casma Group: Cretaceous marine volcano–
sedimentary rocks
• Volcanogenic massive sulfide deposit (VMS)
• Deposit dimensions: 1,500 m long / 1,000 m wide / 470 m height
• The deposit comprises horizontally elongated mushroom-shaped massive
bodies, composed of pyrite (50% to 90%), yellow sphalerite, brown
sphalerite, chalcopyrite, and galena in minor extent
• Significant barite is present mainly at the upper portions of the deposit
• A localized secondary-enrichment zone, composed of chalcocite and
covellite, has formed near-surface where massive sulfides have oxidized
• Silver-rich barite powder remains at surface as a relic of sulfide oxidation
and leaching
• The regional setting and local geology (lithological and structural controls,
alteration pattern, mineral zonation), as well as the depositional
environment and genesis of the deposit, are considered to be well
understood

Source: NI 43-101 Technical Report.

13
 Geology and Exploration
Tenements

CERRO LINDO MINE

• 66 exploration properties (43,751 hectares)

• Detailed geological mapping and exploration still

restricted to the central most part of the land
package

Source: NI 43-101 Technical Report.

14
 Geology and Exploration
Local Geology

OB8

OB1X
OB9

Source: NI 43-101 Technical Report.

15
 Geology and Exploration
Orebody and Mineralization

• Massive sulfide formed through black smoker

generating subsea floor replacement into porous
country rock (between 50 and 200 meters below sea
floor)

• Massive sulfide body may be separated into two

different orebodies:

• SPB – barite + sphalerite (Zn ore)

• SPP – pyrite + chalcopyrite (Cu ore)

• The metal zonation perceived in the sketch to the left is

a temperature gradient: from hotter deeper portion
(massive pyrite – barren) to cooler (massive barite +
sphalerite – Zn ore)

• The primary geological framework is overprinted by

deformation and thermal metamorphism (hornfels)

100 m

Source: NI 43-101 Technical Report.

16
 Geology and Exploration
Drilling

• Between 1995 and August 2018, a total of 487,011 m were drilled in 3,489 surface and underground drill holes within the mine area
• Between 2010 and 2015 most of drilling aimed to fill the gap between extensive drilled targets. Although, between 2015 and 2018
exploration headed to identification of new targets

Drill–hole location map

Total of
OB3-4 OB8A
487,011
meters of
OB2B drilling
OB1 OB2 OB6B

OB5 OB6A
OB5B
OB8
OB5C OB7
OB9

3D view with known

orebodies and all historical
drilling

Source: NI 43-101 Technical Report.

17
 Geology and Exploration
Discoveries

Orebody names and date of discovery

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
OB-6 - - OB-7 OB-6A OB-6B OB-2B, OB-8 OB-5B OB-3–4 OB-OB8 OB1x OB-9, OB-5C

During 2018 we are expanding

resources at:
• OB9
• OB3-4
• OB6C

In addition to that we are

testing several deep geophysical
anomalies identified during the
Titan 24 survey

Source: NI 43-101 Technical Report.

18
 Geology and Exploration
Discoveries made in 2018

LITHOLOGY DRILL HOLES 2018 MINERALIZACION

Diorite Executed SPB (Sulfide, Barite, Sphalerite)
In progress
Granodiorie Programmed SSM (Semimassive sulfide, economic)
Granodiorite gno md
Target SSM (Semimassive sulfide, low grade)
Metavolcanic
E E E E Ore Body SPP (Py, Po, Cp Massive sulfide, economic)
Andesític dike
E E E E
SPP (Py Massive sulfide, low grade)
E E E E Andicitic Volc. !( Enabled chamber.
Felsic Volc. !( Chamber to enable PROGRAMMED MINING WORKS 2018
#
* Platform
Volcanoclastic Executed Nv. 1650.
!( Chamber location Nv. 1850.
mining work
Nv. 1710. Nv. 1940.
Source: NI 43-101 Technical Report.

19
 Geology and Exploration
Regional Exploration Targets

LEGEND

LITHOLOGY
Q-al, Q-co
Ventanalloc Interbedded limestone-shale
Exp. 2024-2028 Andesite Volcanic
Volcanic-clastic
Felsic volcanic
Dacite Volcanic
Rhyolitic Ignimbrite
Topara LITOLOGIA
Metavolcanic
8 Exp. 2018-2023 Q-al, Q-co
Andesitic
Calizas intercaladas con Porphyry
lutitas dike
Volcánica Andesítico
Diorite
6 Patahuasi Millay
Volcanoclástico
Granodiorite-Granite
Volcánico félsico
Toldo Grande
Exp. 2018-2024 Medium
Volcánico dacítico grain Granodiorite
Pucatoro
Ignimbrita_Riolítica
Exp. 2019-2024
3 2 5 Recrystallization
Metavolcánico
Dique pórfido andesítico
Pucasalla Orcocobre STRUCTURES
Diorita
Exp. 2018-2022 Granodiorita-Granito
Anticline axis
1 M
F
Granodiorita-grano medio
Syncline axis
Potential
Type of
4 Recristalización

Main fault
ESTRUCTURAS
Target Inferred Fault
rock F Eje anticlinal

1Cerro Lindo Mine Rhyolite Cerro Lindo Mine M Eje sinclinal

2Topara Rhyolite Exp. 2018-2022

7 SIMBOLOGY
Falla definida
Falla inferida
3 Pucasalla-Orcocobre Rhyolite % Strike/Dip
Bx con OxMn, OCu, Gn, Sp
Rhyolite-
4 Cerro Lindo Sur Andesite _ Vertical Fracture
SIMBOLOGIA
Rhyolite- %
5 Patahuasi-Millay Andesite
_Rumbo/Buzamiento
Strike/Dip fracture
_ Fractura vertical
6 Toldo Grande-Pucatoro Rhyolite _
(
Strike/Dip schistosity
Rbo/Buz de fracturas
7 Chavín del Sur Lime stone
Patahuasi Millay Chavín del Sur
(
Õ
Rbo/BuzVertical
de esquistocidad
Folation
8 Ventanalloc Rhyolite
Õ Foliación vertical
Exp. 2018-2026 Exp. 2022-2026
Concessions
Concesiones
DrenajeDrainage

Source: NI 43-101 Technical Report.

20
 Geology and Exploration
Geophysical Survey

Executed in 2017

 24 Lines
 93 km of total line executed
 DCIP– Chg HS Ref – Cerro Lindo Titan 24

• Successfully identified the known

mineralization and possible its extensions to
the southeast and northeast.

• Anomalous zones in regional targets

• Good match between geology, geochemical,

spectral (alteration) and geophysical
anomalies at:

• Orcocobre

• Pucatoro
Source: NI 43-101 Technical Report.

21
 Geology and Exploration
Orcocobre Drilling Program

LITHOLOGY DRILL HOLES 2018

Diorite Executed
In progress
Granodiorie Programmed
Granodiorite gno md
Target
Metavolcanic
E E E E Andesític dike
Ore Body
E E E E Superficial property
Andicitic Volc.
Felsic Volc.
!( Enabled chamber.
Volcanoclastic
!( Chamber to enable
#
* Platform
Fault
PROGRAMMED MINING WORKS 2018

Nv. 1650. Nv. 1850.

Executed mining work
Nv. 1710. Nv. 1940.

Source: NI 43-101 Technical Report.

22
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

23
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

24
 Cerro Lindo Mine Layout and Orebody Capability
Massive Orebody and Large Scale UG Mine Operation

Actual Mine

1,000 m
LOM

1,000 m
2,200 m

2,200 m

25
 Cerro Lindo Mine Layout and Orebody Capability
Massive Orebody and Large Scale UG Mine Operation

Actual Mine

500 m
LOM

1,900 m

500 m
1,900 m

26
 Mining Method
Large Stopes at High Level of Production Rate

Overview Mining Method – Sub-level Stopping

• High level of mechanization

• Sub-level Stoping and Caving

methods provides high productivity
and low cost

• The stopes are filled with paste

composed of tailings with added SECOND ROW
cement OF STOPE
TERTIARY STOPE
• Access made by 7 portals, via FIRST ROW 72,0%
ramps, increasing the flexibility and OF STOPE RECOVERY
security of operations

• Haulage of ore to surface through

35t and 50t trucks (28%) and
conveyor belts (72%)

KPI:
 134 heavy equipment
 Plant Capacity – 21ktpd PRIMARY STOPE
 Mine development – 34,3km (2018E) 85,8%
 Metallurgical Recovery RECOVERY
• Zn – 91%
SECONDARY STOPE
• Pb – 74%
• Cu – 87% 72,0%
RECOVERY
• Ag – 70%

27
 Plant Processing
Process material flow sheet

• Capacity of 21,000 tpd or 7.5 Mt/a plant

with 97% utilization rate
• Conventional crushing and grinding, with
lead and copper bulk flotation
• Produces separate concentrates of zinc,
lead and copper with silver content (world Mine Primary Crushing Secondary Crushing Grinding
class quality)
• ~50% of tailings are sent to the tailings
facility with the remainder utilized as
cemented paste backfill Flotation and
thickening
• As much as 91% of the processed water
from dewatered tailings is recycled with Re t ur ns W ater
t o m ine
fresh water supplied from the desalination Paste backfill plant Tailing deposit Re cir cula ci ón
plant (zero effluents)
550%
5% 4 550%
%

Head Conc.
Recovery
2018 Grades Grades
(%) (%) (%)
Zinc 1.97 59.20 91.92
Copper 0.66 26.40 87.30
Lead 0.23 63.60 72.80
Concentrate
Silver 0.68 70.00 transportation Filtered

28
 Tailings Facility
Dry Stacking Method

PAUHAYPITE N°1
Used capacity = 9,710,827 m3 (61.85%)

PAUHAYPITE N°2
Tailings disposition capacity = 13,500 tpd

Forming and drying

Total tailings capacity = 15,700,000 m3

Tailings life = 4.77 years

Filtered tailings pile

Compacted tailings

29
 Water Consumption
Only 9% is Fresh Water and Seawater Usage

Desalination Plant Capacity = 5100 m3/d

1 Intake
Seawater 2 Desalination
Plant 3 Pumping Station
to Mining Unit 4 Processing
Plant

Cerro Lindo
Innovation in water management Mining unit
(1,800 masi)

Pumping
Salad water station
tank Filters
Sea water Water pumps

30
 Power Supply
Reliable and Low Cost

Low-cost energy
(US$0.053/kwh)

• Cerro Lindo has two transformers and two independent 60 KV transmission lines that provide 50 MVA (actual demand of 38 MVA)
• In 2019 and 2020, 2 transformers of 19 MVA and 25 MVA will be installed, one in each substation (SE Cerro Lindo and SE Desierto),
increasing the reliability of the power supply
• Cerro Lindo is connected to the National Electric System Grid, ensuring reliable, low–cost energy for full capacity production

31
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

32
 Agenda
• Overview
 Health & Safety

 Highlights

 History

 Reserves & Resources

• Geology & Exploration

• Operations
 Mining

 Processing

 Infrastructure

• Production & Cash cost

33
 Historical Production, Grades & Recoveries

Production & Grades Stable Recoveries

Contained Metal 92.67% 92.25%

293 296 283
91.54% 91.21%
116
Zn Eq. (k t)1
Ag (k oz) 3,332 3,598 3,546 1,470 86.10% 87.63%
83.37% 84.13%
Au (k oz)
3.9 4.2 4.0 1.6
Zn (k t)
Cu (k t) 177 174 156 76.03%
73.69% 74.26% 74.19%
Pb (k t) 41 44 61
39 16 19 6
15 15
71.69% 71.81%
2015 2016 2017 2018 1H 68.93%
65.90%

Mined Ore (Mt) 6.8 7.3 7.3 3.3

2015 2016 2017 2018 1H

Zn 2.83% 2.56% 2.33% 2.00%

2015 – 2018 1H (Average)
Ore Cu 0.68% 0.66% 0.69% 0.66%
Zinc 91.92%
Grade Pb 0.30% 0.29% 0.27% 0.23%
Copper 85.31%
Ag 0.75 oz/t 0.73 oz/t 0.69 oz/t 0.62 oz/t Lead 74.54%

Source: NI 43-101 Technical Report for data (2015-2017) and information provided by the units for 2018. Silver 69.58%
1 Zn Eq calculated using 2017 prices (Zn: US$2,896/t; Cu: US$6,166/t; Pb: US$2,317/t; Ag: US$17/oz; y Au: US$1,257/oz).

34
 Historical Cash Cost & By-product Revenue
Cash Cost Evolution 1H18 Cash Cost Breakdown

Total Cash Cost 32.1 US$/t

US$ MM US$/t ROM
32.1 Administration General Services
400 35
28.2 27.8 29.1 1.73 0.69
350 30
5% 2%
300 A
A A 25 Plant
250
191 204 212 8.45
20
200
A 15 27%
150 107
100 10
50 5 Maintenance Mine
- - 2.57 18.48
2015 2016 2017 2018 1H 8% 58%

C1 Cash Cost Evolution1 By-products Revenue

(US$/t of Zn Contained) (US$/t of Zn Contained)

Sustaining Cash Cost 2 C1 Cash Cost 1 6,558
439 363 6,163
5,502
-141 4,863
350 259 -290 2,054 2,427
1,296 1,457
-189 -312
2015 2016 2017 2018 1H
2015 2016 2017 2018 1H
Lower C1 Cash Cost affected by higher by-product
revenue mainly due to an increase in copper prices Copper prices (US$ / t)

Source: Consolidated Earnings Releases (2015-2018); NI 43-101 Technical Report. A Cash cost: calculated by multiplying US$/t ROM per treated ore.
1 C1 Cash cost: cost of goods sold minus by-product credits, depreciation and others, plus treatment and refining charges and selling expenses. 2 Sustaining Cash cost: C1 cash cost plus sustaining capex.

35
 World-class zinc Strong track record of
operation reserve replenishment

One of the major VMS

6th World largest
zinc mine deposit

cost
Under explored
Low sustaining district

1 capex
2

CERRO LINDO
Best-in-class
Great location mine
and accessibility Sea water
used

Dry stack
Solid logistics tailings

91%
water

4 3 efficiency

36
1st Nexa Investors Site Visit

Cerro Lindo - Perú

October 2018
 Group Distribution
Group A – MINE Transport Vehicle Group B – PLANT
1 Translator Pickup N°1 1 Translator
2 Sound Technician Pickup N°1
Group B will be using a
2 Sound Technician
3 Support Staff Pickup N°1 3 Support Staff
bus to visit the
4 Photographer Pickup N°1
4 Photographer Concentrator Plant
5 Tito Martins Pickup N°2
5 Mario Bertoncini
6 Marcos Assumpção Pickup N°2
6 Shane Nagle
7 Jones Belther Pickup N°3
7 Edder Castro
8 Carlos De Alba Pickup N°3
8 Jones Belther
9 Luis Pardo Pickup N°3
10 Ricardo Porto Pickup N°4 9 Antonio Heluany

11 Pamela Vega Pickup N°4 10 Oscar Cabrera

12 Jose Olazabal Pickup N°4 11 Leandro Cappa
13 Antonio Padrón Pickup N°5 12 Renan Criscio
14 Omar Avellaneda Pickup N°5 13 Arthur Suelotto
15 Alonso Olaechea Pickup N°5
14 Leonardo Coelho
16 Henry Aragón Pickup N°6
15 Pedro Leduc
17 Luis Andres Vicente Pickup N°6
16 David Oropeza
18 Marco Contreras Pickup N°6
17 Bruno Garcia
19 Renata Fernandes Coutinho Pickup N°7
20 Derick Ma Pickup N°7 18 Flor Felices

21 Alexander Jackson Pickup N°7 19 Joswilb Vega

38
 Backup

October 2018
 Seawater Pipeline Replacement

Overview

 Description: Replacement of the seawater feed line.

 Objective: The aim is to replace the seawater feed line,

from the coast to the mine site, reducing the working
pressure by increasing the diameter and improving the
availability of water flow. The project will be carried out in
three stages: (1) replacement of the critical sections (11.3
km) by the end of 2018 and (2) other sections along
2019.

 Project status: Project in construction phase with

equipment suppliers already hired.

 Expected completion date: Q2/2019

 Capital expenditures: US$12mm

Project implementation milestones

2018 2019 2020

3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

Fabricación Tuberías

Montaje de Tubería

Start up

Cierre
Source: Prospectus

40
 Pahuaypite New Waste Disposal

Overview

 Description: Construction of a new waste disposal.

 Objective: Construction of a new waste disposal

downstream on the Pahuaypite 1 and 2 TSFs, to assure
Cerro Lindo’s operation continuity. The project includes
the construction of accesses, canals, drainage systems,
startup platform, waterproofing and others.

 Project status: Project in construction phase with

principal supplier already hired. Stage I of disposal built,
including breakout dam that allowed the mine to continue
operating. Stage II in process of construction.

 Expected completion date: Q1/2019

 Capital expenditures: US$10mm

Project implementation milestones

2018 2019 2020

2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

Construcción I Etapa

Construcción II Etapa

Start up

Cierre

Source: Prospectus, Company

41