Nexa Resources S A : Earnings Call Presentation - 1Q21

From the world of mining to the world of people

1Q21 Results

April 30, 2021

Disclaimer

Important information concerning this presentation

This presentation, prepared by Nexa Resources S.A. (herein referred to as the "Company" or "Nexa"), is solely for informational purposes. Disclosure of this presentation, its contents, extracts or abstracts to third parties is not authorized without express and prior written consent from the Company.

Certain statements disclosed herein are "forward-looking statements" in which statements contained herein that the information is not clearly historical in nature are forward- looking, and the words "anticipate," "believe," "continues," "expect," "estimate," "intend," "strategy," "project" and similar expressions and future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may," or similar expressions are generally intended to identify forward-looking such statements. These forward-looking statements speak only as of the date hereof and are based on the Company's current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond the Company's control. As a consequence, current plans, anticipated actions, and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in the presentation. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein and we do not intend to update any of these forward-looking statements.

This presentation includes the Company's unaudited non-IFRS measures, including: adjusted EBITDA; net debt; working capital; cash cost net of by-products. The Company presents non-IFRS measures when we due to the belief that the additional information is useful and meaningful to investors. Non-IFRS measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-IFRS measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board.

The information and opinions contained herein should not be construed as a recommendation to potential investors and no investment decision should be based on the truthfulness, timeliness or completeness of such information or opinions. None of the advisors to the Company or any parties related to them or their representatives shall be liable for any losses that may result from the use or contents of this presentation.

This presentation also contains information concerning the Company's industry that are based on industry publications, surveys and forecasts. The information contained herein involves and assumes a number of assumptions and limitations, and the Company did not independently verified the accuracy or completeness of such information.

All dollar amounts referenced in this presentation, unless otherwise indicated, are expressed in United States dollars. 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 the Company. The Company 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.

Certain information contained in this presentation with respect to the Company's Morro Agudo, Shalipayco, Magistral and Florida Canyon Zinc projects are preliminary economic assessments within the meaning of NI 43-101 (as defined herein). Such preliminary economic assessments are preliminary in nature, including certain information as of inferred mineral resources that are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that such preliminary economic assessments will be realized. The bases for such preliminary economic assessments (including certain qualifications and assumptions) are described in the Company's documents filed with the SEC and in each of the provinces and territories of Canada.

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Nexa | A resilient performance in a challenging scenario

Effective response to COVID-19. Crisis committee remains in place

The health and safety of our people remain our top priority

Nexa recorded the 3rd highest Adjusted

EBITDA in its history

Disciplined cost control and capital

allocation

Aripuanã on track

Strong balance sheet and continued deleverage process

130kt	148kt
zinc equivalent	Metal
production	sales
(up 7% from 1Q20)	(up 2% from 1Q20)

US$ 180 million

Adjusted EBITDA

(up 312% from 1Q20)

1.73x	US$ 84 million
Financial leverage			CAPEX

We are on a journey to build an

ESG-focused mining company

2010			2012				2014
2011	Sustainability Department	2013	•	Health and Safety		2015	•	Material Issues
•
•	Environmental Management			Management System			•	GRI Report
	System			•	Integrated Dam Management	•	Safety as a non-
					System				negotiable value
								•	GHG emissions
								•	Diversity
	2017				2016
	•	Peru Safety Plan				• Quality of life program
	• Dam breaks emergency action plan	•	Hydric balance
	•	Social agendas				•	Decommissioning plans
	•	Local development plans			•	Sustainability criteria for suppliers
	•	Volunteer program Somos Todos		• Community analysis and needs assessment

2018		2019	2020			2021
•	Fatality Prevention	•	Sustainability	•	Response to COVID-19
•	Nexa Security Index		Committee	•	Integrated Social
•	Dam-break simulation	•	Health Strategy		Management	Enhancing
•	Sust. risk assessments	•	Water and sanitation	•	ESG strategy design	ESG strategy
	in supply chain

• Social strategic pillars

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Main projects portfolio

Development timeline

Peru

PROJECTS

Aripuanã

Polymetallic

Magistral

Hilarión

		ESTIMATED TIMELINE		Lima							Brazil
			Pukaqaqa
2017	2018	2019	2020	2021	2022	2023	2024	2025
					Aripuanã

Sao Paulo

+119kt¹ Start-up: early 2022

Nexa Greenfield Projects

Magistral

Copper | Molybdenum

Pukaqaqa

Copper | Molybdenum

Hilarión

Polymetallic (Zn-Pb)

Stage: FEL3 | On going2

Stage: Pre Feasibility | On Hold3 Metallurgical tests concluded in 1Q21

Stage: Pre Feasibility | On going

Exploration activity focused on South

Hilaríon

Attractive project

portfolio in different

stages of maturity

Bonsucesso

Polymetallic

Stage: FEL3 | On going4

EXPLORATION AND	FEASIBILITY	CONSTRUCTION
PRE FEASIBILITY

Note: Estimated timeline as of April 2021. ¹Annual zinc equivalent production; ²In 2021, we expect to advance further detailed engineering and optimization opportunities to mitigate the risk of project execution, before consideration of project approval. 3Capital allocation strategy in response to COVID-19;4 FEL3 resumed 1Q21, as expected.

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