Nexa Resources S A : Exploration Report 4Q21 and FY2021

Exploration Report - 4Q21 and 2021

Nexa Reports Fourth Quarter and Full Year 2021

Exploration Results

Luxembourg, February 08, 2022 - Nexa Resources S.A. ("Nexa Resources", "Nexa", or "Company") is pleased to provide today the drilling and assay results from the fourth quarter of 2021 and full year 2021. This document contains forward-looking statements.

Summary

Nexa's Mineral Exploration program for 2021 comprised a total of 111,000 meters of exploratory drilling, of which 29,609 meters were executed in the fourth quarter of 2021 through 21 operating drill rigs, totaling 110,306 meters of exploratory drilling in 2021.

In Peru, 18,335 meters were drilled in 4Q21 with eleven rigs, totaling 76,579 meters in 2021. At the Pasco Complex, the exploration continued to focus on the Sara Sur and Integración targets at El Porvenir with thick and high-grade new intersections. At Cerro Lindo, drilling in 4Q21 has remained focused at the Pucasalla target, aiming to expand the new VMS discovery at the site and near mine underground ore body expansion at orebody 5B and Orcocobre Deep.

In Brazil, 6,524 meters of exploratory drilling were executed with seven rigs in 4Q21, totaling 21,419 meters in 2021. At Aripuanã, exploratory drilling has been focused on northwest extension of Babaçu where new drilling continues to confirm high-grade mineralization.

In Namibia, 4,750 meters were drilled in 4Q21 with three rigs, totaling 12,309 meters in 2021. Exploratory drilling continued to focus on exploratory targets at the Otavi and Namibia North projects.

4Q21 Mineral Exploration Highlights

• At Cerro Lindo, the VMS mineralization at the Pucasalla target located 4.5 kilometers northwest of the Cerro Lindo mine is confirming continuity of mineralization with intersections such as 8.7 meters with 4.67% ZnEq and 61 meters with 1.27% Cu and 0.68g/t Au.
• At El Porvenir, drilling activities continue to confirm lateral extensions of the Sara orebody. At Sara Sur, thick intersections such as 4.7 meters with 1.37%Zn, 0.80% Pb, and 214.93g/t Ag, and 4.8 meters with 2.19%Zn, 4.51% Pb, 128.40g/t Ag, and 0.67g/t Au. At Integration, orebody assay results were obtained such as 27.4 meters with 1.65% Zn, 0.75% Pb, 150.27g/t Ag, and 0.12g/t Au; 7.8 meters with 1.35% Zn, 1.41% Pb, 440.71g/t Ag, and 1.5g/t Au; and 7.7 meters with 1.08% Zn, 1.11% Pb, 746.32g/t Ag, and 0.49g/t Au, confirmed mineralization below 3,300 level.
• At Hilarión Sur, 4,031 meters of exploratory drilling was completed in 32 holes confirming the southeast continuity of the Hilarión deposit towards the edge of the Hilarión stock with multiple thick intersections ranging from 22.0 to 47.6 meters.
• At Vazante, drilling is confirming continuity of the main orebody at depth.
• At Morro Agudo, drilling continued at Bonsucesso to confirm continuity of mineralization in the central area of the deposit.
• At Aripuanã, exploratory drilling continued at the deep northwest extension of Babaçu, confirming thick massive sulfide intersections in three holes with broad mineralized zones.

Exploration Report - 4Q21 and 2021

"During 2021, Nexa's exploration program had achieved 99% of its planned activities with the execution of 110,306 meters of drilling out of the 111,000 meters planned", commented Jones Belther, Senior Vice-President Mineral Exploration & Technology.

"We achieved outstanding results in our brownfield program at Cerro Lindo with the discovery of the Pucasalla mineralized body, 4.5km northwest of the Cerro Lindo mine, which represents the first relevant discovery north of Topará Creek, opening up a large and promising new search space for brownfield exploration and potential life of mine extension at Cerro Lindo. At the Pasco Complex, the assay results of work undertaken at the Sara ore body, Integración Zone, and extensions of San Gerardo open pit were good, with the addition of new resources and also the opening up of new search spaces for the potential continuous addition of resources for the coming quarters of 2022. At the Vazante Mine, assay results in Extremo Norte at depth and Lumiadeira expanded resources and indicate an additional potential for the 2022 exploration program. At Bonsucesso, the exploration program throughout 2021 was very successful, demonstrating the continuity of the parallel ore body with an expected increase in resources. At Aripuanã, the Babaçu ore body continues to be expanded towards the northwest and at depth, with thick and high-grade intersections, with perspectives to add new resources and to continue exploration in the coming quarters of 2022.

In terms of our greenfield projects, the Hilarión exploration program has extended the ore bodies towards the south into the Hilarión Sur target, which could add resources and remains open for additional exploration in the future. We have intersected thick and continuous mineralized bodies in this target that characterize the Hilarión Project as one of the largest zinc mineral resources in Peru.

The results of the 2021 exploration program support our continuous life of mine extensions from current operations and commissioning operations, such as Aripuanã, as well as our future growth goals through resource expansions in our greenfield projects."

Cerro Lindo

The exploration program in 4Q21 has been focused on extensions of known orebodies to the southeast of Cerro Lindo, and at the new VMS discovery at the Pucasalla target, 4.5 km to the northwest of the mine. There are currently five operating drill rigs.

In 4Q21, a total of 8,455 meters of exploration drilling and 12,997 meters of infill drilling were executed totaling 33,199 meters and 56,804 meters, respectively, in 2021. Exploration drilling included 396 meters in orebody 5B; 5,211 meters at Pucasalla, 859 meters at Orcocobre Deep, and 1,990 meters in orebody 12 targets located northwest of the mine.

The northeast continuity of the Pucasalla mineralized zone was confirmed with hole PECLD05806 with 8.7m@3.14% Pb and 148.16g/t Ag; and 15.9m@1.52% Zn, 1.42% Pb, and 41.25g/t Ag. The northwest continuity of the body was confirmed with hole PECLD05880 with 61.0m@ 1.27% Cu, 29.81g/t Ag, and 0.68g/t Au.

Note: for further information on Zinc Equivalent calculation, please refer to Note 1 - Zinc Equivalent. Intervals with assays not reported here have no consistent samples > 3.0% Zinc Equivalent or assay results are pending. True widths of the mineralized intervals are unknown at this time.

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Exploration Report - 4Q21 and 2021

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Exploration Report - 4Q21 and 2021

For 1Q22, we plan to continue drilling the Pucasalla target from the surface with two rigs towards the northwest and southeast extensions (3,400 meters in total). Inside the mine, the objective is to drill the northwest extension of orebody 5B and the Festejo geophysical anomaly, located 0.78 km southeast of Cerro Lindo (2,150 meters with one rig).

El Porvenir

The exploration drilling work was focused on extending the existing mineralized bodies along strike and at depth, and conducting exploration drilling on the Sara mineralized zone.

In 4Q21, a total of 4,106 meters of exploration drilling and 7,539 meters of infill drilling were executed totaling 18,625 meters and 35,627 meters, respectively, in 2021. A total of 1,898 meters were drilled at Sara Sur with one rig and 1,586 meters at Integración orebody with one rig. An additional 622 meters were drilled at the Porvenir Sur target.

The continuity of Sara Sur towards the south is confirmed, trending southwest mainly. Main intercepts are shown in hole PEEPD02096 in two intercepts: 4.7m@ 1.37% Zn, 0.80% Pb, and 214.93g/t Ag; and 4.8m@2.19% Zn, 4.51% Pb, 128.40g/t Ag, and 0.67g/t Au. In the Integration orebody, positive results were obtained in holes PEEPD02066 with 27.4m@1.65% Zn, 0.75% Pb, 150.27g/t Ag, and 0.12g/t Au, and PEEPD02099 with two intercepts: 7.8m@1.35% Zn, 1.41% Pb, 440.71g/t Ag, 1.5g/t Au and 7.7m@1.08% Zn, 1.11% Pb, 746.32g/t Ag, and 0.49g/t Au, which confirms the continuity of mineralization below the 3,300 level. In December 2021, the Porvenir Sur target was drilled, where hole PEEPD02131 revealed 4.1m@4.84% Zn, 4.91% Pb, 156.32g/t Ag and 1.11g/t Au.

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Exploration Report - 4Q21 and 2021

Note: for further information on Zinc Equivalent calculation, please refer to Note 1 - Zinc Equivalent. Intervals with assays not reported here have no consistent samples > 2.5% Zinc Equivalent or assay results are pending. True widths of the mineralized intervals are unknown at this time.

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