On May 28, 2025, Alpayana S.A.C. announced that it had requisitioned a meeting of the shareholders of Sierra Metals Inc. under Section 143 of the Canada Business Corporations Act for the following purposes: (1) to remove the 6 directors of the Company?Miguel Aramburu, Ernesto Balarezo, Wendy Kaufman, Roberto Maldonado, Robert Neal, and Beatriz Orrantia?as well as any directors who may be appointed to the Board of Directors of the Company prior to the meeting; (2) to set the size of the Board at 3 directors; and (3) to elect 3 new directors to the Board?Fernando Arrieta, José Cúneo, and Dustin Perry.