Cees ´t Hart

Good morning, ladies and gentlemen. It’ 10 a.m., so I propose that we open this meeting. Welcome. I’m Cees ´t Hart. I Chair the Supervisory Board, and I’m pleased to open this Annual General Meeting of Shareholders and welcome you all. I’m also pleased to welcome those following this meeting online.

Today, all members of the Executive Board are present. From left to right, they’re seated at the table, our COO, Jesus Echevarria; our CHRO, Myriam Beatove, CFO; Jorge Vazquez and our birthday boy, Sander van ‘t Noordende. And we hope that you’ll join us for coffee on his behalf. I’m not going to sing happy birthday because I’m not sure what the result would be, but welcome, but welcome Sander van ‘t Noordende on behalf of the Supervisory Board, alongside myself. From left to right, the Audit Committee Chair, Laurence Debroux, the Remuneration Committee Chair, Annet Aris and Jeroen Drost. The other members of the Supervisory Board are attending the meeting online. Also with us this morning is

Also with us this morning is Jacobina Brinkman from the accountancy firm,PricewaterhouseCoopers at 2D adoption of the 2025 financial statements. She’ll be happy to answer questions concerning the financial statements. Previous — prior to this, she’ll deliver a brief explanation about the annual audit process and the auditor’s report. We also have with us the Company Secretary, Jelle Miedema, who I hereby appoint as Secretary of the meeting and will first explain some procedural matters.

The yield rose more than 20 basis points this week, the most since May 2022, LSEG data showed.

The 10-year bond opened at 6.93% and traded in a range of 6.95% to 6.90%, according to Clearing Corporation of India data.

“The opening and follow-up action both were weak today. One would have expected some demand to emerge after yields touched 6.95%, but there was no retracement,” said Vijay Sharma, senior executive vice-president at PNB Gilts.
Traders are finding it hard to call specific levels in this kind of volatility, especially with the West Asia war ongoing and oil prices staying elevated.

Live Events

Agencies

Brent crude oil prices rose by $1.87, or 1.73%, to $109.88 a barrel, LSEG data showed.
“We cannot project future levels in such volatile conditions, and we do not know what will happen overnight,” Sharma said. Bonds are also under strain as states sold debt worth nearly ₹1 lakh crore during the week, amid waning investor demand.

Financial institutions are expected to face mark-to-market losses as the benchmark yield has increased more than 30 basis points this quarter, from 6.60% on January 1.

Many dealers no longer expect the yield to fall to the 6.75% level, even if the West Asia war ends, which is the best-case scenario.

The Federal Trade Commission warned four leading payment processors against denying customers access to financial services due to their political or religious views.

The letters, sent by FTC Chair Andrew Ferguson to the chief executives of

Mastercard

MA

decrease; red down pointing triangle, Visa V -3.28%decrease; red down pointing triangle, PayPal PYPL -3.56%decrease; red down pointing triangle and Stripe, cited President Trump’s August executive order on “debanking,” which Ferguson said “makes clear that it is unacceptable to debank law-abiding citizens due to ‘political affiliations, religious beliefs, or lawful business activities.’”

Unknown Executive

To all the people that are today — that are outside the room. Please enter the room. We also welcome those that right now are listening through YouTube and watching through the YouTube channel, we will be starting momentarily.

Very well. So we will begin our assembly. First of all, we invite you to look at the following video that summarizes what — welcome — what Mineros is as a company.

[Presentation]

Unknown Executive

We were born in 1974 with our operation in Colombia. From that beginning, we had as a purpose to generate wellbeing for all through responsible and well-made mining, development and progress stories are stars of a journey, which is built with hard, with tangible facts that convey your commitment to sustainability, more than 50 years of history, learning and achievements that give us legacy of communities, family and the regions where we have presence. According to the new direction of growth that we set back then in 2013, we acquired Hemco in Nicaragua which allowed us to increase annual production and to continue bringing the very best of our mining model to new geographies, with new talent, capabilities and ways of doing things. We continue strengthening our presence in LatAm.

In 2021, we listed in FX, in Toronto, in — being the first company in Colombia to be listed in Toronto. In 2024, Sun Valley Investments enters as the main shareholder, opening a new horizon and new opportunities for growth and learning.

In 2025, we acquired 100% of the La Pepa Project in Chile, a new growth