NEXA · Nexa Resources S.A.

Nexa Resources S.A. delivered significantly stronger Q1 2026 results compared to the prior year, with net revenues surging 41% to $888 million from $627 million, primarily driving a gross profit expansion to $272 million and operating income of $208 million versus $54 million in Q1 2025. This performance reflects robust operational execution across its polymetallic mines and zinc smelters in Peru and Brazil. Cost of sales increased but at a slower pace than revenues, contributing to the improved gross margins. Operating expenses remained relatively stable, with selling, general and administrative at $41 million and exploration at $16 million, while an impairment reversal of $1 million provided a small boost. Net financial results showed improvement with financial income and other items partially offsetting higher financial expenses. Income tax expense rose to $86 million but net income reached $118 million, with $89 million attributable to shareholders, translating to EPS of $0.67. Balance sheet remains solid with cash at $390 million down from year-end, total assets stable at $5.3 billion, and debt levels manageable. Cash flow from operations generated $25 million pre-payments but net use was $56 million after interest and taxes. Investing activities reflected $72 million capex, mainly property, plant and equipment. Notably, the company secured a $40 million Export Prepayment Loan on March 4 at 4.69% for 6 months, supporting working capital tied to exports. Dividend distributions continued, including from subsidiary Pollarix to non-controlling interests. No forward guidance provided in the filing.