Nexa Reports Third Quarter 2020 Results and Adjusted EBITDA of US$152 Million

Nexa Resources S.A. (“Nexa Resources” or “Nexa” or the “Company”) (NYSE: NEXA) (TSX : NEXA) has published its 3Q20 Results.

CEO Message – Tito Martins

“The COVID-19 outbreak remains a concern. In recent weeks, some regions have started to see an increase in the number of cases, which could result in additional restrictions from local governments to combat the spread of the virus. Governments and businesses around the world are still learning how to adapt to this new reality without jeopardizing the recovery of the global economy.

The health and safety of our employees, third-party contractors and our host communities continues to be our highest priority. International benchmark procedures to mitigate the spread of COVID-19 remain in place throughout all of our operations and projects.

We have delivered a strong quarter despite this challenging environment. Our team’s commitment, together with the business continuity measures that have been adopted since the beginning of the pandemic, coupled with the Nexa Way continuous improvement program have enabled us to achieve such performance.

In Peru, mining operations gradually ramped up during the quarter, following government-mandated closures, and are operating at normal levels. In Brazil, we recorded another solid quarter. Nexa’s smelters have also been operating at normal capacity utilization rates.

In terms of our project pipeline, we have recently provided an update on the Aripuanã project. The project is progressing according to the updated plan and we have undertaken different actions to mitigate further risk, such complete the acquisition of all the critical equipment with about 70% of this equipment already on the site. The operational readiness team has been mobilized to the site.

We have also updated our capital allocation strategy and project pipeline timeline has also been revised in light of the current circumstances and our commitment to delivering growth with capital discipline. We remain optimistic about the long-term prospects for zinc and copper, and after Aripuanã starts to generate cash we intend to have a further investment discussion on the Magistral project, which as of today is the most advanced project in our pipeline.

Our balance sheet remains solid and we have proactively adopted measures to continue to strengthen our business and protect our people, contractors and host communities. Nexa has a unique portfolio of assets in Latin America and we believe we are on the right path to building the mining of the future.”