Hochschild Regulatory News (HOC)

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26 November 2021

Update statement on AGM voting results

In accordance with the UK Corporate Governance Code, Hochschild Mining PLC (the "Company") provides an update with regards to the level of votes cast at the AGM against Resolution 2 (the approval of the 2020 Directors' Remuneration Report) and Resolution 11 (the re-election of Dionisio Romero Paoletti as a Non-Executive Director).

2020 Directors' Remuneration Report ("DRR")

The voting on the 2020 DRR reflected investors' concerns on the partial restatement of annual bonus objectives during the year which was considered necessary by the Remuneration Committee in light of the level of operational disruption caused by the Covid pandemic.  

Despite the extraordinary circumstances prompting the restatement, the Committee welcomes investors' views on any aspect of executive remuneration at Hochschild Mining and has therefore initiated an open engagement programme with significant shareholders and leading proxy agencies. The Committee has received feedback from a number of investors under this programme which will continue into 2022.

Re-election of Dionisio Romero Paoletti

As in previous years, the voting on Mr Romero's re-election reflected investors' concerns with regards to his availability and commitment to the Company in light of the number of other directorships that he holds.

The Board has received reassurances of Mr Romero's ongoing availability and commitment to the Company noting that he retired from the board of Lima-listed Banco de Credito del Peru in April 2021 and that he recently stepped down from the board of Ransa Comercial S.A.. Taking this into account and the fact that Mr Romero acts as a nominee director of the Company's largest shareholder under a Relationship Agreement, the Directors have concluded that the Company continues to benefit from Mr Romero's business experience in Latin America and also of his knowledge of corporate finance.

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Enquiries:

Hochschild Mining PLC

Raj Bhasin +44 (0)20 3709 3263

Company Secretary

Hudson Sandler

Charlie Jack +44 (0)20 7796 4133

Public Relations

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About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

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LEI: 549300JK10TVQ3CCJQ89

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