Hochschild Regulatory News (HOC)

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23 February 2022

Hochschild Announces Changes to Board of Directors

Hochschild Mining PLC (the "Company") announces certain changes to the composition of the Board of Directors to take effect from the conclusion of the forthcoming Annual General Meeting ("AGM") on 26th May 2022.

Graham Birch and Dionisio Romero will be retiring from the Board, and Mike Sylvestre and Nicolas Hochschild will be appointed to the Board as Independent Non-Executive Director and Non-Executive Director respectively.

Mike Sylvestre is currently the Senior Vice President, Operations, at Kinross Gold Corp and a Non-Executive Director of TSX-listed Nickel Creek Platinum Corp. Prior to joining Kinross, Mike served as a Director and Interim CEO of TSX-listed Claude Resources Inc. Mike spent a significant portion of his career with Vale Canada (formerly Inco Ltd) where he held key senior management positions domestically and internationally. Most notably, he held the position of CEO New Caledonia and President, Manitoba Operations. He previously served as Vice President of Operations for PT Vale Indonesia. Mike holds a M.Sc. and a B.Sc. in Mining Engineering from McGill University and Queen's University, respectively. He is a member of the Professional Engineers of Ontario and a graduate of the Institute of Corporate Directors (ICD) in partnership with the Rotman School of Management.

Nicolas Hochschild, who is the son of the Chair, Eduardo Hochschild, is being appointed to the Board in place of Dionisio Romero as a nominee of the Company's largest shareholder, Pelham Investment Corporation ("Pelham"). Pelham, which is controlled by Eduardo Hochschild, has the right to appoint two Non-Executive Directors to the Board under the terms of the Relationship Agreement for as long as it holds 30% or more of the Company's ordinary shares.

Nicolas is a Mergers & Acquisitions Senior Analyst for Forum Brands, a New-York based e-commerce business. Nicolas holds a B.Sc. in Mechanical Engineering and an M.Sc. in Management Science and Engineering, both from Stanford University.

Changes to Committee Composition

The Company further announces the following changes to the composition of the Company's Board Committees:

- Tracey Kerr will become a member of the Remuneration Committee with effect from 1 March 2022 when Eileen Kamerick will step down from the Committee;

- Tracey Kerr will become a member of the Sustainability Committee on 1 March 2022 and, following Graham Birch's retirement from the Board, will become Chair of that committee;

- Michael Rawlinson will step down from the Sustainability Committee on 1 March 2022; and

- Mike Sylvestre will be appointed a member of the Sustainability Committee and Nomination Committee upon joining the Board.

Eduardo Hochschild, Chairman, said:

"I am delighted to announce Mike's appointment to the Board. He brings over thirty years of management, operations, technical and project experience which will be of huge value as we progress with the recently acquired Posse gold project and the ongoing work at the Snip project in Canada. I am also very pleased to welcome Nicolas to the Board.

I would also like to pay my special thanks as well as those of the Board, to both Dionisio and Graham who, between them, have served for over 14 years. We have benefited greatly from their contributions over the years and wish them both our best wishes for the future." 

In light of the above, Graham Birch and Dionisio Romero will not be standing for re-election at the AGM.

From the conclusion of the AGM, the Hochschild Board will continue to comprise nine Directors of whom six will be independent Non-Executive Directors.

Other than as disclosed above, there are no additional matters to be disclosed under Listing Rule 9.6.13R with respect to the appointments of Mike Sylvestre and Nicolas Hochschild.

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Enquiries:

Hochschild Mining PLC

Raj Bhasin +44 (0)7825 533495

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.

LEI: 549300JK10TVQ3CCJQ89

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