FRESNILLO PLC. FOURTH QUARTER PRODUCTION REPORT

FOR THE THREE MONTHS ENDED 31 DECEMBER 2022

Octavio Alvídrez, Chief Executive Officer, said:

“Fresnillo reports a solid operating result in the fourth quarter, with full year production in line with our guidance. In particular silver output was driven by a strong performance from our Fresnillo mine which is showing consistent improvement and the continued contribution of our new Juanicipio project offsetting the expected lower grades at San Julián. During the year we have worked hard to minimise the impact of a very tight labour market and to mitigate the impact of the labour reform in Mexico. Our recruitment and training campaigns are now complete and the mines are well staffed for 2023. A key highlight in the fourth quarter was the successful tie-in to the national electricity grid of our new Juanicipio mine. Commissioning is ongoing and we expect a gradual ramp up in the coming months. We very much look forward to seeing this major new project deliver on its potential, making a sizeable addition to our overall production for many years to come.”

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