Lundin Mining Corporation

Good day, and thank you for standing by. Welcome to the Lundeen Mining First Quarter 2026 Financial Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To explore your question, please press star 1 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker for today, Jack Lundin, President and CEO. Please go ahead.

Good morning and welcome to Lundin Mining's Q1 2026 Financial Results. Last night, we reported our financial and operating results for the first quarter. We appreciate your continued interest as we review our performance and key developments from the period. The presentation is available on our website, where a replay is also available. All figures presented are in U.S. dollars from continuing operations, unless otherwise noted. Before starting our call, I ask everyone to read the cautionary statements on this page. Be aware that some of today's remarks will contain forward-looking information and are subject to risks and uncertainties. For more details, please refer to the cautionary statements on slide two and our most recent filings on CDAR. Thank you for your attention as we continue. Joining me today on the call will be Juan Andres Morel, our Chief Operating Officer, and Tyder Polson, our Chief Financial Officer. I am pleased to report that we had a solid start to the 2026 calendar year as reported in these first quarter results. Operationally, we produced approximately 79,900 tons of copper and 31,500 ounces of gold at a consolidated C1 cash cost of $1.66 per pound, keeping us on track with our annual guidance. Our operations generated over $1.1 billion in revenue, $627 million in adjusted EBITDA, and $380 million in free cash flow from operations for the quarter, demonstrating consistency and stability from our asset base. These results strengthened our net cash position, and at the end of the quarter, we had approximately $250 million in cash, net of debt, and excluding lease liabilities. There were a number of corporate events from the quarter, with the key highlights being presented on this slide. A significant milestone, as most on the call would be familiar with, was the results and subsequent filing of the integrated technical study on the Vicuña project. highlighting a tier one asset capable of producing over 500,000 tons of copper and 800,000 ounces of gold at a first quartile C1 cash cost. In March, we hosted a visit with a group of analysts and investors touring both the Vicuña project and the Casaronas operation. The visit highlighted the exceptional potential of the district anchored by the stable high margin Casaronas asset and complemented by the significant long-term growth opportunity across the broader Vicuña district with the Jose Maria and Filo del Sol deposits. During the visit, we announced the acquisition of an additional 5% interest in Casaronas, along with a 31% interest in the adjacent Los Helados project from our partners at JX Advanced Metals. We now have 75% interest in the Casaronas mine. We see considerable synergies and future strategic optionality at Los Salados, and we'll continue to evaluate the project and provide updates to the market throughout the year. I will speak to the regional developments towards the end of this presentation. Year over year, on an attributable basis, we increase the company's copper mineral resources by approximately 115% to over 39 million tons. This includes the 31% interest of the Los Salados project. As we rapidly progress our growth opportunities within our portfolio, we have high conviction in converting these resources into reserves in line with our strategy to feed a pipeline of growth opportunities. A significant driver of this considerable increase was the initial resource estimate generated last year at Vicuña, which incorporated the Filo del Sol deposit and highlighted what is now recognized as the largest copper discovery in the last 30 years. The Vicuña project contains 46 million tons of copper, 97 million ounces of gold and 1.8 billion ounces of silver and is continuing to grow through the drill bit. During the quarter, we finalized the upsizing of our revolving credit facility from 1.75 billion to 4.5 billion, ensuring that we are fully financed for the first stage of the Vicuña project. With our balance sheet in great shape and an expanded credit facility, we're positioned to fund our portion of the project. In line with our shareholder distribution policy, during the quarter, we purchased 1.4 million shares for 40 million US dollars as part of our share buyback program, along with the declaration of our Q1 dividend. Since 2017, we have returned over $1.6 billion to shareholders through dividends and share buybacks. And finally, we filed our inaugural CSRD report under the EU Corporate Sustainability Reporting Directive, providing enhanced disclosure and greater rigor around our key environmental health and safety governance and social commitments. which reinforces our dedication to responsible mining practices. I will now hand the call over to Juan Andres, Chief Operating Officer, to talk about our production results.

Thank you, Jack, and good morning, everyone. We are pleased to report that we had one of the strongest safety performances on record with a TRIF of 0.03 during the quarter, and these coincided with the good operational results from our asset. Copper production for the company was 79,900 tons for the quarter, which is in line with guidance. Gold production for the quarter totaled 31,500 ounces. We expect gold-grade profiles at Candelaria and Chapada to contribute to a stronger second half of the year for gold production and remain on track to guidance. At Candelaria, production was 30,800 tons of copper and 17,700 ounces of gold. Lower grades from mine sequencing in the first quarter combined with approximately three days of unscheduled downtime to complete preventive maintenance on the mill, which impacted production. During the downtime, we took advantage of the opportunity and moved up scheduled maintenance that will improve runtime hours in the second half of the year. Candelaria will be second half of the year weighted with approximately 55% of the production expected in Q3 and Q4. Production at Candelaria is tracking to plan and on target to meet guidance for the year. Cacedones performed well this quarter and produced 38,600 tons of copper. Higher grades from ore sourced from Phase VI contributed to higher production along with high cathode production. Cathode production continues to be strong from higher irrigation rates, improved irrigation patterns, and more material being placed on the dam bleach path. We expect Cacerones to be first half of the year weighted and grades to come down in the second half of the year. Cacerones is also tracking to guidance for the year. Mill throughput at Chapada was high this quarter from higher mechanical availability and softer ore, which offset lower grades. During the quarter, Chapada produced 10,600 tons of copper and 13,800 ounces of gold. Production will also be slightly weighted to the second half of the year, driven by the grades profile at the mine. I will now turn the call over to Tyler to provide a summary on financial results.