Ms. Candace Brule reports

HUDBAY ANNOUNCES REPAYMENT OF 2026 SENIOR UNSECURED NOTES

Hudbay Minerals Inc. has repaid in full all of its outstanding 4.50 per cent senior unsecured notes due 2026, which were originally issued in an aggregate principal amount of $600-million. All amounts are in U.S. dollars, unless otherwise noted.

Hudbay repaid the outstanding aggregate principal amount of $472.5-million of 2026 notes on maturity on April 1, 2026, using a combination of available cash on hand and a $272-million draw on its low-cost revolving credit facilities. The repayment of the 2026 notes using available liquidity is consistent with Hudbay's prudent balance sheet management and focus on cost of capital and provides the company with improved financial flexibility in advance of a Copper World sanctioning decision later this year.

About Hudbay Minerals Inc.

Hudbay is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in Tier 1 mining jurisdictions of Canada, Peru and the United States.

Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production and byproduct zinc, silver and molybdenum. Hudbay's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru), and several expansion and exploration opportunities near its existing operations.

The value Hudbay creates and the impact it has is embodied in its purpose statement: "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities." Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.