Ms. Candace Brule reports

HUDBAY ANNOUNCES PRICING FOR US$52 MILLION OF MUNICIPAL BONDS FOR COPPER WORLD AT 4.50%

Hudbay Minerals Inc. has priced an offering of $52-million (U.S.) in aggregate principal amount of 4.50 per cent Arizona Industrial Development Authority solid waste disposal revenue bonds (Copper World LLC project) Series 2026A. The Copper World bonds will be issued by the Arizona Industrial Development Authority and will have an initial mandatory tender date of July 2, 2036. The issuer will lend the gross proceeds of $52-million (U.S.) to Copper World to finance, reimburse and refinance, as applicable, certain eligible expenditures at the Copper World project in Pima county, Arizona, and to finance capitalized interest, if any, and certain other eligible costs associated with the Copper World bonds. Pursuant to the terms of the loan agreement, Copper World will be required to make payments at such times and in such amounts as will provide for the payment of principal and purchase price of, premium, if any, and interest on the Copper World bonds as the same become due and payable. The obligations of Copper World under the loan agreement and with respect to the Copper World bonds will be guaranteed by Hudbay and certain of its subsidiaries, including all of Hudbay's existing and future subsidiaries that become a guarantor, borrower or issuer in respect of Hudbay's senior notes.

The Copper World bonds transaction is expected to close on June 24, 2026, subject to customary closing conditions.

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 Cactus project in Arizona (U.S.), the Mason project in Nevada (U.S.), 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 are 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.

We seek Safe Harbor.