Mr. Stephen Williams reports

LUNDIN MINING ANNOUNCES UPDATED SHARE CAPITAL AND PROVIDES UPDATE ON SHARE BUYBACKS

Lundin Mining Corp. has provided an update of its share capital and voting rights in accordance with the Swedish Financial Instruments Trading Act.

The number of issued and outstanding shares of the company has increased by 149,458 to 856,555,834 common shares with voting rights as of Oct. 31, 2025. The increase in the number of issued and outstanding shares from Oct. 1, 2025, to date is a result of the exercise of employee stock options or the vesting of employee share units. During this period, the company did not purchase any shares for cancellation under its normal course issuer bid program.

Normal course issuer bid

Under the company's shareholder distribution policy, the company is committed to allocating up to $150-million (U.S.) in annual share buybacks through the NCIB program. So far during 2025, Lundin Mining has acquired 12,629,000 common shares at a cost of approximately $104-million (U.S.).

About Lundin Mining Corp.

Lundin Mining is a diversified base metal mining company with operations or projects in Argentina, Brazil, Chile and the United States, producing copper, gold and nickel.