Mr. Stephen Williams reports

LUNDIN MINING ANNOUNCES UPDATED SHARE CAPITAL

Lundin Mining Corp. has provided the following update on 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 20,386 to 854,367,977 common shares with voting rights as of Jan. 30, 2026. The increase in the number of issued and outstanding shares from Dec. 31, 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.

About Lundin Mining Corp.

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada, with three operating mines in Brazil and Chile. It produces commodities that support modern infrastructure and electrification. Its strategic vision is to become a top-10 global copper producer. To get there, it is executing a clear growth strategy, which includes advancing one of the world's largest copper, gold and silver projects in the Vicuna district on the border of Argentina and Chile, where it holds a 50-per-cent interest. Lundin Mining has a proven record of value creation through resource growth, operational excellence and responsible development. The company's shares trade on the Toronto Stock Exchange (LUN) and Nasdaq Stockholm (LUMI).