Mr. Jack Lundin reports

LUNDIN MINING'S CHILE OPERATIONS IMPACTED BY SECOND SEVERE WINTER STORM

Lundin Mining Corp. has provided an update on operations at Caserones and Candelaria following a second winter storm in Chile's Atacama region, which began on Aug. 13 and brought heavy rainfall at lower elevations, along with unusually heavy snowfall and high winds at higher altitudes.

Jack Lundin, president and chief executive officer, commented: "Northern Chile has experienced an unprecedented series of winter storms, with significant impacts on communities across the Atacama region and on our operations at Caserones. The safety of our people remains our highest priority, and I want to thank our employees, contractors and emergency response teams for their dedication and resilience throughout this challenging period.

"Following the first storm, we expected the impact on production to remain within the lower end of our original guidance range. Unfortunately, a second severe storm disrupted recovery efforts and delayed our planned return to full operations, leading to additional unplanned downtime. As a result, we have revised our guidance to reflect the extended recovery period.

"Our teams continue to make strong progress restoring power, repairing infrastructure and reopening access routes, and we remain focused on safely returning Caserones to full production as quickly as possible."

Subsequent to the initial power outage at Caserones from July 18 to July 30, a second outage occurred on Aug. 14. Recent inspections determined severe winds and heavy snowfall redamaged a transmission tower that had been affected by the previous storm. Repair crews have been mobilized, and work is under way to restore the damaged infrastructure. Full power restoration is expected by the end of the week, followed by a gradual and safe ramp-up of operations. In the meantime, backup generators continue to support critical site infrastructure.

The cumulative impact of these weather events has affected the company's full-year outlook at Caserones. As a result, Caserones's 2026 copper production guidance has been revised from 130,000 to 140,000 tonnes to 120,000 to 130,000 tonnes, along with cash cost guidance from $2.05 to $2.25 per pound to $2.15 to $2.35 per pound of copper. The company continues to expect Candelaria to meet its full-year production guidance. Consolidated copper production guidance for the company is now 300,000 to 325,000 tonnes, with cash cost guidance of $1.95 to $2.15 per pound of copper.

About Lundin Mining Corp.

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada, with three operating mines in Brazil and Chile. The company produces metals that underpin global development, supporting infrastructure, electrification, technological innovation and economic resilience. Lundin Mining's strategic vision is to become a top 10 global copper producer. To get there, Lundin Mining 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 the company holds a 50-per-cent interest. Lundin Mining also holds a 31-per-cent interest in the Los Helados project, located adjacent to the company's operating Caserones mine, providing longer-term growth optionality. 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 (symbol: LUN) and Nasdaq Stockholm (symbol: LUMI).

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