Mr. Ernest Mast reports

PPX MINING PROVIDES UPDATE ON START-UP OF THE PROCESS PLANT

PPX Mining Corp. has established a working group with the Municipality of Huaranchal, representatives of the local communities and the regional government of La Libertad, following recent meetings during which certain concerns and misunderstandings were raised by community members regarding aspects of the project's planned operations. The working group is intended to provide a constructive forum to clarify technical and operational matters, address questions raised by stakeholders, and support a transparent and collaborative path forward for the project. While this decision will result in a delay in the start-up of the process plant currently under construction, the company believes that preserving a constructive partnership with local communities that have hosted the project operations for more than a decade is fundamental to the project's long-term success.

The company's process plant and ancillary infrastructure have been duly approved by the Regional Ministry of Mines, and were designed in accordance with all applicable technical and environmental standards. The project incorporates a geotube-based tailings management system, which eliminates the need for a conventional tailings dam and enables the recycling of process water as part of the operation. These technical aspects are among the matters the company intends to further explain and clarify through the working group process to provide additional comfort to the surrounding communities.

The permitting process for the project was supported by an extensive community engagement program, including public participation forums held in 2018 and 2023 that were attended by community members and local stakeholders, during which no objections to the project were presented. Nevertheless, the company believes it is important to revisit and refresh these technical discussions with the communities to ensure that all stakeholders continue to have a clear and updated understanding of the project's design, environmental safeguards and operating methodologies.

In the interim, ore from the Callanquitas mine will continue to be processed at third party facilities, consistent with current operations. The company expects operating performance to remain in line with recent quarters (see press releases dated Feb. 11, 2026, and May 5, 2026).

No changes to the company's 2026 exploration plans are anticipated.

We seek Safe Harbor.