Hochschild glossary of terms

Adjusted EBITDA

Adjusted EBITDA is calculated as profit from continuing operations before exceptional items, net finance costs and income tax plus depreciation, amortisation and exploration costs other than personnel and other expenses

Ag

Silver

Attributable after tax profit

Profit for the year before dividends attributable to the equity shareholders of Hochschild Mining plc from continuing operations before exceptional items and after minority interest

Au

Gold

Average head grade

Average ore grade fed into the mill

Board

The board of Directors of the Company

CAD$

Canadian dollars

Capital employed

The aggregate of equity attributable to shareholders, minority interests and borrowings