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TSX: LUN,OTC:LUNMF) (Nasdaq Stockholm: LUMI) Lundin Mining Company (“Lundin Mining” or the “Firm”) broadcasts that the Toronto Inventory Change (the “TSX”) has accepted the discover of Lundin Mining’s intention to resume its regular course issuer bid (the “NCIB”). Until in any other case said, all values offered are in United States {dollars}.
The Firm is dedicated to delivering shareholder returns via a balanced strategy of dividends and share buybacks, with a complete annual allocation of roughly $220 million. As a part of its shareholder distribution coverage (see information launch dated March 26, 2025), the Firm pays a quarterly dividend of C$0.0275 per frequent share of the Firm (the “Frequent Shares”) whereas allocating as much as roughly $150 million each year in share buybacks via the Firm’s NCIB. If the Firm allocates lower than $150 million in share buybacks in a calendar 12 months, the shortfall might be distributed as a particular dividend. If relevant, the particular dividend might be paid alongside the common 4th-quarter dividend.
Below the Firm’s earlier NCIB that commenced on December 16, 2024 and expires on December 15, 2025, the Firm sought and obtained approval from the TSX to accumulate as much as 57,597,388 Frequent Shares. As of December 5, 2025, the Firm acquired 17,474,000 Frequent Shares out there for cancelation at a median worth of C$13.09 per Frequent Share. Such quantity contains the acquisition of 14,229,000 Frequent Shares since January 1, 2025 in accordance with the Firm’s 2025 shareholder distribution coverage.
Regular Course Issuer Bid
The approval of the NCIB permits the Firm to buy as much as 67,723,868 Frequent Shares, representing 10% of the 855,770,029 issued and excellent Frequent Shares as of December 4, 2025, minus these Frequent Shares beneficially owned, or over which management or path is exercised by the Firm, the senior officers and administrators of the Firm and each shareholder who owns or workout routines management or path over greater than 10% of the excellent Frequent Shares, over a interval of twelve months commencing on December 16, 2025. The NCIB will expire no later than December 15, 2026.
All purchases made pursuant to the NCIB might be made on the open market via the amenities of the TSX, different designated exchanges and/or different Canadian buying and selling programs or by such different means as could also be permitted by relevant securities legal guidelines. In accordance with TSX guidelines, any day by day purchases (apart from pursuant to a block buy exemption) on the TSX beneath the NCIB are restricted to a most of 624,337 Frequent Shares, which represents 25% of the typical day by day buying and selling quantity of two,497,350 Frequent Shares on the TSX for the six months ended November 30, 2025. The worth that Lundin Mining pays for Frequent Shares in open market transactions would be the market worth on the time of buy.
In reference to the NCIB renewal, Lundin Mining entered into an computerized share buy plan (“ASPP”) with its designated dealer to permit for the repurchase of Frequent Shares at occasions when the Firm ordinarily wouldn’t be energetic out there attributable to its personal inside buying and selling blackout intervals, insider buying and selling guidelines or in any other case (any such interval being a “Blackout Interval”). Earlier than coming into a Blackout Interval, the Firm could, however isn’t required to, instruct the designated dealer to make purchases beneath the NCIB in accordance with the phrases of the plan. Presently, the Firm has not instructed the dealer to actively repurchase Frequent Shares. Purchases made pursuant to the plan, if any, might be made by the Firm’s designated dealer based mostly upon the parameters prescribed by the TSX, relevant Canadian securities legal guidelines and the phrases of the written settlement entered between the Firm and its designated dealer. Exterior of those Blackout Durations, Frequent Shares might be purchasable by Lundin Mining at its discretion beneath its NCIB.
The ASPP will terminate on the earliest of the date on which: (i) the acquisition restrict beneath the NCIB has been reached; (ii) the NCIB expires; and (iii) the ASPP in any other case terminates in accordance with its phrases. The ASPP constitutes an “computerized plan” for functions of relevant Canadian securities laws and the settlement governing the plan has been pre-cleared by the TSX.
The precise variety of Frequent Shares that could be bought and the timing of such purchases might be decided by the Firm. Choices concerning purchases might be based mostly on market circumstances, share worth, finest use of accessible money, and different components. Any Frequent Shares which can be bought beneath the NCIB might be cancelled.
About Lundin Mining
Lundin Mining is a Canadian mining firm headquartered in Vancouver, Canada with 4 working mines in Brazil, Chile and the USA. We produce commodities that help fashionable infrastructure and electrification. Constructed for development, prepared for alternative, our strategic imaginative and prescient is to develop into a high ten international copper producer. To get there, we’re executing a transparent development technique, which incorporates advancing one of many world’s largest copper, gold, and silver initiatives within the Vicuña District on the border of Argentina and Chile, the place we maintain a 50% curiosity. With a legacy of worth creation within the base metals sector, Lundin Mining has a confirmed monitor file of useful resource development, operational excellence, and accountable growth. We’re dedicated to security, sustainability, and delivering long-term worth for stakeholders. Lundin Mining’s shares commerce on the Toronto Inventory Change (LUN) and Nasdaq Stockholm (LUMI). Study extra at www.lundinmining.com.
The knowledge on this launch is topic to the disclosure necessities of Lundin Mining beneath the EU Market Abuse Regulation. The knowledge was submitted for publication, via the company of the contact individuals set out beneath on December 11, 2024 at 16:00 Pacific Time.
Cautionary Assertion in Ahead-Wanting Info
Sure of the statements made and knowledge contained herein is “forward-looking data” throughout the that means of relevant Canadian securities legal guidelines. All statements apart from statements of historic information included on this doc represent forward-looking data, together with however not restricted to statements with respect to Lundin Mining’s shareholder distribution coverage, together with the cost of quarterly or particular dividends, proposed NCIB, the Firm’s pre-defined plan with its dealer to permit for the repurchase of Frequent Shares and the timing, quantity and worth of Frequent Shares that could be bought beneath the NCIB. Phrases corresponding to “imagine”, “anticipate”, “anticipate”, “ponder”, “goal”, “plan”, “aim”, “goal”, “intend”, “proceed”, “finances”, “estimate”, “could”, “will”, “can”, “might”, “ought to”, “schedule” and related expressions determine forward-looking data.
Ahead-looking data is essentially based mostly upon varied estimates and assumptions together with, with out limitation, the expectations and beliefs of administration; assumed and future worth of copper, zinc, gold, nickel and different metals; anticipated prices; skill to attain objectives; the immediate and efficient integration of acquisitions; that the political atmosphere by which the Firm operates will proceed to help the event and operation of mining initiatives; the Firm will proceed to pay dividends in accordance with its present shareholder distribution coverage; the Frequent Shares will, once in a while, commerce beneath their worth; the Firm will full purchases of Frequent Shares pursuant to the NCIB; and assumptions associated to the components set forth beneath. Whereas these components and assumptions are thought of cheap by Lundin Mining as on the date of this doc in gentle of administration’s expertise and notion of present circumstances and anticipated developments, these statements are inherently topic to important enterprise, financial and aggressive uncertainties and contingencies. Identified and unknown components might trigger precise outcomes to vary materially from these projected within the forward-looking statements and undue reliance shouldn’t be positioned on such statements and knowledge. Such components embrace, however are usually not restricted to: the market worth of the Frequent Shares being too excessive to make sure that purchases profit the Firm and its shareholders; components affecting the cost of dividends; and different dangers and uncertainties, together with however not restricted to these described within the “Dangers and Uncertainties” part of the Firm’s MD&A for the three and 9 months ended September 30, 2025 and the “Dangers and Uncertainties” part of the Firm’s Annual Info Type for the 12 months ended December 31, 2024, which can be found on SEDAR+ at www.sedarplus.ca beneath the Firm’s profile.
All the forward-looking data on this doc are certified by these cautionary statements. Though the Firm has tried to determine necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated, forecasted or meant and readers are cautioned that the foregoing checklist isn’t exhaustive of all components and assumptions which can have been used. Ought to a number of of those dangers and uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes could differ materially from these described in forward-looking data. There may be no assurance that the Frequent Shares will, once in a while, commerce beneath their worth and that the Firm will full purchases of Frequent Shares pursuant to the NCIB, or that dividends will proceed to be paid sooner or later or on the identical phrases at the moment meant by the Firm. Accordingly, there may be no assurance that forward-looking data will show to be correct and forward-looking data isn’t a assure of future efficiency. Readers are suggested to not place undue reliance on forward-looking data. The forward-looking data contained herein speaks solely as of the date of this doc. The Firm disclaims any intention or obligation to replace or revise ahead ‐ trying data or to elucidate any materials distinction between such and subsequent precise occasions, besides as required by relevant legislation.
SOURCE Lundin Mining Company
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