Hudbay closes $52 million 4.50% bond offering for Copper World

TORONTO, June 24, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today announced that it has completed the previously announced offering of US$52 million in aggregate principal amount of 4.50% Arizona Industrial Development Authority Solid Waste Disposal Revenue Bonds (Copper World LLC Project), Series 2026A (the “Copper World Bonds”). The Copper World Bonds are issued by the Arizona Industrial Development Authority (the “Issuer”) and have an initial mandatory tender date of July 2, 2036. Copper World LLC (“Copper World”) intends to use the gross proceeds of US$52 million of the Copper World Bonds loaned from the Issuer to finance, reimburse and refinance, as applicable, certain eligible expenditures at the Copper World project in Pima County, Arizona, and to finance capitalized interest, if any, and certain other eligible costs associated with the Copper World Bonds.

Pursuant to the terms of the loan agreement (the “Loan Agreement”), Copper World is required to make payments at such times and in such amounts as will provide for the payment of principal and purchase price of, premium, if any, and interests on the Copper World Bonds as the same become due and payable. The obligations of Copper World under the Loan Agreement and with respect to the Copper World Bonds are guaranteed by Hudbay and certain of its subsidiaries, including all of Hudbay’s existing and future subsidiaries that become a guarantor, borrower or issuer in respect of Hudbay’s senior notes. The Copper World Bonds will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction.

Unless they are registered or qualified by a prospectus, the Copper World Bonds may be offered only in transactions that are exempt from registration under the Securities Act or the securities laws of any other jurisdiction. In the United States, the Series 2026A Bonds were offered, and sold, only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act). This press release is neither an offer to sell nor the solicitation of an offer to buy the Copper World Bonds or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Copper World Bonds or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions).