Investor Presentaiton
Cautionary Information
HUDBAY
The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the
forward-looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including
future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of
Hudbay's projects (including risks associated with the economics and permitting of the Rosemont project and related legal challenges), risks related to
the maturing nature of the 777 mine and its impact on the related Flin Flon metallurgical complex, dependence on key personnel and employee and
union relations, risks related to political or social unrest or change, risks in respect of aboriginal and community relations, rights and title claims,
operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure
against all risks, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, compliance with government
and environmental regulations, including permitting requirements and anti-bribery legislation, depletion of Hudbay's reserves, volatile financial markets
that may affect Hudbay's ability to obtain additional financing on acceptable terms, the permitting and development of the Rosemont project not
occurring as planned, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the
geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain
costs of reclamation activities, the company's ability to comply with its pension and other post-retirement obligations, Hudbay's ability to abide by the
covenants in its debt instruments and other material contracts, tax refunds, hedging transactions, as well as the risks discussed under the heading
"Risk Factors" in the company's most recent Annual Information Form.
Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could
vary materially from those expressed or implied in the forward-looking information. Accordingly, you should not place undue reliance on forward-
looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this presentation or
to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
This presentation has been prepared in accordance with the requirements of the securities laws in effect in Canada, which may differ materially from
the requirements of United States securities laws applicable to U.S. issuers.
This presentation contains certain financial measures which are not recognized under IFRS, such as operating cash flow per share, net debt, cash
costs, sustaining cash cost, and all-in sustaining cash cost, net of by-product credits, per pound of copper produced. For a detailed description of each
of these non-IFRS financial performance measures used in this presentation, please refer to page 40 of Hudbay's management's discussion and
analysis for the three months and year ended December 31, 2016 available on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
All amounts are in US dollars unless otherwise noted.
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