Investor Presentaiton

Rosemont Project 80%-OWNED1 COPPER PROJECT High-quality development project with well- established infrastructure • Permitting and community engagement progressing • $20 million expected to be spent in 2017 to advance project Expected to be one of the first new copper projects to be built once copper prices and capital market conditions improve HUDBAY 1. Hudbay's ownership in the Rosemont project is subject to an earn-in agreement with United Copper & Moly LLC ("UCM"), a Korean consortium, pursuant to which UCM has earned a 7.95% interest in the project and may earn up to a 20% interest. CRUSHER AREA OF THE ROSEMONT PROJECT (LOOKING EAST) 15

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