Nexa Resources S.A.

Condensed consolidated interim financial statements (Unaudited)

at and for the three months ended on March 31, 2025

Contents

Condensed consolidated interim financial statements

Notes to the condensed consolidated interim financial statements

Nexa Resources S.A.

Condensed consolidated interim income statement

Unaudited

Three months ended on March 31

All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.

Condensed consolidated interim statement of comprehensive income

Unaudited

Three months ended on March 31

All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.

Condensed consolidated interim balance sheet

Unaudited

Three months ended on March 31

All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.

Condensed consolidated interim statement of cash flows

Unaudited

Three months ended on March 31

All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.

Condensed consolidated interim statement of of changes in shareholders’ equity

Unaudited

Three months ended on March 31

All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A. (“NEXA” or “Parent Company”) is a public limited liability company (société anonyme) incorporated and domiciled in the Grand Duchy of Luxembourg. Its shares are publicly traded on the New York Stock Exchange (“NYSE”).

The Company’s registered office is located at 37A, Avenue J. F. Kennedy in the city of Luxembourg in the Grand Duchy of Luxembourg.

NEXA and its subsidiaries (the “Company”) operate large-scale, mechanized underground and open pit mines, as well as smelters. The Company owns and operates three polymetallic mines in Peru and two polymetallic mines in Brazil. Additionally, the Company owns and operates a zinc smelter in Peru and two zinc smelters in Brazil.

NEXA’s majority shareholder is Votorantim S.A. (“VSA”), which holds 64.68% of its equity. VSA is a Brazilian privately-owned industrial conglomerate that holds ownership interests in metal, steel, cement, and energy companies, among others.

In January 2025, the Company paid USD 18,300 related to uncertain income tax position of Nexa Peru 2018 (for further details see note 8 (c)) and USD 23,992 related to uncertain income tax position of Nexa CJM 2017. Both payments were made to obtain penalty and interest reductions and the likelihood of loss for both proceedings is considered possible. Such payments do not represent a recognition of the tax debt, and the Company will proceed with its legal defense before the applicable instances. These payments were recognized as “judicial deposits and other tax claim payments” within “other assets in the long-term”.

A provision may be recorded against such amounts if the likelihood of loss of said proceedings turns out to be probable. Additionally, the payments could be recovered in cash if the Company´s defenses prevail or compensated with other tax debts.

On February 20, 2025, the Company’s Board of Directors recommended, subject to approval at the Company’s Annual General Meeting expected to be held on or around May 8, 2025, a cash distribution to shareholders of approximately USD 13,400, expected to be paid on June 24, 2025, as share premium reimbursement, in accordance with the dividend policy effective in January 2025.

On March 28, 2025, Nexa Resources Peru S.A.A approved the distribution and payment of dividends totaling USD 100,000. Nexa CJM is entitled to receive USD 82,432 for its shares, Nexa Resources S.A. will receive USD 179, and the non-controlling interest is entitled to USD 17,389. Payments will be made in two equal installments of USD 50,000 each, based on the ownership percentage of each shareholder on the payment date. Payments are expected to be made on April 30, 2025, and September 30, 2025.

On March 31, 2025, Pollarix’s Board of Directors approved the distribution and payment of dividends totaling USD 3,309 (BRL 19,378), related to the 2024 earnings. Nexa BR is entitled to USD 680 (BRL 3,896) for common shares, and the non-controlling interest is entitled to USD 2,629 (BRL 15,391) for preferred shares. These payments are expected to be made by December 31, 2025. During the first quarter of 2025, Nexa Resources Peru S.A.A paid USD 329 in dividends to non-controlling interests related to previous periods.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

On January 15, 2025, Nexa El Porvenir paid USD 3,453 for the acquisition of Atacocha´s 364,668 thousand shares (25,112 thousand class A common shares and 339,556 thousand class B common shares) and non-controlling shareholders paid USD 1,864 for the acquisition of Atacocha´s 221,117 thousand shares (223 thousand class A common shares and 220,894 thousand class B common shares). The subscription and payment process for the shares related to the capital increase through new monetary contributions by Nexa Atacocha approved on November 18, 2024, was completed and 100% of the Class A shares and Class B shares, representing 1,203,513 and 979,353, thousands respectively, were fully subscribed. Nexa El Porvenir subscribed for its portion of the new shares in December 2024, while non-controlling shareholders completed their subscription in January 2025. Consequently, as of December 31, 2024, Nexa El Porvenir recognized a loss as a result of this capital increase, considering Atacocha’s negative equity value.

In the first quarter of 2025, following the non-controlling shareholders’ subscription, the Company recorded a gain of USD 1,024 in equity attributable to owners of the controlling interest, reflecting a new capital disproportion and a corresponding loss for non-controlling interests.

Additionally, during the first quarter of 2025, Nexa El Porvenir paid USD 11 to acquire an additional 1,043 thousand class B common shares of Nexa Atacocha, representing a 0.03% stake. However, given Atacocha´s negative equity value, the transaction resulted in a gain of USD 8 for the non-controlling interests, totaling a loss of USD 19 for Nexa El Porvenir.

In summary, after these transactions, Nexa’s participation in Nexa Atacocha decreased from 86.65% on December 31, 2024, to 82.11%, with a gain of USD 1,005 in equity attributable to the owners of the controlling interest and a loss of USD 1,016 in equity attributable to non-controlling shareholders.

In January 2025, the subsidiary Nexa Peru acquired 100% of the equity interest in a new subsidiary, Votorantim CSC S.A.C., a provider of shared administrative, tax, and accounting services, from its majority shareholder Votorantim S.A. The acquisition included a net asset value of USD 949, with a purchase price of USD 924, resulting in a gain of USD 25 recognized in profit or loss. The transaction had a net cash effect of USD 997, calculated as the difference between the cash and cash equivalents of the acquired subsidiary and the amount paid at the acquisition date.

On April 2, 2025, the US president issued an Executive Order regulating imports through a reciprocal tariff mechanism which involved additional tariffs on approximately 90 nations. Under this order, a 10% customs duty was imposed on goods imported into the U.S. from all countries, with duties of up to 50% on imports from specific countries. These measures were enacted pursuant to the International Emergency Economic Powers Act (IEEPA).

This recent imposition of tariffs by the United States, along with possible retaliatory measures by some other countries, may introduce additional volatility to global trade and, consequently, to the market prices of our products in 2025 and the near future, among other effects. The Company is actively monitoring the situation but cannot yet estimate the impact of these measures on its operations and results.

Moreover, ongoing international trade tensions may heighten the risk of a global economic recession, potentially leading to reduced demand for commodities and downward pressure on commodity prices. The uncertainty surrounding the potential effects of such tariffs represents a significant risk that could materially and adversely affect the Company’s business and results of operations, and consequently its financial performance.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Segment performance is assessed based on Adjusted EBITDA, since net financial results, comprising financial income and expenses and other financial items, and income tax are managed at the corporate level and are not allocated to operating segments.

The Company defines Adjusted EBITDA as follows: net income (loss) for the year/period, adjusted by (i) share in the results of associates, depreciation and amortization, net financial results and income tax; (ii) addition of cash dividends received from associates; (iii) non-cash events and non-cash gains or losses that do not specifically reflect its operational performance for the specific period, such as: gain (loss) on sale of investments; impairment and impairment reversals; gain (loss) on sale of long-lived assets; write-offs of long-lived assets; remeasurement in estimates of asset retirement obligations; and other restoration obligations; and (iv) pre-operating and ramp-up expenses incurred during the commissioning and ramp-up phases of greenfield projects. In addition, management may adjust the effect of certain types of transactions that in its judgments are (i) events that are non-recurring, unusual or infrequent, and (ii) other specific events that, by their

nature and scope, do not reflect Nexa’s operational performance for the year/period.

The adjusted EBITDA is derived from internal information prepared in accordance with the International Financial Reporting Standards (“IFRS Accounting Standards”) and based on accounting measurements and management reclassifications between income statement lines items, which are reconciled to the consolidated financial statements in the column “Adjustments”, as shown in the tables below. These adjustments include reclassifications of certain overhead costs and revenues from “Other income and expenses, net” to “Net Revenues, Cost of sales and/or Selling”, “General and administrative expenses”.

The Company uses customary market terms for intersegment sales. The Company’s corporate headquarters expenses are allocated to the operating segments to the extent they are included in the measures of performance used by the Chief operating decision maker (CODM).

The presentation of segments results and reconciliation with income before income tax in the consolidated income statement is as follows:

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) This amount represents the change in the fair value of the offtake agreement described in note 10 (e), which is being measured at Fair value through profit or loss (“FVTPL”). This change in fair value is a non-cash item and has not been considered in the Company’s Adjusted EBITDA calculation.

(ii) The fair value adjustment of the energy surplus resulting from electric energy purchase contracts of NEXA’s subsidiary, Pollarix, as disclosed in note 10 (d). This change in fair value is a non-cash item and has not been considered in the Company’s Adjusted EBITDA calculation.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

These condensed consolidated interim financial statements as at and for the three months ended on March 31, 2025, have been prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (“IAS 34”) using the accounting principles consistent with the ® IFRS Accounting Standards, as issued by the International Accounting Standards Board (“IASB”).

The Company made a voluntary election to present, as supplementary information, the condensed consolidated interim statement of cash flows for the three-month periods ended on March 31, 2025, and 2024. The Company is also presenting a condensed consolidated interim statement of changes in shareholders’ equity for the three-month period ended on March 31, 2025, and 2024 in accordance with SEC Final Rule Release No. 33-10532, Disclosure Update and Simplification.

These condensed consolidated interim financial statements do not include all disclosures required by the IFRS Accounting Standards for annual consolidated financial statements and accordingly, should be read in conjunction with the Company’s audited consolidated financial statements for the year ended on December 31, 2024, prepared in accordance with the IFRS Accounting Standards as issued by the IASB.

These condensed consolidated interim financial statements have been prepared on the basis of, and using the accounting policies, methods of computation and presentation consistent with those applied and disclosed in the Company’s audited consolidated financial statements for the year ended on December 31, 2024.

The Company has not early adopted any new standards, interpretations or amendments that have been issued but are not yet effective.

The preparation of these condensed consolidated interim financial statements in accordance with IAS 34 requires the use of certain critical accounting estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses for the end period. Such estimates and assumptions mainly affect the carrying amounts of the Company’s goodwill, contractual obligations, non-current assets, indefinite-lived intangible assets, inventory, deferred income taxes, and the allowance for doubtful accounts. These critical accounting estimates and assumptions represent approximations that are uncertain and changes in those estimates and assumptions could materially impact on the Company’s condensed consolidated interim financial statements.

The critical judgments, estimates and assumptions in the application of accounting principles during the three months ended on March 31, 2025, are the same as those disclosed in the Company’s audited consolidated financial statements for the year ended on December 31, 2024.

These condensed consolidated interim financial statements for the three months ended on March 31, 2025, were approved on April 29, 2025, to be issued in accordance with a resolution of the Board of Directors.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

During the third quarter of 2024, the Company identified an error in the previously issued consolidated financial statements for the years ended December 31, 2023, and 2022 related to the recognition of contracts containing lease arrangements. The error resulted in the non-recognition of right-of-use assets and lease liabilities, as well as the misstatement of costs and expenses that should have been recognized through the amortization of right-of-use assets and interest expense on lease liabilities, instead of being recorded as costs and operational expenses related to third-party services.

The Company revised the comparative information for the first quarter of 2024 to reflect the adjustments and the revisions through the recognition of right-of-use assets of USD 62,539 and lease liabilities of USD 68,332 in the Company’s consolidated balance sheet as of January 1st, 2024, as well as the corresponding impacts on the financial statements as of March 31, 2024.

The following tables present the adjustments and the revised figures to the previously issued condensed consolidated interim financial statements.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

(i) Gross billing increased in the three-month period ended on March 31, 2025, compared to the same period in 2024 mainly due to higher metal prices and increased smelter sales volume.

(i) During the first quarter of 2025, the Company recognized USD 2,888 in Cost of sales related to idle capacity cost in Juiz de fora due to the temporary shutdown of an emissions control system. For March 31, 2024, the Company recognized an amount of USD 19,295 (including depreciation of USD 5,135) related to the idleness of Aripuanã mine and plant capacity incurred during the ramp-up phase and USD 1,599 in El Porvenir due to the suspension of the mine for some days.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) The amounts for the three-month period ended in March, 31 2025, are mainly due to exchange variation on the outstanding USD accounts receivable and payable of Nexa BR with Nexa, intercompany loan between Nexa BR and its related parties, for which the exchange variation is not eliminated in the consolidation process, and loans in foreign currency. These transactions were affected by the volatility of the Brazilian Real (“BRL”), which appreciated against the USD during 2025 (after depreciating during 2024).

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) On December 11, 2024, the Luxembourg Parliament approved a reduction in the aggregate corporate income tax rate from 24.94% to 23.87%, effective for the year 2025. As NEXA’s standalone net operating losses do not meet the recognition criteria, deferred tax assets were not recognized. As a result, the tax rate reduction has no impact on the consolidated interim income statement.

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As of March 31, 2025, the main legal proceedings are related to: (i) the interpretation of the application of the Cerro Lindo's stability agreement; (ii) litigation of transfer pricing adjustments over transactions made with related parties; and (iii) the deductibility of certain costs and expenses.

The estimated amount of these contingent liabilities as of March 31, 2025, was USD 392,505, a decrease from the USD 430,567 reported as of December 31, 2024, mainly due to: (i) the withdrawal of the amounts related to the 2017 and 2018 uncertain income tax positions of Nexa El Porvenir and Nexa Atacocha, following Nexa’s decision to join SUNAT’s Tax Amnesty Program and pay USD10,871 in the first quarter of 2025 to obtain reductions on penalty and interests; and (ii) partial reduction of the amounts of uncertain income tax positions of Nexa CJM 2017 and Nexa Peru 2018, considering that Nexa opted to make payments in the first quarter of 2025 also to obtain reductions on penalty and interests, for further information, please see the note 1.1 (a).

Regarding the Cerro Lindo´s stability agreement, SUNAT issued unfavorable rulings for the 2014-2017 periods, arguing that the stabilized income tax rate, granted under the stability agreement applies only to the income generated from production of 5,000 tons per day, rather than from the Company’s entire production capacity, which expanded over time. The Company has appealed these decisions and may turn to the judiciary if an unfavorable outcome is received at the final administrative level. SUNAT is currently auditing the 2019 and 2020 tax years, while the 2021 audit remains pending (when the term of the stability agreement expired).

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

In the fourth quarter of 2024, SUNAT completed its audit of the 2018 tax period, recognizing that part of the income generated from production in such a year was stabilized. In January 2025, Nexa’s management opted to pay USD 18,300 to obtain a 60% reduction in penalties and interests. However, these payments do not constitute an acknowledgment of liability for the tax debt and the Company will continue its legal defense within the applicable instances.

NEXA is within the scope of the OECD Pillar Two model rules which establish a new global minimum tax framework of 15% minimum tax. Pillar Two legislation was enacted in Luxembourg and in Brazil, already in effect for financial year beginning January 1, 2024, and January 1, 2025, respectively. However, no legislation regarding Pillar Two has been enacted in Peru yet.

The Company performed an assessment of the group’s potential exposure to Pillar Two income taxes by running initial testing under the OECD transitional safe harbor rules based on the most recent information available on tax filings, country-by-country reporting and financial statements for the constituent entities in the group. Based on the assessment performed, the jurisdictions where the Company operate qualify for at least one of the transitional safe harbor rules and management is not currently aware of any circumstances under which this might change. Therefore, the Company does not expect potential exposure to Pillar Two top-up tax.

The Company’s financial assets and liabilities are classified as follows:

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) Classified as “Other assets” in the consolidated balance sheet.

(ii) Classified as “Other liabilities” in the consolidated balance sheet.

(i) To determine the fair value of the investments in equity instruments, the Company uses the share’s quotation as of the last day of the reporting period.

(ii) Loans and financings are measured at amortized cost, except for certain contracts for which the Company has elected the fair value option.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) On March 28, 2025, Nexa executed a cross-currency swap transaction with a notional amount of USD 112,652 (BRL 650,000 at the transaction date) to hedge the BRL exposure related to Nexa BR debentures issued on April 2, 2024, in the same amount in BRL. The swap mirrors the interest and principal payment terms of the debentures, which mature on March 28, 2030, with semiannual payments. Under the swap agreement, Nexa will make semi-annual payments of 6.209% on the USD notional amount and will receive CDI + 1.50% p.a. floating on the BRL notional. This instrument is recognized at FVTPL (net financial results).

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) Since June 2023, the Company is delivering copper concentrates under an offtake agreement with an Offtaker signed in January 2022 (amended in July 2023) to sell 100% of the copper concentrate produced by Aripuana for 5 years or until Nexa fulfills the delivery of the outstanding volume, and which is scheduled to be achieved by the Company on the third quarter of 2028, based on the most updated schedule of copper concentrates deliveries. The transaction price agreed with the offtaker is the lower of the current market prices or a price cap.

(ii) During 2025 and 2024, there were sales with the copper price higher than the price cap, therefore resulting in the reduction of the financial instrument liability for these sales, and the revenue recognition according to its fair values.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i) Finished products increased during the three-month period ended March 31, 2025, mainly due to commercial strategies and inventory recovery in Brazil. This was partially offset by lower concentrate inventories in Peru, resulting from reduced ore processing and higher sales volumes.

(ii) Semi-finished products increased in the three-month period ended March 31, 2025, mainly due to the postponement of scheduled maintenance activities, which are now planned for later this year, and increased mineral production in Peru.

(iii) Inventory provisions increased in the three-month period ended on March 31, 2025, mainly due to provision for obsolescence of materials used in maintenance activities in Brazil.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

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(i)The negative balances refer to related funding costs (fee) amortization.

The Company has loans and financings that are subject to certain financial covenants at a consolidated level, including: (i) leverage ratio; (ii) capitalization ratio; and (iii) debt service coverage ratio. When applicable, these compliance requirements are standardized across all debt agreements.

As of December 31, 2024, the Company was not in compliance with one of the financial covenants under its BNDES loan agreements, specifically of the capitalization ratio, which is annually measured as Equity/Total Assets, and must be equal to or greater than 0.3. As a remediation action, the Company obtained bank guarantees prior to December 31,2024 for the total outstanding balances. The non-compliance was primarily due to accumulated losses over the last three years, impairment losses, one-off events, and the negative impacts of the prolonged ramp-up phase of Aripuanã.

On February 19, 2025, the Company obtained a formal waiver for this covenant measurement, therefore the covenant testing and any associated early repayment rights have been waived with respect to the financial statements of 2024 until the next measurement that will occur in the year 2026 for the fiscal year ending on December 31, 2025.

As of March 31, 2025, although management is aware that the financial ratio remains below the covenant threshold, this does not constitute a breach, as no contractual requirement exists for a quarterly covenant measurement that could trigger an event of default based on the consolidated interim financial statement. Accordingly, the loan has been classified as a non-current liability in these consolidated interim financial statements as of March 31, 2025.

The Company remains committed to implementing measures to ensure compliance with all financial covenants going forward. These measures include a review of the capital structure, initiatives to enhance operational performance, and efforts to reduce risk exposure. Except for the BNDES-related discussion above, there were no material changes to contractual guarantees during the period ending on March 31, 2025.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

(i) As of March 31, 2025, the credit risk-adjusted rate used for Peru was between 10.76% and 12.21% (December 31, 2024: 3.39% and 12.29%) and for Brazil was between 7.61% and 9.93% (December 31, 2024: 4.02% and 8.51%). As of March 31, 2024, the credit risk-adjusted rate used for Peru was between 11.05% and 14.65% (December 31, 2023: 10.86% and 12.52%) and for Brazil was between 6.67% and 9.17% (December 31, 2023: 6.94% and 11.11%).

(ii) The changes observed in the period ended March 31, 2025, were mainly due to the revision of expected disbursement timelines related to decommissioning obligations in certain operations, in accordance with updates in their asset retirement and environmental obligations studies, along with increases in discount rates, as described above. As a result, asset retirement obligations for operational assets decreased by USD 3,327 (March 31, 2024: increase of USD 2,831), as shown in note 12. Additionally, expenses for asset retirement and environmental obligations for non-operational assets totaled USD 933 (March 31, 2024: loss of USD 4,591) as detailed in note 6.

According to NEXA’s policy, the company assesses at each reporting date whether there are indicators that the carrying amount of an asset or CGU may not be recoverable, or if a previously recorded impairment should be reversed. If any indicator exists, the Company estimates the assets or CGU’s recoverable amount. As of March 31, 2025, no impairment tests were required based on this assessment.

Additionally, as of March 31, 2025, the company recognized an impairment loss of USD 297 related to other individual assets, mainly classified under “Assets and projects under construction”. As of March 31, 2024, the Company recognized an impairment reversal of USD 17,219 composed of USD 16,216 for the Morro Agudo CGU and USD 1,003 related to other individual assets.

On February 8, 2024, the Peruvian Government approved an extension of the deadline for the Accreditable Investment Commitment under the Magistral Transfer Contract from September 2025 to August 2028. As of December 31, 2024, the unexecuted Accreditable Investment Commitment totaled USD 323,000. If it is not completed by August 2028, the Company could face a potential penalty of up to USD 97,029.

Nexa Resources S.A.   Notes to the condensed consolidated interim financial statements Unaudited Three months ended on March 31 All amounts in thousands of US Dollars, unless otherwise stated

In December 2021, the Company submitted a request for the Modification of the Environmental Impact Assessment (MEIA) for the Magistral Project to the National Environmental Certification Agency (SENACE), through the applicable legal process. During the approval process, the Peruvian Water Authority (ANA) and the Protected Natural Areas Service - (SERNANP) raised unfavorable observations. On May 24, 2024, SENACE formally rejected the MEIA.

As stipulated in the contract, the Company is currently engaged in direct negotiations with the relevant authorities to evaluate the impact of this situation on the execution of the Project and expects to reach a resolution in the coming months.

On December 30, 2023, the State of Minas Gerais published Decree 48,747 of 2023, which regulates the environmental guarantee requirements as provided for in Law 23,291 of February 25, 2019 (the State Policy for Dam Safety). This guarantee aims to ensure environmental recovery in the event of an accident or deactivation of dams and applies to all dams with the characteristics established by the law.

In the second quarter of 2024, the Decree was amended to modify, among other provisions, the deadline for mining companies to indicate the type(s) of guarantee method(s) they would use. The Company complied with this requirement in September 2024. The amendment also established that mining companies must present 50% of the chosen guarantees by the end of 2024.

Nexa’s obligation is to provide a guarantee in the amount of approximately USD 21,151 (BRL 121,455). As of December 2024, the Company provided 50% of this amount - approximately USD 10,576 (BRL 60,728) - for all its structures in Minas Gerais through bank guarantees. The remaining 25% is expected to be submitted by the end of December 2025, and the final 25% by the end of 2026, in line with the Decree established timeline.

However, on December 31, 2024, a new Decree was published, further amending the text of Decree 48,747/2023. This latest amendment stipulates that the deadline for submitting guarantees will only begin once the environmental agency approves the Company’s proposal. Since this new Decree was published after Nexa submitted its guarantees, the Company must now wait for the environmental agency's analysis to address any requirements before proceeding with full compliance.

On April 08, 2025, the Company completed a bond offering in the amount of USD 500,000, with a 12-year maturity and an annual interest rate of 6.60%, payable semi-annually. The proceeds were primarily used to repurchase portions of the Company’s 2027 and 2028 notes through concurrent tender offers. On April 09, 2025, the Company repurchased an aggregate principal amount of USD 104,987, representing 48.72% of the outstanding principal amount of the 2027 Notes, via a tender offer for any and all of its outstanding 2027 Notes. Additionally, the Company repurchased an aggregate principal amount of USD 289,483, representing 72.28% of the outstanding principal amount of the 2028 Notes, via a tender offer for a portion of those Notes. Following the tender offers, USD 110,513 of the 2027 Notes and USD 111,017 of the 2028 Notes remain outstanding. The remaining 2027 notes are expected to be fully redeemed via a make-whole call, set to be executed on May 23, 2025, as announced on April 23, 2025.

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