FRES Fresnillo Plc

                                                                                                        Fresnillo plc

21 Upper Brook Street

London W1K 7PY

United Kingdom

www.fresnilloplc.com

 5 March 2024

Fresnillo plc - Board and Committee Changes

Fresnillo plc (the "Company") announces that Ms Luz Adriana Ramírez and Ms Rosa Vázquez will be proposed for election as Independent Non-executive Directors of the Company at the Annual General Meeting (AGM) to be held on 21 May 2024 AGM. If they are elected as directors, their respective appointments will take effect from the conclusion of the AGM.

Ms Ramírez is currently Managing Director / Country Manager of VISA in Mexico. She has more than 30 years of experience in commercial, consumer and industrial finance, as well as a further seven years in the industrial businesses sector early on in her career.

Ms Ramírez has been one of Forbes Mexico "100 Most Powerful Women in Mexico" for the last eight consecutive years. Bloomberg Online considers her one of "The 500" most influential people in Latin America; Expansión business magazine has included her in its edition of the "100 Powerful Women in Business" for the last three years and Mexican Leaders publication considered her in their list of "Women out of Series".

Ms Ramírez has served as an independent director on the board of directors of Fibra Mty S.A.P.I. de C.V. (FMTY14) since 2020 and is a member of its Audit Committee. She is also on the board of directors of the American Chamber of Commerce of Mexico (AMCHAM) and is also Vice President for the Mexican Association of Executive Women (AMME). In addition, during her career, Ms Ramírez has served as Vice President in the committee of the Executive Council of Global Companies (CEEG) for six consecutive years. She worked for 18 years at General Electric, within various businesses in the industrial, corporate and financial areas. Ms Ramírez is a dynamic senior executive who will bring a successful career across multiple industries. She is a strong leader, motivating teams to deliver on strategy and objectives.

Ms Ramírez holds a degree in Chemical Engineering from the Universidad de LaSalle and an MBA from the Universidad de Nuevo Leon.

Ms Vázquez 30-year professional career was forged in DuPont and continuing with The Chemours Company after the spin-off in 2015 where she served as President and Country Manager in Mexico until March 2023. Ms Vázquez was chairwoman of the Board of the Mexico operation and brought a strong focus on governance and compliance upholding the highest ethical standards, amidst achanging regulatory environment for chemical businesses and labour laws.

She is an active member of the Risk & Audit Committee and chairs the Sustainability Committee at Bocar Group. She also serves in the Vigilance Committee of the American Society of Mexico. Ms Vázquez was a board member of the ICC International Chamber of Commerce, ANIQ and DuPont-Duwest. She is a strong people leader with a track record of developing talent, motivating teams, and driving engagement and will bring the experience and technical knowledge to add value to the Board, particularly an orientation to best practices and governance. Ms Vázquez holds a degree in Public Accounting from Tec de Monterrey (ITESM), a diploma in Finance from ITAM, as well as a Board Member Diploma from IPADE.

During the Board meeting held on 28 February 2024, Fresnillo plc Chairman Alejandro Baillères said of Ms Vázquez appointment: "I am very pleased that Rosa has agreed to join our Board, subject to her election at the Company's forthcoming annual general meeting. Rosa Vázquez brings a wealth of expertise in Environmental, Social, and Governance (ESG) matters, which will greatly contribute to Fresnillo's strategic direction."

Mr Alejandro Baillères also said of Ms Ramírez appointment: "I am delighted that Luz Adriana has agreed to join the Board. Her experience across finance, leadership, and strategic collaboration, makes her an exceptional candidate for the Non-Executive Director position at Fresnillo. I also look forward to welcoming her to the Board following the 2024 AGM".

The Company also announces that Dame Judith Macgregor will be appointed as the Senior Independent Director from the date of the AGM, replacing Charlie Jacobs in that role. She joined the Board as a non-executive Director in 2017.

The Board, at its meeting held on 28 February 2024, has also approved a recommendation from the Nominations Committee that Ms Georgina Kessel and Ms Guadalupe de la Vega be appointed as members of the Nominations Committee in place of Ms Bárbara Garza Lagüera and Mr Charles Jacobs, to be effective from the AGM:

Considering the foregoing, the new compositions of all the relevant committees will be as follows:

Fresnillo plc Chairman Alejandro Baillères said: "I would like to take this opportunity to express gratitude to Bárbara and Charlie for their dedicated service on the Nominations Committee. Their commitment has played an instrumental role in the committee's progress."

The Company confirms that there is no other information regarding Ms Ramírez or Ms Vázquez that is required to be disclosed under paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.

The information contained within this announcement is deemed by Fresnillo plc to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person making the notification is Gustavo Alarcon General Counsel and Compliance Officer, Fresnillo plc. The time of the notification is 12:30 pm UK time.

For further information, please visit our website www.fresnilloplc.com or contact:

ABOUT FRESNILLO PLC

Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega (including Las Casas Rosario & Cluster Cebollitas), Herradura, Soledad-Dipolos¹, Noche Buena and San Julián (Veins and Disseminated Ore Body), three development projects - the Pyrites Plant at Fresnillo, the ptimization of the beneficiation plant also at Fresnillo, and Juanicipio, and four advanced exploration projects - Orisyvo, Rodeo, Guanajuato and Pilarica, as well as a number of other long term exploration prospects.

Fresnillo plc has mining concessions and exploration projects in Mexico, Peru and Chile.

Fresnillo plc has a strong and long tradition of exploring, mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for silver.

Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company and Mexico's largest gold producer.

¹ Operations at Soledad-Dipolos are currently suspended.

FORWARD-LOOKING STATEMENTS

Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.

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