2015 Targets

Hudbay’s corporate objectives are defined around a framework of:

• Operational Excellence, which includes environment, health and safety performance and stakeholder relationships
• Financial Excellence, which includes access to capital
• Growth, which includes renewing our project pipeline
• Leadership, which includes employee communications and engagement

We have set key CSR targets and objectives to support key areas of our corporate objectives as described below:

Operational Excellence/Leadership Targets

Health and Safety

We are striving for zero injuries through continuously reducing our rate and severity of injuries. Our key targets toward this goal are to achieve performance in 2015 to:

• Improve on our three-year average lost time injury frequency of 0.20
• Improve on our three-year average lost time severity of 6.5
• Improve on our three-year total recordable injury frequency average of 3.6
• Implement a company definition and investigation standard for severe and high-potential safety and environmental incidents

Community

• Develop a company-wide introduction to human rights training program
• Develop and implement a company-wide local employment and procurement standard

Environment

• Achieve a 1% greenhouse gas emissions reduction in Manitoba
• Achieve a 1% freshwater withdrawal reduction in Manitoba

Governance

• Develop a skills matrix identifying key skills areas that need to be represented in the Board of Directors membership
• Amend Hudbay’s governance guidelines to reflect the desire for increased board diversity
• Implement at least one additional module at each Business Unit as the second phase of our EHSC information system

Financial Excellence/Growth Targets

Economic

• Achieve commercial production from the Constancia mine
• Greater than 270% increase in copper production (contained metal in concentrate) over 2014
• Advance permitting and technical work at the Rosemont project