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These provisions are based on current information and legal advice and may be adjusted from time to time according to developments.
−Removed: Our subsidiary Cordoba is currently involved in two legal proceedings.
−Removed: The first is a criminal lawsuit filed by Cordoba in late 2018 and in January 2019 with the Colombian prosecutors against nine members of former Colombian management alleging breach of fiduciary obligations, abuse of trust, theft and fraud.
+Added: Our subsidiary Cordoba was the parent of two subsidiaries that are currently involved in two legal proceedings.
+Added: The first is a criminal lawsuit filed by Cordoba’s subsidiary Minerales Cordoba S.A.S ("Minerales") in late 2018 and in January 2019 with the Colombian prosecutors against certain former legal representatives and management members of Minerales and Exploradora Cordoba S.A.S.
+Added: ("Exploradora") alleging breach of director’s fiduciary duties, abuse of trust, theft and fraud.
This proceeding is ongoing.
−Removed: In the second proceeding, Cordoba (along with the National Mining Agency, Ministry of Mines and Energy, the local environmental authority, the Municipality of Puerto Libertador and the State of Cordoba) were served with a class action claim by the Alacrán Community.
−Removed: This class action seeks (i) an injunction against Cordoba´s operations in the Alacrán area and (ii) an injunction against the prior declaration by the authorities that the Alacrán Community´s mining activities were illegal.
−Removed: The claim was initially filed with the Administrative Court of Medellín, which remanded the case to the Administrative Court of Montería, which contested it and submitted the case to the Council of State.
−Removed: The Council of State determined the Administrative Court of Montería as the competent tribunal, where the process is currently being conducted.
−Removed: The Administrative Court of Montería admitted the commencement of the class action on September 2021.
−Removed: The decision was challenged by Cordoba and other defendants and confirmed by the Court.
−Removed: Cordoba timely filed its (i) response to the lawsuit and statement of defense;
−Removed: and (ii) opposition to the injunction requested by plaintiffs.
+Added: In the second proceeding, Cordoba’s subsidiaries Minerales and Cobre Minerals S.A.S (along with the National Mining Agency, Ministry of Mines and Energy, the local environmental authority, the Municipality of Puerto Libertador and the State of Cordoba) were served with a class action claim by the Alacrán Community.
+Added: Minerales timely filed:
+Added: (i) a response to the lawsuit and statement of defense;
+Added: and (ii) an opposition to the injunction requested by plaintiffs.
The Court now should:
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and (ii) schedule date and time for the initial hearing.
−Removed: While the court matters proceed, Cordoba will incur additional costs that will negatively impact its financial position.
−Removed: As well, the litigation process is uncertain and it is possible that the second proceeding is resolved against Cordoba, which could have a material adverse effect on its business, results of operations, financial condition and prospects.
+Added: As a result of Cordoba’s sale of Cordoba Minerales S.A.S and Exploradora Cordoba S.A.S, effective March 5, 2026, we no longer have any interest in the Cordoba entities involved in the legal proceedings or any involvement in the legal proceedings.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.