Appian to appoint Ignacio Bustamante as Head of Base Metals

LONDON,May 30,2023 -- Highlights

Appointment of Ignacio Bustamante,currently CEO of Hochschild Mining PLC,strengthens operational leadership on portfolio company level

Ignacio Bustamante will join on 28 August 2023 and lead base metals globally,heading Appian's operations in this strategically important area

Brings significant experience and understanding from leading London-listed mining company and deep relationships in Latin America and other key jurisdictions

Demonstrates Appian's ability to attract industry-leading talent to support growth

Appian Capital Advisory LLP ("Appian" or the "Company"),the investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies,today announces the appointment of Ignacio Bustamante as Head of Base Metals,based in London. Upon stepping down as Hochschild Mining CEO,Bustamante will commence his role with Appian on 28 August 2023.

Ignacio will be a key member of the Company's leadership team with responsibility for Appian's base metals portfolio globally. In particular,he will oversee Appian's operations and growth strategy across all base metals,with responsibility for acquisitions,development and operations. Base metals and decarbonization commodities,including zinc,copper and nickel,remain a core focus for Appian,and Ignacio will play a central part in strengthening the Company's position in this area. His appointment also demonstrates Appian's ability to attract industry-leading talent to further support the Company's technical arbitrage capabilities.

Ignacio is a senior mining executive and currently CEO of Hochschild Mining PLC,a leading London-listed silver and gold mining business operating in the Americas. A Peruvian national,he has significant experience managing operations in Latin America,with particularly strong leadership expertise and an extensive knowledge of financial and operational management.

He joined Hochschild in 1992 and,prior to his appointment as CEO in April 2010,served as COO and General Manager of its Peruvian operations. Between 1998 and 2003 he was CFO and Board member of Cementos Pacasmayo,an affiliate of Hochschild. Between 2003 and 2007 he worked for Zemex Corporation,a subsidiary of Cementos Pacasmayo,based in Atlanta,Georgia,serving first as CFO and Vice President of Business Development and then President.

Ignacio is a Board member of Aclara Resources,Scotiabank Peru,Profuturo AFP,Colegio Roosevelt,and Chairman of the Silver Institute. He holds a BSc in Business and a BSc in Accounting from Universidad del Pacifico in Peru and an MBA from Stanford University.

Michael W. Scherb,Founder and CEO of Appian,commented:"Ignacio is a fantastic addition to the Appian team and will play a key role in developing our base metals business. His significant management and operational expertise will be invaluable as we embark upon our next phase of growth,while his deep experience and relationships in Latin America will support our expansion in the region.

As one of the most experienced and respected mining executives globally,Ignacio's appointment also reflects the strength of Appian's business and its ability to attract market-leading talent. Base metals remain a core focus for Appian and we are incredibly well placed to benefit from the energy transition and drive robust investor returns."

Guillermo Kaelin,Managing Partner of Appian,commented:"Having known and worked with Ignacio for over 15 years,he will be a significant addition to the business,bringing a wealth of experience from one of the world's leading mining companies. Base metals remain strategically important for Appian,and Ignacio's vision and expertise will play a central role in advancing this important part of our portfolio."

Ignacio Bustamante said: "Appian is the leading private capital provider in the mining sector and it is a really exciting time to join the business. Base metals remain in high-demand,and Appian's unique strategy and value-add capital provide a compelling blueprint to unlock value and support demand for these critical commodities."

About Appian Capital Advisory LLP

Appian Capital Advisory LLP is the investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies.

Appian is a leading investment advisor in the metals and mining industry,with global experience across South America,North America,Australia and Africa and a successful track record of supporting companies to achieve their development targets,with a global operating portfolio overseeing 6,300 employees.

Appian has a global team of 65 experienced professionals with presences in London,New York,Toronto,Vancouver,Lima,Belo Horizonte,Montreal,Dubai and Perth.

For more information please visit www.appiancapitaladvisory.com,or find us on LinkedIn,Instagram or Twitter.